Romney did not finalize a severance agreement with Bain until 2002, a 10-year deal with undisclosed terms that was retroactive to 1999. It expired in 2009.Either Romney left in 1999 or 2002, and while this may muddy the waters and help Democrats paint him as an outsourcer, the potentially bigger story is that he possibly wasn't honest. Coupled with the implied allegations of tax evasion via offshore accounts it isn't exactly good news for him.
Bain Capital and the campaign for the presumptive GOP nominee have suggested the SEC filings that show Romney as the man in charge during those additional three years have little meaning, and are the result of legal technicalities. The campaign declined to comment on the record. It pointed to a footnote in Romney’s most recent financial disclosure form, filed June 1 as a presidential candidate.
“Since February 11, 1999, Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way,’’ according to the footnote. Romney made the same assertion on a financial disclosure form in 2007, during his first run for president.
I tend to think Romney will open his books, and similarly explain the Bain departure confusion, a reasonable amount of time before the election. But I could be wrong, and Romney doesn't even need to. This is a referendum on
Since they can't debate Romney on the issues, they will attack his character. Or lie.
Update: Is this report nothing made to sound like something?
