Romney’s Bain Interest Revealed By Gawker
In a rather lengthy series of articles at Gawker, they published internal, never-before-seen or publicly reviewed documents from Bain Capital. Being detailed financial reports, these documents give a solid insight into Bain capital, both before and after Romney’s departure from the firm. It also reveals the potential source for the Bain Capital 2002 SEC reports which listed Mitt Romney as an executive and sole stockholder for one of their funds.
What Gawker uncovered is that Bain is not a company so much as a family of companies, all inter-related, inter-linked, held all across the world to create a gigantic web of corporations. According to Gawker, the total potential wealth being held by this web is around $66 billion, an incredible amount to consider. They also revealed some information which could explain the Bain documentation revealing Romney as an executive at the firm as late as 2002, and a primary shareholder in some ventures as late as 2008.
When Romney left the firm to run the Olympics, it seems he was issued not just a golden parachute, but a platinum. It now appears that he was given the right to enter into a specially designed funding group for up to 10 years after his exit from the firm. And checking on the documentation, we see him entering into such a deal as late as 2008, with Sankaty Credit Opportunities IV. He also holds a stake in each of the Sankaty Credit Opportunities LP funds, which were originally formed in 2002 as part of his retirement package just 6 weeks before he declared that he “wasn’t responsible” for what happened at Bain. The Sankaty documents even go so far as to list an “Investment Adviser” which, upon doing further reading, appears to be the “fixed income affiliate,” in other words it would seem to be Romney himself, or a surrogate for him. This adviser is the one to direct the funds.
While this does cast the earlier claims of Romney’s direct involvement at Bain in doubt, it does show an man and/or entity with an incredibly tangled web, who still, to this day, directly benefits from the actions of his earlier post. This means that even if he did not pull the trigger on the shutting down of companies, or in the purchase of bio-waste processing firms which profited from abortions, he still benefits a great deal financially from these decisions. Due to Bain’s web of companies in the US, the Caymans, in Luxembourg, in Switzerland, in Macau and Hong Kong, as well as elsewhere, Romney continues to reap the monetary rewards of the wealth he has sewn. Death squads or steel mills, if there is a buck to be made, Romney seems to be right there in the middle of it.