Did Mitt Romney lie about his tenure at Bain Capital?

The Boston Globe reports that Romney headed up the private equity firm until 2002 — three years longer than he's repeatedly claimed

Mitt Romney
(Image credit: AP Photo/Carlos Osorio)

Mitt Romney has long claimed that he left Bain Capital, the lucrative private equity firm he founded, in 1999 to run the Salt Lake City Winter Olympics. However, documents filed by Bain with the Securities and Exchange Commission show that he remained the company's "sole stockholder, chairman of the board, chief executive officer, and president" well after that date, say Callum Borchers and Christopher Rowland at The Boston Globe. Another disclosure form says Romney "owned 100 percent of Bain" as recently as 2002, and earned at least $100,000 from the company as an "executive" in 2001 and 2002. Mother Jones and Talking Points Memo also broke news on this front earlier this month, and together, the reports have potentially serious implications for the presumptive GOP nominee, who has consistently said he can't be held responsible for actions taken by Bain after 1999, including alleged instances of outsourcing and worker lay-offs. Team Romney says that the Globe report is "inaccurate," and that Romney had "no input on investments or management of companies" after 1999. However, the Obama campaign says the report means Romney either lied to the SEC — a federal offense — or to the American people. Has Romney been dishonest about his tenure at Bain?

Yes. He clearly ran the company after 1999: "The American public has every right to feel misled," says Henry Blodget at Business Insider. It's simply not possible that Mitt could be chairman, CEO, and president of Bain and simultaneously "disavow any responsibility for what the firm did." The Romney campaign is trying to walk a "very fine rhetorical line here," and it has "the potential to destroy Romney's credibility."

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