Bain Document Dump..Gawker

The Bain Files (Gawker)
gawker.com...

Gawker has obtained a large cache of confidential internal financial documents from more than 20 secretive hedge funds and other investment vehicles in which Mitt Romney has stashed his considerable wealth.

Searchable HERE ...though it is timing out a lot as folks are reviewing the complex docs


First revelation...An entity that Romney claimed was part of his Retirement package in 1999, wasn't even created until 2002.

Romney has long claimed, despite evidence to the contrary, that he retired from Bain Capital in 1999. The Bain documents we obtained indicate that his involvement with the company extended years past that date.

Romney owns a stake in Sankaty Credit Opportunities L.P., a Delaware-based partnership. According to its financial statements, it had $201 million in assets in 2009 and a $52 million gain on the year—that's after a stunning $91 million loss in 2008. But what's interesting about Sankaty Credit Opportunities is that, according to his 2012 financial disclosure, Romney's interest in the entity was part of his retirement package: It was made "pursuant to an agreement with Bain Capital regarding Mr. Romney's retirement" in 1999. But according to its audited financial statement, Sankaty Credit Opportunities didn't exist yet when Romney retired: "Sankaty Credit Opportunities, L.P., is a Delaware limited partnership which commenced operations on August 12, 2002." In other words, Romney's 1999 retirement agreement included an investment in an entity created in 2002—in fact, was created in the heat of his first gubernatorial campaign in Massachusetts.

gawker.com...

More revelations certain to come as this story is still breaking and the docs are being reviewed...

Any tax attorneys or financial folks want to take a look and translate some of this web??

reply to post by Indigo5


And here...

Even more drastic, Sankaty Credit Opportunities IV—of which Romney owns more than $1 million in his IRA and which earned him between $50,000 and $100,000 in 2011, and which is likewise described as an investment made pursuant to his retirement package—wasn't even created until July 2008. That's nine years after his retirement from Bain and five months after he withdrew from the 2008 GOP primary.

gawker.com...

Seeing that these entitities are largely "black holes" and we are discovering that they were ?given? to Romney long after he retired...where is this money originating? How did he end up owning them if they didn't exist when he retired?

Left or right..."Black" funding to the tune of Millions of a political candidate? Money that he has obviously "obfuscated" at the least. Can he please clear this up for us?

A little light please...

It was only a matter of time for something like this to leak.

Romney is hiding something in his tax returns...and it seems like he is hiding even more in his retirement package.

It will be interesting to see how much damage this does and how much additional pressure is put on Romney to release his taxes.

Originally posted by OutKast Searcher
It was only a matter of time for something like this to leak.

Romney is hiding something in his tax returns...and it seems like he is hiding even more in his retirement package.

It will be interesting to see how much damage this does and how much additional pressure is put on Romney to release his taxes.

Obama is hiding something in is Collage records and transcripts. It would be interesting to see how a lower class person got into these prestige collages after saying in his own words how his" last two years of high school were a bluer" from doing drugs all day long.

I guess Romneys taxes are more important. O you Romney.... I know your hidding something..he must be one of those "rich" people like obama is..

This is better than a release of his tax returns, as it hints at the things he's been hiding in his refusal to release his returns. This has explosive potential. If it is found that information in his documents conflict with his required financial disclosure, that's a huge deal. It is a felony to falsify those disclosures and it could also lead to a federal tax evasion investigation.

It will be very telling to see how the Romney campaign responds to this doc dump. Let's if they all the sudden change their mind on release of his returns.

400 pages of material is not a lot to go through. If bad stuff is in there, you'll see headlines before the convention...right when many people are starting to pay attention. Even the Tea Party folks resent rich people gaming the system for personal gain.

Originally posted by camaro68ss

Obama is hiding something in is Collage records and transcripts. It would be interesting to see how a lower class person got into these prestige collages after saying in his own words how his" last two years of high school were a bluer" from doing drugs all day long.

Well..I imagine one of the factors that got him into "college" was the ability to spell the word?

Sorry...couldn't resist.

Done with the attempted derailment yet?

The Bain Files: Inside Mitt Romney’s Tax-Dodging Cayman Schemes

Started to go over the more egregious facets of these files, but it's almost too overwhelming for a single post. Everyone should look this page over at least, it's an eye opener for sure.

This is almost certainly why Willard won't release taxes from prior to 2010 - evidence of massive tax-dodging schemes, evidence he voted in states he wasn't a resident of, evidence he ran for an office in a state he wasn't a resident of, etc., but especially evidence his public persona and statements don't jibe with his SEC and tax filings.

Please, how about you post information not from a Left leaning web site. Theres nothing daming here.

Distraction after distraction - seems I know more about Romney now than our current POTUS.

That being said these types of posts show you how desperate times are getting for the Dems.

Keep hammering because the more you do the more we learn how little we know about Obamas School records - wealth - and exactly who he really is besides someone who sees nothing exceptional in America.

Funny to see all the nonsense unfolding while the economy - jobs - housing - energy - and our allies are all being ignored for the sake of somebody keeping a job he never was ready for to begin with.

reply to post by Indigo5

First revelation...An entity that Romney claimed was part of his Retirement package in 1999, wasn't even created until 2002.

I thought by now everyone knew that romney retired "retroactively" from Bane in 1999 in 2002.

At least I think that is what he said one time.

Of course, he may have said something else since then.

Boy this is getting old

But Fortune senior editor Dan Primack says Gawker’s huge dump is much ado about nothing.

However, before another word on the subject is said, it should be noted that neither the folks at POLITICO nor the folks at Gawker (nor this author) fully understand everything in these documents.

“These documents — not all of which are new — will require a great deal of vetting,” writes POLTICO’s Dylan Byers, eagerly adding that early “signs indicate that there are some new, and potentially controversial, details.”

“The documents are exceedingly complicated. We don’t pretend to be qualified to decode them in full, which is why we are posting them here for readers to help evaluate — please leave your thoughts in the discussion below,” Gawker’s John Cook writes.

Ouch. He goes on to critique and/or correct each of Gawker’s possible “finds” including:

Bain’s Cayman Islands accounts: “the reality is that most private equity firms form Cayman-domiciled funds to accommodate investors based outside of the United States (particularly when those funds also are making some non-U.S. investments).”
The fact that Romney’s retirement package involves companies created after he left Bain in 1999: “[H]is retirement package provided Romney with ownership positions in Bain funds raised for 10 years after he left the firm (plus the ability to co-invest his own money). This isn’t breaking news (mentioned here, for example).”
On the “mystery” surrounding Romney’s holdings: “There actually is plenty of data on Romney’s Bain-related holdings. For example, Bain’s own website lists most of its active private equity portfolio companies. Then there are third-party databases operated by such organizations as Dow Jones, Thomson Reuters and CapitalIQ — each one of which includes searchable lists of past Bain Capital deals (often with detailed financial information).”

“I totally understand why a stack of papers marked ‘confidential’ seems exciting, particularly for those without a deep understanding of private equity. And I‘m not taking any position on if Romney did or didn’t duck taxes at some point, either related or unrelated to Bain holdings. All I’m saying is that Gawker has posted tons of smoke without any fire,” Primach adds.

www.theblaze.com...

Gawker's worthless 'Bain files'
finance.fortune.cnn.com...

gawker is not a left wing site..

Theblaze however is a right wing site..

"Gawker's worthless 'Bain files' "

Actually came from a blog..

Amazing, if this had been documents on Obama this thread would be 20 pages long already. Had this thread been on RP, same.. This i put forward as yet more proof of hypocrisy alive and well in the land of truth and "denying ignorance"

To those people who actually support Romney, how can you overlook these glaring inconsistencies? Anyone with limited financial knowledge can see that this particular income was not on the up and up, which is why he lied about it, not to mention that it is obvious he is hiding something. Why would anyone want a dishonest person who lies, cheats, steals, etc. to be president of any country they lived in? This is the problem with the majority of politicians in general.

They are supposed to be leaders yet they are more corrupt than your average "regular" person. Politics should never have gotten to the point of being a "business." Politicians should have many sanctions on what they can and cannot do, and should be watched like a hawk. But they are the ones who make the laws, therefore they can get away with it.

If a relatively small village of people had to elect a leader, they are going to choose correctly because they have lived with the person, and know much about him. As a nation we go to elect a president who has made a career out of presenting his best fact only to the world, while subsequently hiding the bad things that would be even more pertinent for the people to know to make an informed decision.

Originally posted by Resurected
gawker is not a left wing site..

Theblaze however is a right wing site..

"Gawker's worthless 'Bain files' "

Actually came from a blog..

Gawker isn't a left wing site? Have you ever been there? They are proud of being very slanted to the left. It's openly talked about. By the writers, the posters, everyone.

This was already knocked down handily on CNN. It means nothing, it's a bunch of BS to get Gawker page views. The squirrel avatar posted the link.

Let's get something straight with the Gossip site Gawker

Note all of he evil talk of suspicious Cayman island banking accounts mentioned in this thread... Then read this

Apparently, nobody thought to tell the boys on the Romney beat that Gawker Media is part of a shell company incorporated in the Cayman Islands. Gawker’s money lives in the same neighborhood as Romney’s money. Call it bipartisanship.

As John Cassidy relates in The New Yorker, Gawker’s finances are “organized like an international money-laundering operation.” For example:

Much of its international revenues are directed through Hungary, where [bossman Nick] Denton’s mother hails from, and where some of the firm’s techies are located. But that is only part of it. Recently, [Felix] Salmon reports, the various Gawker operations—Gawker Media LLC, Gawker Entertainment LLC, Gawker Technology LLC, Gawker Sales LLC—have been restructured to bring them under control of a shell company based in the Cayman Islands, Gawker Media Group Inc.

Yes, Gawker is guilty of the same sins that they are applying to Romney. (without evidence to support anything illegal once again)

In my mind, hypocrisy is a lesser sin than stupidity, and it is sort of stupid to write up a breathless account about Romney’s doing the precise same thing your company does. Incidentally, there is nothing in the Gawker report or the accompanying documents suggesting that Romney or Bain did anything improper. And neither did Gawker, for that matter: U.S. tax practices create very powerful incentives to pursue avoidance strategies. Gawker’s owners apparently know that, even if its writers lack the guts or the intellectual capability to acknowledge as much.

We eagerly await the next Gawker editorial on the need for corporate-tax reform.

www.nationalreview.com...

www.newyorker.com...

reply to post by jibeho


So Gawker is running for president? Fail attempt at distraction there..

reply to post by Domo1


The front page of Gawker pretty tame compared to an MSM like say Fox News.. So if Gawker is a liberal site then i guess we can admit that Fox news nothing but biased propaganda? Actually the front page of Gawker more tame then any right wing site i can think of.

I guess Obama can sleep easy knowing they won't be leaking any documents on him. Can't leak documents that don't exist. Perhaps some college transcripts but I personally think all physical records of Obama have been confiscated and destroyed long ago.

I don't care about Romney's past with Bain Capital. This is a free country and capitalism is what we're about. To demonize that only shows how anti-capitalist his opposition is. It's another distraction because Obama can't run on his record; if's dismal. He makes Carter look like a wild success.

Originally posted by Resurected
reply to post by jibeho

 

So Gawker is running for president? Fail attempt at distraction there..

Silly rabbit. You missed the point. Gawker is pointing the finger at Bains Cayman Island accounts. Those on ATS automatically associate Cayman accounts with illegal activity and Gawker turns out to be a shell company rooted in the Cayman Islands. Did you miss that part of the story??

I posted earlier that all claims in the OP are unfounded and that these documents are actuallly WORTHLESS! But,, tuck them under your pillow at night if that makes you feel better.

NO distraction just the facts. Deny Ignorance!! That's what makes ATS so great!!!!! Now how about a document dump of State Senator Obama's records. Oops! those documents were lost or accidentally destroyed when they were cleaning the file room...