Bain Mysteries

[Teatownclown]

http://www.alternet.org/newsandviews/article/1031320/$100_million_in_romney's_ira_and_other_bain_mysteries:_where's_the_media_swarm/

$100 Million in Romney's IRA and Other Bain Mysteries: Where's the Media Swarm?
Back when Bill Clinton was President there was a huge media-swarm controversy because a decade before her husband was elected Hillary Clinton had made $100,000 over ten months by investing in cattle futures. Now, skip forward to 2012. Report after report circulates about a candidate for President who owns a secret company in Bermuda, Swiss and Cayman Islands bank accounts and an IRA containing as much as $100 million -- and who may have filed SEC documents containing false information (a felony). Huge media swarm this time? Not so much.

Cattle Futures?

In the 1970s Hillary Clinton made some speculative investments. Over a period of 10 months she made investments in cattle futures that did well, earning $100,000. Later when her husband was President, the media wanted to find out how she was able to make such a large, huge, gi-normous sum from speculative investments.

Take a look at the 350,000-or-so web references to cattle futures trades made by Hillary Clinton way back in the 1970s. This might give you an idea of how big a deal it was back in the mid-90's that Hillary Clinton had made $100,000 (!!!) on speculative investments back in the 1970s. (The number of stories located online is possibly reduced by the fact that the media swarm happened in the mid-1990s --largely before the Internet.)

Look at the outlets that assigned teams of reporters to investigate: All the TV networks, the Washington Post, New York Times, Newsweek, and all of the rest of the journamalism crowd were all over what was considered to be a major story.

This story was investigated, written about, investigated, written about, and investigated. No evidence of any wrongdoing was ever found -- which many in the media took as clear proof that there had been a massive cover-up.

Today - Not So Much

Today things are different. Compare the magnitude of Hillary's $100,000 profit to the recent disclosure of as much as $100,000,000 -- one hundred million dollars -- turning up in Mitt Romney's IRA which is a personal retirement investment vehicle that is limited to a few thousand in contributions each year. (Remember, the gains made in an IRA is not taxed.) Romney is already retired, and the one completed tax return he has disclosed shows that he currently has an income of approximately $450,000 per week.

So how did $100 million end up an an IRA that is limited to deposits of a maximum $6,000 a year (after you reach a certain age)? How many reporters has each major news organization assigned to find out why he has up to $100 million in an IRA?

Compare Hillary's $100,000 profit to the disclosure that Mitt Romney has a Swiss bank account. A candidate for President of the United States has a Swiss bank account? (And a Caymans bank account? And others?) Why? What is the explanation? How many reporters has each major news organization assigned to find out?

Compare it to the disclosure that Mitt Romney owns a secret company in Bermuda, which was transferred to his wife the day before he had to disclose it, or what it is or does. How many reporters has each major news organization assigned to find out why he has a secret company in Bermuda, and what that company does, how much it pays in taxes and how much money it holds, and why it was transferred to his wife the day before he took office as Governor?

Compare it to the more recent disclosure that after 1999 Romney's company Bain Capital was telling the government and other parties that Romney owned all the shares, was President and CEO and managing the place, but now says that was all a scam and he wasn't really! (That's illegal -- a felony -- by the way.) How many reporters has each major news organization assigned to find out if he lied on his SEC forms? ONE news organization did report this story -- well, actually they reported information originally uncovered by a progressive website and a progressive magazine.

Where Is Our Media?

News media. Information. Informed decision-making in a democracy. Investigative reporting. The public's need to know. What has happened to these concepts? They seem alien in today's media environment.

Our news media's purpose is supposed to be to provide the public with the information that is needed to make informed decision. It is supposed to be investigating our leaders to find out if they are really acting in our interest. Why are they not doing this at this crucial time?
By Dave Johnson | Sourced from Campaign For America's Future
Posted at July 13, 2012, 5:43 am

The media has become a joke of it's old purpose. They are now owned by all those campaign dollars SCOTUS enabled them to get from the "opposition"....a bunch of elitist corporatists turning this country into a Plutocracy run by oligarchs while the powerful make people fear minor forms of socialism.

Hopefully, there will be more truth telling after labor day and these mysteries unravel.

[Gaspar]

The media has become a joke of it's old purpose. They are now owned by all those campaign dollars SCOTUS enabled them to get from the "opposition"....a bunch of elitist corporatists turning this country into a Plutocracy run by oligarchs while the powerful make people fear minor forms of socialism.

Hopefully, there will be more truth telling after labor day and these mysteries unravel.

This looks like a job for:

[nathanm]

I had forgotten that the media and the Republicans described Whitewater as a "failed land deal" Clinton happened to make money on. Funny how things are different when the shoe is on the other foot.

[Conan71]

I had forgotten that the media and the Republicans described Whitewater as a "failed land deal" Clinton happened to make money on. Funny how things are different when the shoe is on the other foot.

Whitewater Development Corp or whatever it was called did fail and the Clintons made money on it.

What's different?  Isn't that what you guys are all criticizing Romney for with his venture capital business, or am I missing something?

[Hoss]

Whitewater Development Corp or whatever it was called did fail and the Clintons made money on it.

What's different?  Isn't that what you guys are all criticizing Romney for with his venture capital business, or am I missing something?

Let's not forget his primary opponents criticized him too....

[Conan71]

Let's not forget his primary opponents criticized him too....

Yeah, it's what they do. It's called campaigning and regardless of what short-memoried pundits claim, this was no different than any other presidential election year.  Remember how "voodoo economics" was the defining shot of Bush I against St. Ronald in the 1980 primaries?  Remember how that worked out?  Bush I had a 12 year gig in the executive branch after that and ostensibly Reagan and Bush got along quite well.  That's why I have to laugh every time you say "Etch-A-Sketch" candidate.  It's catchy but could describe Obama just as easily. 

Interestingly, none of Hillarity's former supporters seem to remember all the skeletons in Obama's closet now.  Remember what a scary and mysterious character she painted him to be?  He still is but since there's no opposition in his own party, it's "carry on" time.  Partisan politics at it's best!

[nathanm]

Yeah, we were talking about Romney. I was comparing it to a similar business deal that the Republicans did seem to take issue with.

[Conan71]

Yeah, we were talking about Romney. I was comparing it to a similar business deal that the Republicans did seem to take issue with.

The reasons Republicans took issue with White Water was because of the Clinton's partner's proclivity for outright bank fraud.  Some of the details had escaped me but when I started reading up on it after your post- holy crap!  Jim McDougal made Tom Kivisto, Kenny Lay, and Aubrey McClendon look like a bunch of alter boys.

That was not much different than many other S & L scams, people buying S&L's and loaning themselves money on oil wells, over-inflated real estate projects (even the Inhofe brothers) in the 80's & 90's.  The Clintons came out clean in the end but Jim & Susan McDougal both did time as I recall.  I even think Jim died in prison of cancer or was released to die at home. The Clintons were acquitted and I'm fine with the findings of special prosecutors, grand juries, etc who investigated it.  They may have been dirty as hell but all legal processes we have acquitted them.

Again, there's nothing I've read so far which indicates Romney was engaged in any activity which might have led to a loss to the FDIC or an outright bank fraud.  Nor have I read solid allegations of that sort against his partners.  

[Gaspar]

The reasons Republicans took issue with White Water was because of the Clinton's partner's proclivity for outright bank fraud.  Some of the details had escaped me but when I started reading up on it after your post- holy crap!  Jim McDougal made Tom Kivisto, Kenny Lay, and Aubrey McClendon look like a bunch of alter boys.

That was not much different than many other S & L scams, people buying S&L's and loaning themselves money on oil wells, over-inflated real estate projects (even the Inhofe brothers) in the 80's & 90's.  The Clintons came out clean in the end but Jim & Susan McDougal both did time as I recall.  I even think Jim died in prison of cancer or was released to die at home. The Clintons were acquitted and I'm fine with the findings of special prosecutors, grand juries, etc who investigated it.  They may have been dirty as hell but all legal processes we have acquitted them.

Again, there's nothing I've read so far which indicates Romney was engaged in any activity which might have led to a loss to the FDIC or an outright bank fraud.  Nor have I read solid allegations of that sort against his partners.  

Learn the rules Conan.

1. You can only be successful by defrauding others, therefore, wealth is evidence of a crime.
2. If you are a Democrat, you are always the victim, even if it is you who commits the fraud.
3. If you are not a Democrat, accusation, subpoena, or implication is equal to a conviction.
4. If you are a Democrat, accusation, subpoena, or implication is a vicious attack.

Romney is an evil man for several reasons. He is wealthy, forces his wife to stay home and take care of the children, goes to church, and is a gifted businessman.  Any of these traits by themselves makes him nauseating to Democrats, but all of them together make him a monster.

[RecycleMichael]

You certainly are the as# in gaspar.

[Conan71]

You certainly are the as# in gaspar.

And when you expose their MO, there's no logic, just personal attacks.

Come on RM, you can do better than that.

[RecycleMichael]

For gaspar to lump all democrats into his little categories is offensive to me. For you to defend such behavior stains you as well.

There are rational, well behaved democrats and republicans in this world. TeaTownClown and gaspar are not among them and you seem to be slipping away as well.

Bicycling was a contributor to Paul Tay and Biker Fox turning weird. If this happens to you as well, I won't let my kids ride another bike.

[RecycleMichael]

...just personal attacks.

Is that personal enough?

[Conan71]

For gaspar to lump all democrats into his little categories is offensive to me. For you to defend such behavior stains you as well.

There are rational, well behaved democrats and republicans in this world. TeaTownClown and gaspar are not among them and you seem to be slipping away as well.

Bicycling was a contributor to Paul Tay and Biker Fox turning weird. If this happens to you as well, I won't let my kids ride another bike.

Recycling must make someone lose their sense of humor.  Therefore, I'll simply resort to throwing all my goods in the trash bin, I'd hate for it to cost me my sense of humor.

You big dope. 

[Teatownclown]

Recycling must make someone lose their sense of humor.  Therefore, I'll simply resort to throwing all my goods in the trash bin, I'd hate for it to cost me my sense of humor.

You big dope. 

TNF's bloviator .... Mista America! LOL!