-By Warner Todd Huston
The Boston Globe wanted readers to think it had a scoop on its Bain Capitol story on July 12. But in the story claiming Romney is lying about leaving Bain in 1999, the Boston Globe not only used the work of other publications and did so without attribution (we call that plagiarism) but, on top of that, the sources used are simply wrong in the claim that Romney stayed at Bain three years after he said he left. It’s all around newspaper fail.
The Boston Globe was excited to push its story (subscription required), a tale of gotcha journalism where the GOP candidate was “proven” to have lied about saying he left Bain Capitol in 1999. The Globe claims they “found” evidence that he was actually there, actively managing the company until as late as 2002. If this were true, Romney wouldn’t just be a liar but he’d also be in trouble with the Securities and Exchange Commission (SEC).
Says the Boston Globe,
Mitt Romney has repeatedly sought to distance himself from some business dealings at Bain Capital by asserting that he left the firm in February 1999, but a review of public records shows that his authority lingered for three more years as Bain repeatedly listed him on government filings as the man in charge. Until 2002, when Romney and Bain Capital finalized a severance agreement, he remained the firm’s “sole stockholder, chairman of the board, chief executive officer and president,” according to SEC documents. The description was applied even to the creation of five new Bain partnerships a full three years after Romney has said he relinquished all control.
If this were all true, it would be a pretty bad thing for the candidate. Fortunately for Mitt and unfortunately for the screaming headline of the Boston Globe, it isn’t true. Mitt really did stop managing Bain Capitol in 1999 when he left the company to take over the struggling Winter Olympics.
Even FactCheck.org, no friend to Republicans, has debunked claims that Romney was actively controlling Bain after 1999. The Obama campaign has repeatedly claimed that Obama managed Bain after 1999, but FactCheck says Obama is all wet.
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Boston Globe Lifts Bad Info From Other Sources on Romney’s Bain Tenure”