Romney Apparently Lied On Federal Financial Disclosure Documents According To Previous Sworn Testimony

With Presidential candidate Mitt Romney running about even with President Obama in the polls, a new controversy developed today involving the Bain Capital company that Romney was once a board member of. In June 2002, Mitt Romney swore under oath that he was on the active board of Bain Capital, doing management work for LifeLike Co., Staples and Marriott International in a hearing to establish that Romney was legally qualified to run for governor of Massachusetts due to residency requirements. But, then on the campaign, Romney has consistently denied that he had any business management work for Bain Capital after 1999.

While Romney’s work at Bain Capital could have been a major asset while running for office, this contradiction of sworn testimony now becomes a big problem for the candidate. Bain Capital was able to take the one store Staples company and make the company into a nationwide success story by creating a successful chain of stores adding many jobs, and indeed Bain Capital often created far more jobs than they lost when they were forced to close a few steel businesses for example.

The new problem is that Romney apparently lied on the Federal Financial Disclosure form that he filed on August 12, 2011 when he claimed that he had no more business management dealings with Bain after February of 1999. This now creates the problem of whether the candidates falsehoods could now result either in fines or in criminal charges.

Romney has not yet been nominated as the Republican Party presidential candidate. however if that party would run a candidate under federal indictment, it would present a huge electability issue for the candidate.

Romney has recently done very with the business community in raising campaign funds. Last month his campaign took in $107 million dollars, or more than $30 million more than the Obama Campaign, largely because of business and corporate donors who wanted a change in Washington and a president they they feel is more responsive to their business needs. While that business experience by Romney was an asset up until now, his contradictory federal campaign filing and his sworn testimony now become a major problem for the candidate that could easily derail his chances of winning the White House.

The Romney campaign has gone into damage control mode today, trying to argue that Romney wasn’t involved in the “day to day” management of companies like LifeLike, however doesn’t clear up some serious differences between the 2011 Federal Disclosure statement and the 2002 sworn testimony in Massachusetts. The Romney Campaign tried to blame a “desperate” Obama Campaign for the story, but the Obama Campaign had nothing to do with the story that has leaked through the Huffington Post and then became breaking news for other news agencies.

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  • cirby

    He was on a leave of absence for those three years, running the bid for the 2002 Winter Olympics. He had no day-to-day control at his job, and this whole thing is just more BS from the Obama administration.

    I’m also sort of curious – Wizbang Pop was supposed to be an entertainment blog, right? Why are you dropping in a discredited Democrat political talking point? Trying to get plenty of coverage before the story completely blows up in the Dems’ faces?

    • Paul Hooson

      Hello Cirby, this story is noteworthy because it’s actually a major business story. A top businessman runs for president against an incumbent president who has very weak economic performance, leaving many American’s wanting more and hopeful that a successful businessman can turn around the economy. But, then he flies contradictory statements, one a sworn oath, and the other, a federal campaign financing document, and only greatly complicates things for himself.
      And this seems to be a huge problem for Romney, because he managed to have a terrible week. First, he makes an ill-advised appearance before the NAACP, then he himself, with no else to blame, walks into this new mess of his own making, partly because he tries so hard to be on every side of every issue. For everything that he’s for, he’s also against. Mitt Romney should debate himself in November. That would be interesting..
      By his own hand, Romney manages to make himself the “Joe Isuzu” of American politics, a nervous liar who hardly looks comfortable onstage, who is for and against everything, all at the same time. Compare that against the calm smoothness of Obama, even if things aren’t good at all.
      With so much dissatisfaction in the Obama presidency, and many voters willing to look with hope to someone else, Mitt Romney has a golden opportunity to possibly win by running a calm and even-nerved campaign. Yet, that’s not what I see here. I just see more of this nervous liar stuff which means that Romney is a candidate far more likely to self-destruct than not.
      As poor and disappointing as the Obama presidency has been, many Americans might well begin to see Romney as unpresidential, and someone too erratic to be in charge.
      Romney’s success with Bain Capital should have been an asset in this campaign. He took the one store Staples, and helped to make this into a major U.S. office supply chain. That’s a success story with many jobs added. But, then Romney by his own hand offered up his own 2002 contradictory testimony and his 2011 federal disclosure filing. that has only taken this Bain issue from an asset to a deep liability. Why? Why in heck do this? Likely this story will be around for days now, if not all the way through the entire campaign.
      It’s issues like this that could take President Obama from being a failed Jimmy Carter type of president(someone with good intentions, for whom things just didn’t quite work out) to being like a George W. Bush, who largely bumbled his way back into a second term , mostly because his challenger looked so weak to many voters.
      Wizbang Pop certainly remains an entertainment and business news source. However a few important news stories like this, that have the potential to be a turning point in the 2012 election deserve a story, analysis and discussion.

      • cirby

        Again: Wizbang POP.

        There’s nothing in the headings above that mention “Business.” Have you ever covered a pure “business” story before? Why haven’t you covered the “business” stories like Solyndra? Or the media stories like the death threats against Brad Pitt’s mother? Seems like that last one is pure Pop.

        Political stories are for the regular Wizbang site. This sort of political story is better off at Huff Po or Kos.

        Popular culture, et cetera. Try to remember that next time.

        I know this is just another load of dross tossed out by the Obama camp in a vain attempt to smear Romney, but you know that’s it’s bunk.

        For example, the Boston Globe – one of the papers trying so hard to press this story – covered it in 2002, when they showed definitively that Romney was no longer in direct control at Bain. The Democrats can’t find anyone who can claim – first hand – that Romney had anything to do with operations at Bain from 1999-2002.

        The Dems are lying, and you know it. More to the point, you’re helping them lie.

  • ” the Obama Campaign had nothing to do with the story that has leaked through the Huffington Post”

    Did you actually write that with a straight face?