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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRomney: No, The Buck Did Not Stop With Me At Bain
Romney: No, The Buck Did Not Stop With Me At Bain
Mitt Romney again insisted to CBS Friday that he had no direct management of Bain Capital after February 1999. CBSs Jan Crawford asked him about SEC documents that show him as the CEO of the company after that time:
http://livewire.talkingpointsmemo.com/entries/romney-no-buck-did-not-stop-with-me
Mitt Romney again insisted to CBS Friday that he had no direct management of Bain Capital after February 1999. CBSs Jan Crawford asked him about SEC documents that show him as the CEO of the company after that time:
Crawford: You say its ridiculous. But why is this there there this discrepancy? You said you left bain in 1999 yet Bain is listing you as C.E.O. Until 2002. Why were you listed as C.E.O. Until 2002?
Romney: The documents show that theres a difference between ownership which is that I owned shares in Bain but did not manage Bain. I left as everyone knows to run the Olympics in February of 1999. I was full time running the Olympics. I had no role whatsoever in the management of Bain after I went to the Olympics and thats been demonstrated by people who work at Bain, by all of the documents but I still retained an ownership interest.
Crawford: Even if you werent making daily managerial decisions, though, doesnt the buck stop with you?
Romney: Actually, when you leave an enterprise and you have other people who are managing the enterprise, who take responsibility for the investment decisions, who decide whos going to get hired and fired, who decide compensation decisions, theyre the managers, theyre the people running the business.
Romney: The documents show that theres a difference between ownership which is that I owned shares in Bain but did not manage Bain. I left as everyone knows to run the Olympics in February of 1999. I was full time running the Olympics. I had no role whatsoever in the management of Bain after I went to the Olympics and thats been demonstrated by people who work at Bain, by all of the documents but I still retained an ownership interest.
Crawford: Even if you werent making daily managerial decisions, though, doesnt the buck stop with you?
Romney: Actually, when you leave an enterprise and you have other people who are managing the enterprise, who take responsibility for the investment decisions, who decide whos going to get hired and fired, who decide compensation decisions, theyre the managers, theyre the people running the business.
http://livewire.talkingpointsmemo.com/entries/romney-no-buck-did-not-stop-with-me
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Romney: No, The Buck Did Not Stop With Me At Bain (Original Post)
ProSense
Jul 2012
OP
cindyperry2010
(846 posts)1. well there just went that great business
experience out the window
Tx4obama
(36,974 posts)2. Bottom line: Romney is responsible for putting the people in place that outsourced the jobs
Since Romney was the sole owner of Bain (owned 100% of the stock) he was the person that put those folks into the upper management positions.
I've never in my life (before now) ever heard of anyone that owned 100% of a company say they had no responsibility at all for what the company does.
Is Romney that delusional that he thinks we would believe this bullshit?
elehhhhna
(32,076 posts)3. Duh. The bucks ran through him and straight to the Caymans
muriel_volestrangler
(101,321 posts)4. WTF does he think "executive" means?
This is a pretty important question, given the job he's now applying for.
William Seger
(10,779 posts)5. Bullshit
The reason that Rmoney was still listed as CEO and managing director -- not just owner -- was that he DID NOT delegate those responsibilities to anyone else, period.
B Calm
(28,762 posts)6. Typical boss, never ever take responsibility!
GOP party of personal responsibility my ass!!