Mr. Romney says he cannot be held responsible for a Bain-owned steel plant that went bankrupt in 2001, claiming he had no active operating role at Bain Capital after 1999. But the Boston Globe, citing corporate documents filed by Bain with the Securities and Exchange Commission, reported that Mr. Romney remained chief executive of the company through 2002.
1. That Romney had no operating role in a steel company he was vandalizing makes perfect sense to me.
His business model seems to have been as much or more tuned to realizing liquidity of his takeovers than profitable operation. He certainly had no special knowledge or experience to make operating decisions in the areas of business and industry of the companies he captured.
Consequently, his statement is probably not a total untruth, but rather an acknowledgement of his modus operandi, which most Americans will find abominable.
Mr. Romney doesn't want to discuss his income or Bain's revenue stream because average people won't understand, and their perspective of Bain and Romney "will be distorted" and completely miss the goodness and path to success vulture capitalism has provided Romney.