Fund Your Utopia Without Me.™

14 July 2012

Treading Water: Why the Obama Campaign is Doing Worse Than It Seems


M2RB:  Pasitoa Asi Pito covering Chris Brown






What do you say?
What do you mean?
That you blame me

I’m treading water
I’m treading water
Please don’t cry cause your drowning me

Oh oh-ohhhh

Oh oh-ohhhh 
It's all about me.





Vote Obama 2012 and we can tread water for four more years!!!

(oh, and that's the best-case scenario)



By William Galston, The New Republic


President Obama’s team perhaps once hoped to reenact Ronald Reagan’s triumphant 1984 march to reelection. But it’s now clear that they’re condemned to repeat George W. Bush’s much less inspiring campaign in 2004.

The playbook is clear: A barrage of negative advertising to define your opponent before he can define himself; a stream of issues and events to mobilize your base; and a meticulous ground game to squeeze every last vote out of the base come November. As for the small number of voters who haven’t made up their minds already, you don’t try to argue that they’ve never had it better, but rather that the other guy is unacceptable. In the end, you win a narrow victory by default. Sure, you haven’t really confronted the country’s deepest problems. But there’ll be plenty of time to deal with them next year.

The only justification for such a campaign is necessity, and the only vindication is victory. So how is it going so far? Three recent national surveys offer some clues.
First the toplines. ABC/Washington Post puts the candidates in a dead heat, 47-47; Quinnipiac gives Obama a narrow 46-43 edge, within the margin of error; Pew shows Obama with a 7-point lead, 50-43. ABC/WP places Obama’s job approval at 47 percent; for Quinnipiac, it’s 45 According to the latter, 47 percent of the people believe that Obama deserves reelection, while 49 don’t.

Some other ABC/WP findings help explain the electorate’s reservations about the president. Only 44 percent approve of his handling of the economy, by far the most important issue in this year’s election, versus 54 percent who don’t. When asked which candidate they trusted to do a better job handling the economy, 49 percent said Romney, while only 44 chose Obama. Quinnipiac had it a bit closer—Romney 46, Obama 45. Pew offers this oddity: while its survey finds Obama leading 48-42 on “improving economic conditions,” Romney leads 46-42 on “improving the job situation.” When asked a forward-looking question—what they thought of the president’s plans for the economy, only 44 percent of the Quinnipac sample expressed a favorable view, compared to 50 percent unfavorable. In the ABC/WP survey, only 36 percent thought that Obama’s handling of the economy was a major reason to support him, versus 43 percent who thought it was a major reason to oppose him.

Is Romney in great shape on the economy? Anything but. Only 40 percent of the WBC/WP respondents had a favorable view of his economic plans, versus 46 percent unfavorable. And by 43 to 38 percent, they thought that Obama had presented a clearer plan for the economy than had Romney. (In late October of 2008, Obama led McCain by 50 to 32 on that same measure. Romney’s doing much better than his Republican predecessor, while Obama is doing much worse than he did four years ago.)

For reasons I don’t understand, the Pew surveys have pretty consistently yielded better results for Obama—larger edges and higher shares of the electorate—than have those from most other organizations over the past few months. For our purposes, however, the most important finding from their latest survey is this: “there is no clear trend in either candidate’s support since Romney wrapped up the GOP nomination … The presidential campaign’s dynamics have changed little in recent months.” Quinnipiac finds exactly the same thing, while ABC/WP shows that the boost Obama got from the unsightly Republican nominating contest was at best temporary.

Given the strategic decisions the Obama campaign has made, two questions emerge as decisive. First, what are the prospects for a 2004-style mobilization of its base coalition? By all accounts, Obama’s team has a substantial head-start in the organizational nuts and bolts needed for a successful get-out-the-vote effort. But compared to 2008, it may be an uphill fight. In his first presidential campaign, Obama enjoyed a huge edge among young adults and did worst among older voters. But new numbers from Gallup indicate that by an astonishing 20 percentage points, fewer voters aged 18 to 29 say that they will definitely vote than they did four years ago, and their voting intentions fall short of this year’s average among all registered voters by the same margin. By contrast, relative to the electorate as a whole, more older voters are committed to voting. The same Gallup survey shows diminished enthusiasm among Hispanic voters. In 2008, members of this pivotal group were a modest 8 points below the national average for definite voters. This year, it’s 14 percent.

To be sure, there’s time to gin these numbers up, and history suggests that the intentions of groups who are more weakly attached to the electoral process can change more than those of groups for whom voting is an established habit. Still, Obama’s 2008 mobilization effort had the wind in its sails, while this year’s effort faces some significant headwinds—perhaps enough to negate the much-discussed demographic shift in his favor over the past four years.

The second key question for Obama’s strategy is whether his campaign’s attack on Mitt Romney is succeeding in defining him as an unacceptable alternative. Based on the evidence, it’s too early to say.

On the one hand, the last round of Bain attacks has clearly rattled the Romney campaign, and a smattering of survey evidence suggests that the sustained ad campaign in swing states has scored some points. On the other hand, the Pew survey found no shift since May in swing-state voter preference.

But it’s not too early to say that Obama’s vital signs look dicey. Over the past 33 months, his job approval has been lower than George W. Bush’s at a comparable time in his presidency for all but one week. Bush averaged above 50 percent in the quarter before his successful reelection campaign, while Obama has been stuck in the 46-48 percent range for months. And the famous “wrong track” measure now stands at 63 percent, versus 55 percent in the days preceding the vote in 2004. If these two numbers don’t improve for Obama, his presidency will be in jeopardy. And they probably won’t—unless the economy perks up noticeably.


William A. Galston is a contributing editor for The New Republic. He holds the Ezra Zilkha Chair in the Brookings Institution’s Governance Studies Program, where he serves as a Senior Fellow. He is also College Park Professor at the University of Maryland. Prior to January 2006 he was Saul Stern Professor at the School of Public Policy, University of Maryland, director of the Institute for Philosophy and Public Policy, and founding director of the Center for Information and Research on Civic Learning and Engagement (CIRCLE). From 1993 until 1995 Galston served as Deputy Assistant to President Clinton for Domestic Policy. Galston is the author of eight books and more than 100 articles in the fields of political theory, public policy, and American politics. His most recent books are Liberal Pluralism (Cambridge, 2002), The Practice of Liberal Pluralism (Cambridge, 2004), and Public Matters (Rowman & Littlefield, 2005). A winner of the American Political Science Association’s Hubert H. Humphrey Award, he was elected a Fellow of the American Academy of Arts and Sciences in 2004.



Treading Water - Chris Brown

Oh oh-ohhhh
Oh oh-ohhhh
You said I’m not giving enough
But baby girl I’m trying so hard to
Keep up, when you fear
That I’ma always leave you lonely
But you see that I want us to last forever
And my heart stays open..
Darling you know it will get better
But you know that shit won’t happen over night
We just gotta give love a try
And when you look beside you
Girl I’ll be there

When it rains down your face

Tell me where do the tears end up
Don’t wanna drown in the rivers of your sorrow
And I, I will swim a thousand miles
Just for one minute to see you smile

I’m treading water

I’m treading water
Please don’t cry cause your drowning me

Oh oh-ohhhh

Oh oh-ohhhh
What do you say?
What do you mean?
That you blame me
Why is it today that you doubted me
That I’m a always leave you lonely
But you see that I want us to last forever
And my heart stays open
Darling you know it will get better
But you know that shit won’t happen over night
We just gotta give love a try
And when you look beside you
Girl I’ll be there

When it rains down your face

Tell me where do the tears end up
Don’t wanna drown in the rivers of your sorrow
And I, I will swim a thousand miles
Just for one minute to see you smile

I’m treading water

I’m treading water
Please don’t cry cause your drowning me

Oh oh-ohhhh

Oh oh-ohhhh 

13 July 2012

Obama Campaign Jumps The Shark! - Mitt Romney A Felon!!!

 

M2RB:  The Beach Boys

 

 

 

Wipin' out wipe out  
Wipin' out wipe out  
Hey, watch out!

Here we go, here go  
Wah wah wah  
Wipin' out wipe out

 





    "...All these attacks [by Team Obama] may be hurting the president’s brand a little bit....our supporters went a little bit too far with the felony business.”
     
     - Governor Ed Rendell and Former Chairman of the Democratic National Committee



     


    Why does it matter when Mitt Romney left Bain Capital?

    Millions of dollars of attack ads by the Obama campaign are hanging in the balance. If Romney left Bain in February 1999, when he departed to run the Olympics, then a number of business deals that went sour (such as KB Toys) can’t be counted as part of Romney’s tenure. If he actually left in 2002, as the Obama campaign alleges, then those deals are fair game.

    We have looked at this issue before, back in January, and thought we had settled it.

    But now the Boston Globe has raised the issue again. The story seems to hinge on a quote from a former Securities and Exchange Commission member, which would have more credibility if the Globe had disclosed she was a regular contributor to Democrats. (Interestingly, “The Real Romney,” a book on the former Massachusetts governor, by Boston Globe reporters, states clearly that he left Bain when he went to run the Olympics and details the turmoil that ensued when he suddenly quit, nearly breaking up the partnership)

    We’re considering whether to once again take a deeper look at this, though it really feels like Groundhog Day again. There appears to be some confusion about how partnerships are structured and managed, or what SEC documents mean. (Just because you are listed as an owner of shares does not mean you have a managerial role.)

    To accept some of the claims, one would have to believe that Romney, with the advice of his lawyers, lied on government documents and committed a criminal offense. Moreover, you would have to assume he willingly gave up his share to a few years of retirement earnings — potentially worth millions of dollars — so he could say his retirement started in 1999.

    UPDATE: Fortune obtained the offering documents for a Bain Capital Fund circulating in June 2000, as well as a fund in 2001. None of the documents show that Romney was listed as being among the “key investment professionals.” As Fortune put it, “the contemporaneous Bain documents show that Romney was indeed telling the truth about no longer having operational input at Bain -- which, one should note, is different from no longer having legal or financial ties to the firm.”

    For interested readers, below is a summary of what we, FactCheck.org and Fortune magazine have previously concluded.


     

    A 2002 statement he filed with the Massachusetts State Ethics Commission on his financial interests lists ownership of various Bain entities, some of which appear to intersect with the funds that invested in KB Toys. The document says that Romney is “a passive, limited partner [with] no management capacity” in many of these funds.

    In the Massachusetts document, Romney is also listed as 100 percent owner of “Bain Capital Inc.” But there is less than meets the eye here. Bain Capital Inc. was the management firm, which was paid a management fee to run the funds and actually made virtually no profit, since it existed to pay salaries and expenses. After Romney formally left Bain in 2001, a new entity called “Bain Capital LLC” took over the management function.

    By virtually all accounts, Romney was focused on the Olympics in the 1999-2002 period. Yet because Romney had not legally separated from Bain, his name is littered across Securities and Exchange Commission filings concerning Bain Capital deals during this period. The crazy quilt of private-equity structures, in some ways, makes his ownership appear even more ominous, as the filings list hundreds of thousands of shares controlled by Romney.

    Even so, it is a real stretch to claim that Romney — himself — “closed” these stores. No evidence has emerged that he was involved in the KB Toys transaction. Indeed, when creditors sued over the dividend payment, they named six Bain-controlled entities and three Bain executives who had served on the board of KB Holdings.

    Given that the plaintiffs’ lawyers will try to list as many defendants as possible to try to force a settlement, one can be certain Romney would have been named if there had been any hint of his involvement. But he was not named, despite the SEC filings suggesting his control of the shares.

    In other words, creditors apparently had determined Romney was only a passive investor.


     

    If the Obama campaign were correct, Romney would be guilty of a federal felony by certifying on federal financial disclosure forms that he left active management of Bain Capital in February 1999….

    And after reviewing evidence cited by the Obama campaign, we reaffirm our conclusion that Romney left the helm of Bain Capital when he took a leave of absence in 1999 to run the Salt Lake City Organizing Committee for the 2002 Winter Olympics – as he has said repeatedly — and never returned to active management. 

    The Obama campaign’s recent ads thus mislead when they point to investments made by Bain, as well as management decisions made by companies in which Bain invested, after that time.

    What does the Obama campaign have in rebuttal? Very little, and none of it convincing in our judgment.

    Much of the Obama campaign’s letter is devoted to quoting portions of documents filed with the Securities and Exchange Commission. In summary, the letter states there are “at least 63 filings with that agency after March 1, 1999 that list various Bain entities and describe them as ‘wholly owned by W. Mitt Romney.’” That’s true, but not relevant.

    We have never disputed that Romney remained the owner of Bain while he was running the Olympics committee. The issue always has been, who was running Bain? 

    Nothing in the SEC documents contradicts what Romney has certified as true.
    On that point, the Obama campaign cites snippets of a few news clippings to make a case that Romney was still a part-time manager of Bain after he left to run the Olympics. But a close reading shows these news accounts don’t contradict Romney either.


     

    Remember, Romney did not leave Bain Capital as part of a long-term, planned succession process. Instead, his departure was fairly sudden — borne of a desire to help salvage an Olympic Games that was $1.4 billion in the hole and tarred by a massive bribery scandal. The very first reports of Romney being considered for the Salt Lake City job were on Feb. 2, 1999. Just nine days later, he officially took over.

    Not surprisingly, Bain Capital hadn’t worked out all the details of Romney’s departure. It eventually would discard the CEO position in favor of a horizontal management committee made up of numerous partners, and provide Romney with a golden parachute that included limited partnership interests in all Bain-related funds raised through 2009 (including the option for Romney to invest additional monies). But none of that was in place when Romney took the Salt Lake City job.

    Moreover, unwinding a private equity firm’s ownership structure is extremely complicated. The “firm” itself is largely a legal construct of convenience, since it doesn’t pay salaries, make investments or do much of anything else. Instead, what matters are the individual funds.

    In the case of Bain Capital’s funds, it’s reasonable to assume that Romney was considered a “key man,” meaning that each fund’s limited partners could have voted to end the fund’s investment period — or take over fund management themselves — if a super-majority felt it prudent. But that didn’t happen, and Bain saw no reason to expend massive administrative effort to amend existing funds. Instead, it asked Romney to sign documents when necessary, and made the managerial/ownership changes on new funds going forward….

    The part about lying to the SEC is absurd, since the SEC doesn’t require an owner to be the operational decision-maker (Romney delegated such responsibilities, as is his right).


     UPDATE:


    As lawyer and blogger John Hinderaker notes, those claiming that Romney committed any crimes or perpetrated fraud in 1999 is simply ignorant of the law. 

    …the fact that Romney was a “controlling person” for purposes of securities laws has nothing to do with whether he was running the company; nor is his status as a shareholder or director -- Romney owned the company until a buyout was completed in 2002 -- relevant. And whatever titles may have been recited in the filings shed no light on whether he made the investment decisions that the Obama administration now wants to criticize.

    Sadly, while The Times keeps spinning Obama's narrative for him, they are allowing the truth to go unreported.


    Related Reading:

    3 Pinocchios: Do Bain SEC Documents Suggest Mitt Romney Is A Criminal?








    Wipe Out - Beach Boys




    Heheheheheheee Wipe oooout!

    Wipin' out wipe out  
    Wipin' out wipe out 
    Wah wah wah  

    Wipin' out wipe out  
    Wipin' out wipe out  
    Wah wah wah 

    Wipin' out wipe out  
    Wipin' out wipe out 
    Wah wah wah  

    Wipin' out wipe out  
    Wipin' out wipe out  
    Hey watch out  

    Here we go here go  
    Wah wah wah  
    Wipin' out wipe out
     

    For three years straight we toured the nation  
    When we get through we needed a vacation  
    We wanted to party and get a little rest 
    So we packed our things and headed out west  
    We got our surfboards took the beach-ball out  
    Jumped in a limousine ready to "Wipeout"
     

    Now we're ready to go 
    Here we go here we go  
    One one two one two one two hit it D  
    Here we go
     

    We got to California I said headed for the beach 
     There were girls galore all within our reach  
    There was sand and sun and lots of fun  
    But when we get there the fun really begun  
    So we cut on the box and started to shout  
    It was the Beach Boys rockin' huh huh the "Wipeout"
     

    Oo oo  
    Ooo ooo 
    Oo  
    Oo  
    Oo oo
     
    Wa-ah-ah-ah wawawa-ooh-oo  

    Wa-ah-ah-ah wawawa-ooh-oo  

    That's it, that that that's it dit dit dit dit dit  
    Hit it D
     

    The sun went down and the night began 
    We was rapping for the people cold chillin' boppin'  
    We was partying hard making lots of noise  
    When around the corner came the real Beach Boys 
    So we all jumped up and started to shout 
    "Let's all sing the song called the 'Wipeout'"
     

    Wipin' out wipe out  
    Wipin' out wipe out 
    Wah wah wah 
    Wipin' out wipe out 
    Wipin' out wipe out  
    Wah wah wah 
    Wipin' out wipe out  
    Wipin' out wipe out  
    Wah wah wah  
    Wipin' out wipe out  
    Wipin' out wipe out  
    Hey watch out  
    Wah wah wah  
    Wipin' out wipe out
     

    Stay go stay go stay go  
    Bring it out now
     

    Wipin' out wipe out 
    Wipin' out wipe out 
    Wah wah wah 
    Wipin' out wipe out  
    Wipin' out wipe out  
    Wah wah wah  
    Wipin' out wipe out 
    Wipin' out wipe out  
    Wah wah wah 
    Wipin' out wipe out  
    Wipin' out wipe out 
    Hey watch out  
    Wah wah wah  
    Wipin' out wipe out

    3 Pinocchios: Do Bain SEC Documents Suggest Mitt Romney Is A Criminal?




    M2RB:  Beastie Boyz







    D. pulled me over said, "Hide your gold,
    The girl is crafty like ice is cold!"
    The girl is crafty - she knows all the moves
    I started playing records - she knew all the grooves
    He thought she was a thief - and D. was right
    But I just figured she'd spend the night
    When I woke up late in the afternoon

    She had taken all the things from inside his room
    I found myself naked in the middle of the floor
    She had taken the bed and the chest of drawers
    The mirror, the TV, the guitar cord
    My remote control and my old skateboard
    She robbed us blind - she took all we owned
    And the boys blamed me for bringing her home








    "Romney and Bain claim that he was not involved with Bain, but Bain and its portfolio companies in their required filings under the Securities Exchange Act continuously certified to the Securities and Exchange Commission say precisely the opposite — asserting without qualification that he was a controlling person, fully in charge of Bain, under the Federal securities law. Under normal circumstances, the question of the truth of this representation would result in an investigation by the SEC into possible criminal, as well as civil, violations of the law."

    — Robert Bauer, Obama campaign counsel, 13 July 2012




     
    There is a journalistic convention that appears to place great weight on “SEC documents.” But these are public filings by companies, which usually means there are not great secrets hidden in them. The Fact Checker, in an earlier life covering Wall Street, spent many hours looking for jewels in SEC filings. 

    As we wrote yesterday, we are standing with our assessment that Mitt Romney left the helm of Bain Capital in 1999, when he left to run the Salt Lake City Olympics. The date is important because some questionable investments by Bain took place between 1999 and 2002, when he ran for governor. But a Boston Globe article on Thursday raised new questions about that timeline, citing SEC filings, and the Obama campaign jumped to take advantage of it.

    Despite the furor, we did not see much new in the Globe article. We had examined many SEC documents related to Romney and Bain in January, and concluded that much of the language saying Romney was “sole stockholder, chairman of the board, chief executive officer, and president” was boilerplate that did not reveal whether he was actually managing Bain at the time. (For instance, there is no standard definition of a “chief executive,” securities law experts say, and there is no requirement for anyone to have any responsibilities even if they have that title.)

    The one thing new we saw in the Globe story was the assertion that “Romney’s state financial disclosure forms indicate he earned at least $100,000 as a Bain ‘executive’ in 2001 and 2002, separate from investment earnings.” But then we realized we had already reviewed those documents in January. The 2001 form describes him as a “former executive” (see page 1 of form A-5) — the campaign says this was retirement pay — but the 2002 form says “executive.” So either you believe he suddenly rejoined the firm, after leaving it, or someone made a typo.

     Romney’s sudden departure from Bain had left the partnership in flux, in fact almost breaking up the firm, and a final resolution was not reached until he ended his Olympic sojourn and decided to run for governor. At that point, he signed retirement papers that set his departure date as February 1999, the month he left for the Olympics.

     Fortune magazine on Thursday reported that it had obtained the offering documents for Bain Capital funds circulating in 2000 and 2001. None of the documents show that Romney was listed as being among the “key investment professionals” who would manage the money. As Fortune put it, “the contemporaneous Bain documents show that Romney was indeed telling the truth about no longer having operational input at Bain — which, one should note, is different from no longer having legal or financial ties to the firm.”

     Let’s also not forget that Massachusetts Democrats tried to keep Romney off the ballot in the 2002 governor’s race on the grounds that he had been living and working in Utah, even paying taxes there, and thus had failed to meet the requirement to have lived seven consecutive years in Massachusetts. The effort failed, but not after Democrats waged an expensive, months’ long battle to prove he worked so much on the Olympics that he was in effect a citizen of Utah. (More on this below.) 

    Still, the Obama campaign has raised a very serious charge of potential criminal behavior. Does it have much credibility?



    The Facts


     One of the SEC documents in question that has received attention in recent days is a Form 13D that was posted by Talking Points Memo.  A Form13D is filed when an investor or investment group announces that it has acquired more than five percent of the company.
    In this case, Bain had merged a juice producer it had bought in 1998 — Fresh Samantha — with a rival called Odwalla. In return, a Bain investment fund received 3,612,122 shares in the new company. When Odwalla was sold to Coca-Cola in 2001, the Bain investment group made $55 million, more than four times its initial investment.

    Romney is not mentioned in the filing Odwalla made at the time of the sale; instead, two Bain executives who sat on the board are listed. Romney is listed in the documents involving the investment fund that made the filing, Bain Capital Fund VI, L.P., which was formed prior to his departure for the Olympics.

    We consulted with securities law experts, with many years of experience with these forms. 

    One expert examined this document at our request. He suspected that someone had simply duplicated a filing that had been made many times before, though he acknowledged, “it looks inartful in retrospect.” He pointed out that the titles are basically meaningless, that someone can be listed as a chief executive and actually have no responsibilities whatsoever.

    The SEC can bring civil charges for discrepancies in filing 13D documents, but as far as we can tell none has ever been brought for someone listing a misleading title. The more common 13D investigation involves a situation in which investors secretly act in collusion to acquire more than five percent of the stock, but fail to disclose that — or if investors do not make a timely disclosure that their holdings have fallen below five percent.

    Moreover, there is a five-year statue of limitations, though the clock could start from when the SEC becomes aware of the matter. But 12 years have passed since the filing in question. Bringing in a federal prosecutor to examine criminal charges is even a bigger stretch.

    Romney often did not sign the SEC documents. In the Odwalla case, for instance, the filing was signed by someone named Mark E. Nunnelly, a Bain managing director.

    However, we have identified at least six filings that Romney did sign during this period: a April 13,, 1999 13D filing by Pirod Holdings regarding an investment in Rohn Industries; a Jan. 3, 2000 13D filing by VMM Merger Corp. regarding an investment in VDI MultiMedia; a Feb. 14, 2000 13G filing by Bain Capital Fund IV regarding Wesley Jessen Visioncare; a Feb. 13, 2001 13G filing by Bain Capital Fund VI regarding Integrated Circuit Systems; a Feb. 14, 2001 13G filing by Bain Capital Fund VI regarding ChipPAC; and a November 12, 1999 13G filing (first reported by Mother Jones) by Bain Capital Fund VI regarding Stericycle.

    These few filings may just represent the winding down of affairs. Or some might think there is something more nerfarious going on. But, remember, when Romney decided to run for governor in 2002, he received a retirement package that was dated Feb., 1999. (In effect, as of that date, he became an investor in Bain, not a partner.) If he had been working hard on these transactions, it would be strange for him to not demand payment for his services.

     We readily admit that there is grey area about Romney’s involvement with Bain in the 1999-2002 period, because his future post-Olympics role had not been settled and the future of Bain Capital was in flux. Some have seized on the SEC documents as evidence, but we think there are two stronger pieces of evidence that trump these random filings.

    Indeed, if someone wanted to make a criminal case, why quibble with ancient SEC documents? In 2011, Romney, as a presidential candidate, filed a public financial disclosure form, under pain of perjury, that stated:

    “Mr.  Romney  retired  from  Bain  Capital  on  February  11,  1999  to  head  the  Salt  Lake Organizing Committee.  Since February  11,  1999, Mr. Romney has  not had any  active role  with  any  Bain Capital  entity  and  has  not  been  involved  in  the  operations of any Bain Capital entity in any way.”

    You can see Romney’s signature, on the first page, in which he states:  “I certify that statements I have made on this form and all attached schedules are true, complete and correct to the best of my knowledge.”  If Romney lied on this form, that would be a felony. 

    That filing would seem to trump these SEC documents. Moreover, there is another document — the 2002 Massachusetts Ballot Law Commission report that certified that Romney could run for governor. The findings in this report were the result of weeks of testimony and investigation. We have embedded the report below.





    The report included these findings of fact, adopted unanimously by the Commission, made up of representatives of both parties:

    “The Respondent was employed in Massachusetts from 1975 until 1999.”
     “On February 11, 1999, the Respondent went to Utah to take the position of Chief Executive Officer (CEO) for the Salt Lake Organizing Committee of the 2002 Winter Olympic Games, a non-profit organization burdened by scandal and fiscal crisis.”
     “On or about February 11, 1999, the Respondent became an employee of the Salt Lake Organizing Committee for a fixed term of three years. While so employed, the Respondent worked, on average, over 12 hours per day, 6 days per week.”

    The report also stated: “The Respondent remained actively employed at Bain Capital until January 1, 1999, at which time he left to take the position of President and Chief Executive Officer of the Salt Lake Organizing Committee for the 2002 Winter Olympic Games.”

    The report showed that Romney remained on the board of three companies, two of which had Bain connections — Staples and LifeLike Co. The report said he returned to Massachusetts “to attend meetings at Staples,” but does not mention that he attended any meetings at Bain, even as it provides a long list of social events that brought him back to Massachusetts. One would think that if Romney was trying to prove continued links to Massachusetts, he would have emphasized he kept doing work for Bain.

    In other words, an official state investigation concluded that Romney no longer worked at Bain as of early 1999, and also was working “12 hours a day, six days a week” on the Olympics from 1999 to 2002. That also would seem to trump the SEC filings.

    Bauer, in an email, provided this statement:

     “Every 1934 Act filing is subject to the requirement that it be truthful, and are subject to potential civil and criminal charges.  For example, Form 13D is intended to alert investors that a person or persons has a 5% position and what their intentions may be.  Whether or not Mitt Romney will still active in Bain would be without doubt a material fact that an investor would want to know. No securities lawyer would say otherwise.  Civil charges can be solely for the purpose of setting the record straight, while criminal referral by the SEC to the Department of Justice is typically for cases where someone knowingly and intentionally filed a false 13D.  Whether a case is civil or criminal depends on the facts developed through investigation.”


    The Pinocchio Test


    The Obama campaign is blowing smoke here.We realize that Bauer gets to the word “criminal” by mentioning “investigation,” but that distinction might be lost on most listeners.

    Meanwhile, the weight of evidence suggests that Romney did in fact end active management of Bain in 1999. He stated that in a federal disclosure form he signed, under threat of criminal penalties. He said he was a “former employee” in a state disclosure form. A state commission concluded 10 years ago that he did, indeed, leave Bain in 1999.  Investors in Bain funds were told he was not part of the management team.

    The SEC documents, especially the ones Romney signed, do raise some questions. One can certainly argue that because Romney did not fully extricate himself from Bain till after his Olympic sojourn ended, he should bear some responsibility for what happened in that period. But that is an entirely different matter than suggesting that he is a potential criminal. It is more of a PR problem, which the Obama campaign is trying to exploit to build a larger case that Romney is secretive.

    We were tempted to award this claim Four Pinocchios, but the documents with his signature leave some room for inquiry.

    Still, if the Obama campaign wants to put its money where its mouth is, it should immediately lodge a complaint about Romney’s financial disclosure form, filed just last year, rather than try to mislead people about potential violations in relatively unimportant SEC documents. 



     Three Pinocchios 


     






    Obama Campaign Jumps The Shark! - Mitt Romney A Felon!!!




    She's Crafty - Beastie Boyz


    Well this girl came up to me - she says she's new in town
    But the crew been said they seen her around
    I thought they were right but I didn't wanna know
    The girlie was Def and she wanted to go
    I think her name is Lucy but they all call Loose
    I think I thought I seen her on eighth and forty-deuce

    The next think she said, "My place or yours?
    Let's kick some bass behind closed doors!"
    We got into the cab - the cab driver said
    He recognized my girlie from the back of her head
    He said a little something about tip to base
    So I made him stop the cab to get out of the place
    I shouldn't have looked back man I'll always regret it
    Something's going on and I'll probably never get it
    She was crying like a baby - stupid dumb
    It's just too bad that girl's a bum

    She's crafty - she's gets around
    She's crafty - she's always down
    She's crafty - she's got a gripe
    She's crafty - and she's just my type
    She's crafty

    I spent my last dollar to by a Sabrett
    When I seen this girl I could never forget
    Now I like nothing better than a pretty girl smile
    And I haven't seen a smile that pretty in a while
    The girl came up to me she said she loved the show
    Asked her to come home and she couldn't say, "No!"
    We got the crib - there's Adam and D.
    We didn't say a word - they just stared at me
    I said, "I don't know her just met her tonight."

    And Adrock started hiding everything in sight


    D. pulled me over said, "Hide your gold,
    The girl is crafty like ice is cold!"
    The girl is crafty - she knows all the moves
    I started playing records - she knew all the grooves
    He thought she was a thief - and D. was right
    But I just figured she'd spend the night
    When I woke up late in the afternoon

    She had taken all the things from inside his room
    I found myself naked in the middle of the floor
    She had taken the bed and the chest of drawers
    The mirror, the TV, the guitar cord
    My remote control and my old skateboard
    She robbed us blind - she took all we owned
    And the boys blamed me for bringing her home

    [repeat chorus]

    Track each presidential candidate's campaign ads
     

     

    When Wonder Bread Biden Speaks To An Empty Room, Does He Make A Sound?




    M2RB:  Rihanna & Jay-Z












    When the sun shines, we'll shine together
    Told you I'll be here forever
    Said I'll always be a friend
    Took an oath I'ma stick it out till the end
    Now that it's raining more than ever
    Know that we'll still have each other
    You can stand under my umbrella
    You can stand under my umbrella






    Photobucket
    The Obama campaign has said that attendance was low because of the rain.

    Obviously, the NAACP couldn't have been disappointed that President Obama, the First African-American President -- except to people like Morgan Freeman, Reverend Wrong, and other "authentic" blacks -- sent Wonder Bread Biden to speak in his place.  Could they?

    I'm sure that they understand that "he is doing his best and working really, really hard" even though:



    In June…

    Among the major worker groups, the unemployment rate:

    All blacks went up from 13.6% to 14.4%

    Black teenagers went up from 36.5% to 39.3%

    While the rates for:

    Adult men: 7.8% (no change)

    Adult women: 7.4% (no change)

    Teenagers: 23.7% (down from 24.6%)

    Whites: 7.4% (no change)

    Hispanics: 11.0% (no change)

    Asians: 6.3% (up from 5.2% in May)




    Surely, President Obama could have found something to say to his most vocal fans.  Couldn't he???




    I'm reminded of this....



    If The Ferret Speaks To An Empty Room, Does He Make A Sound?






    The Ferret speaking to an empty room at the Netroots Nation convention in Providence, Rhode Island, 9 June 2012.  I guess that many of the lunatics aren't buying his bullshit anymore either.


    ROTFLMAO!






    Umbrella - Rihanna & Jay-Z

    [Jay-Z]
    Ahuh Ahuh (Yea Rihanna)
    Ahuh Ahuh (Good girl gone bad)
    Ahuh Ahuh (Take three... Action)
    Ahuh Ahuh

    No clouds in my stones
    Let it rain, I hydroplane in the bank
    Coming down with the Dow Jones
    When the clouds come we gone, we Rocafella
    We fly higher than weather
    In G5's are better, You know me,
    In anticipation, for precipitation. Stack chips for the rainy day
    Jay, Rain Man is back with little Ms. Sunshine
    Rihanna where you at?

    [Rihanna]
    You have my heart
    And we'll never be worlds apart
    May be in magazines
    But you'll still be my star
    Baby cause in the dark
    You can't see shiny cars
    And that's when you need me there
    With you I'll always share
    Because

    [Chorus]
    When the sun shines, we'll shine together
    Told you I'll be here forever
    Said I'll always be a friend
    Took an oath I'ma stick it out till the end
    Now that it's raining more than ever
    Know that we'll still have each other
    You can stand under my umbrella
    You can stand under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh eh eh eh)

    These fancy things, will never come in between
    You're part of my entity, here for Infinity
    When the war has took it's part
    When the world has dealt it's cards
    If the hand is hard, together we'll mend your heart
    Because

    [Chorus]
    When the sun shines, we'll shine together
    Told you I'll be here forever
    Said I'll always be a friend
    Took an oath I'ma stick it out till the end
    Now that it's raining more than ever
    Know that we'll still have each other
    You can stand under my umbrella
    You can stand under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh eh eh eh)

    You can run into my arms
    It's OK don't be alarmed
    Come here to me
    There's no distance in between our love
    So go on and let the rain pour
    I'll be all you need and more
    Because

    [Chorus]
    When the sun shines, we'll shine together
    Told you I'll be here forever
    Said I'll always be a friend
    Took an oath I'ma stick it out till the end
    Now that it's raining more than ever
    Know that we'll still have each other
    You can stand under my umbrella
    You can stand under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh)
    Under my umbrella
    (Ella ella eh eh eh eh eh eh)

    It's raining
    Ooh baby it's raining
    Baby come here to me
    Come here to me
    It's raining
    Oh baby it's raining









    Rihanna & Jay-Z