The Cinderella Syndrome.
He deceived the SEC while holding the ultimate control of the company hostage for the wealth he wanted. He could have changed his mind completely from any of that status and told the Olympic Committee to find another CEO. He wasn't about to give up control. The election for Governor turned the corner for those at Bain that would take over the company.
He has been lying about this for so long all those close to him are willing to play along. Romney pointing to a committee making day to day decisions is like saying, "But little sister did it."
As sole owner, CEO and President of Bain Capital he wasn't about to take his finger off the pulse of that company and to believe for one minute all activities and employees were ostracized out of his life is outrageous. He needs to stop trying to blame anyone else but himself.
The SEC needs to investigate the brevity of these activities. I haven't changed my mind about anything and the discussion is closed. More than ever.
...Conard contended that, despite Romney’s legal status as CEO and sole owner of Bain Capital on federal regulatory documents filed with the SEC, a “management committee” oversaw the company’s day-to-day operations after Romney left in 1999. According to former Securities and Exchange Commission officials, however, representing Romney as the CEO of the company when he was no longer in charge would have been misleading to both federal regulators and investors.
“If the information is not correct then investors are potentially being materially misled,” Edward Siedle, a securities lawyer formerly with the SEC’s Division of Investment Management, said in a telephone interview Saturday. “The filings are supposed to require material disclosure. I mean, these aren’t pointless forms.”
Siedle added that both investors and federal regulators rely on timely and accurate filings for up-to-date information about a financial company’s operations, and that the officers listed on the filings should be considered responsible for the company’s actions. “All those designations indicate that he had significant responsibility at the firm,” Siedle said of Romney. “There’s a reason he was listed as president and CEO all those years.”
