Activism Discussion: 100 Million IRAs/401Ks Were Common Among Bain Partners

100 Million IRAs/401Ks Were Common Among Bain Partners
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Dom
2012-08-17 13:52:31 EST
http://articles.boston.com/2012-08-11/news/33138965_1_bain-partners-iras-simplified-employee-pension-plan

The Boston Globe August 11, 2012

Romney built a golden IRA while he was at Bain
His holds up to $100 million; at Bain, ordinary retirement funds found
extraordinary uses

By Michael Kranish and Beth Healy, Globe Staff

<<Romney has not provided details about how his IRA grew so large. But
Romney associates with direct knowledge about the matter said Bain
Capital partners used their IRAs as a pool of investment money,
enabling them to make personal investments in Bain deals, many of
which earned spectacular returns. Much as a lower-dollar investor
might pick mutual funds for an IRA, the Bain partners could make side
investments in the firm's deals and then watch as their retirement
funds grew.

Or exploded, in some cases. For example, in one deal for a credit-
reporting service known as Experian, Bain tripled its $100 million
investment in just seven weeks. This could have resulted in a 40
percent tax on short-term gains for partners who made personal
investments in that deal. But by using funds within an IRA to make the
investment, Bain partners would not have to pay any tax on their
personal stake until the funds are withdrawn upon retirement. While
Romney has not said whether he used the IRA in that particular deal,
his associates said the practice was widely used at Bain.

The short-term capital gain profits "could have been taxed at 40
percent and were instead taxed at zero," one Romney associate said,
referring to tax rates in effect at the time of the 1996 Experian
deal. In many other cases, where longer-term gains could have been
taxed at a lower rate, they similarly would not have been subject to a
tax until the funds were withdrawn. The cumulative effect - with
profits from each success reinvested in the next deal - helps explain
how Romney's IRA could have grown so large, according to his
associates.>>

Joe Cooper
2012-08-17 16:49:08 EST
Dom <DRosa@teikyopost.edu> wrote in
news:13ce2932-36a6-46dc-9970-558f6aa0fb7d@z6g2000vbc.googlegroups.com:

> http://articles.boston.com/2012-08-11/news/33138965_1_bain-partners-ira
> s-simplified-employee-pension-plan
>
> The Boston Globe August 11, 2012
>
> Romney built a golden IRA while he was at Bain
> His holds up to $100 million; at Bain, ordinary retirement funds found

Good. This tells me that, unlike Barack Obama, Romney understands how to
conduct business on a large scale successfully. He will bring those talents
to the White House and turn this horrid economy around.

Thanks for posting this.


--
I do not want a President who is really rich. The rich are
out of touch...Unless their last name is Kennedy, Obama or
Kerry, or they run as a Democrat.

Dom
2012-08-18 10:11:11 EST
On Aug 17, 4:49 pm, Joe Cooper <joecooper1...@gmail.com> wrote:
> Dom <DR...@teikyopost.edu> wrote innews:13ce2932-36a6-46dc-9970-558f6aa0fb7d@z6g2000vbc.googlegroups.com:
>
> >http://articles.boston.com/2012-08-11/news/33138965_1_bain-partners-ira
> > s-simplified-employee-pension-plan
>
> > The Boston Globe August 11, 2012
>
> > Romney built a golden IRA while he was at Bain
> > His holds up to $100 million; at Bain, ordinary retirement funds found
>
> Good. This tells me that, unlike Barack Obama, Romney understands how to
> conduct business on a large scale successfully. He will bring those talents
> to the White House and turn this horrid economy around.

The corporate-raider-plunderer Romney is a complete phony. The
takeover of the U.S. government by Romney and his "investors" will be
the ultimate corporate heist.

Bert
2012-08-18 16:48:08 EST
In news:5c4fe8b7-ad43-40af-8077-9f2947e197a5@p5g2000vbl.googlegroups.com
Dom <DRosa@teikyopost.edu> wrote:

> The corporate-raider-plunderer Romney is a complete phony. The
> takeover of the U.S. government by Romney and his "investors" will be
> the ultimate corporate heist.

You think so?

Maybe you should try voting for someone who aims to remove the grip of
the government's fingers from the US economy.

http://www.garyjohnson2012.com/front

--
b*t@iphouse.com St. Paul, MN

Kalamity Jain
2012-08-18 20:50:35 EST
Bert <bert@iphouse.com> wrote in news:XnsA0B3A0BF81FE2VeebleFetzer@
216.250.188.140:

> Maybe you should try voting for someone who aims to remove the grip of
> the government's fingers from the US economy.
>
> http://www.garyjohnson2012.com/front

That's one way to help re-elect Obama.

As much as I respect the Libertarian cause, now isn't the time to split the
opposition vote - things are too close to gamble.

http://www.cafepress.com/fireobama.572038651



--
Freedom or Free Stuff?
Pick one...
http://www.cafepress.com/noowebama

Bert
2012-08-19 11:03:05 EST
In news:XnsA0B3BFA68F8AJustCloudScam@88.198.244.100 Kalamity Jain
<*e@home.com> wrote:

> Bert <bert@iphouse.com> wrote in news:XnsA0B3A0BF81FE2VeebleFetzer@
> 216.250.188.140:
>
>> Maybe you should try voting for someone who aims to remove the grip
>> of the government's fingers from the US economy.
>>
>> http://www.garyjohnson2012.com/front
>
> That's one way to help re-elect Obama.

So you'll vote for someone who's not in any way that matters different
from Obama.

Good idea.

[Newsgroups restored]

--
b*t@iphouse.com St. Paul, MN

Bert
2012-08-19 11:07:03 EST
In news:XnsA0B3BFA68F8AJustCloudScam@88.198.244.100 Kalamity Jain
<*e@home.com> wrote:

> stuff

Are all of these posters really you?

"d'Jew schtupping Grosvenor" <marywilliams13@mail.kz> "51d2d332dfe965a9b30f74340b4d3b06"
Bob Wilson <hesscareer@worker.com> "51d2d332dfe965a9b30f74340b4d3b06"
Joe Cooper <joecooper1100@gmail.com> "51d2d332dfe965a9b30f74340b4d3b06"
Kalamity Jain <kalamityjane@home.com> "51d2d332dfe965a9b30f74340b4d3b06"
Karolin Gaho <sggbe.westernunion@ymail.com> "51d2d332dfe965a9b30f74340b4d3b06"
KCOM <kcom@mailcircuit.com> "51d2d332dfe965a9b30f74340b4d3b06"
Kumbaya Bongobanger <c.b_nig@yahoo.com> "51d2d332dfe965a9b30f74340b4d3b06"
Kumbaya Flauerpower <c.b_nig@yahoo.com> "51d2d332dfe965a9b30f74340b4d3b06"
Kumbaya Flauerpower <colo_tafa6@yahoo.co.uk> "51d2d332dfe965a9b30f74340b4d3b06"
Kumbaya Flauerpower <imagingedit@163.com> "51d2d332dfe965a9b30f74340b4d3b06"
Kumbaya Flauerpower <mr_denisslwarence@superposta.com> "51d2d332dfe965a9b30f74340b4d3b06"
Kumbaya Flauerpower <mrahmedshaheen99@yahoo.co.jp> "51d2d332dfe965a9b30f74340b4d3b06"
Kumbaya Flauerpower <nora_41good@yahoo.com> "51d2d332dfe965a9b30f74340b4d3b06"
Kumbaya Potsmokr <c.b_nig@yahoo.com> "51d2d332dfe965a9b30f74340b4d3b06"
Ma Vangel <mustafakarim@yahoo.cn> "51d2d332dfe965a9b30f74340b4d3b06"
Mulyana <mulyana@hotmail.com> "51d2d332dfe965a9b30f74340b4d3b06"
Western Onion <wwunionoffice008@gmail.com> "51d2d332dfe965a9b30f74340b4d3b06"
William Grosvenor <mulyana@hotmail.com> "51d2d332dfe965a9b30f74340b4d3b06"
William Grosvenor <wgr5157@gmail.com> "51d2d332dfe965a9b30f74340b4d3b06"
William Grosvenor <wilson.joseph@gmx.co.uk> "51d2d332dfe965a9b30f74340b4d3b06"

--
b*t@iphouse.com St. Paul, MN

Dom
2012-08-19 11:33:10 EST
On Aug 18, 4:48 pm, Bert <b...@iphouse.com> wrote:
> Innews:5c4fe8b7-ad43-40af-8077-9f2947e197a5@p5g2000vbl.googlegroups.com
>
> Dom <DR...@teikyopost.edu> wrote:
> > The corporate-raider-plunderer Romney is a complete phony. The
> > takeover of the U.S. government by Romney and his "investors" will be
> > the ultimate corporate heist.
>
> You think so?
>
> Maybe you should try voting for someone who aims to remove the grip of
> the government's fingers from the US economy.
>
> http://www.garyjohnson2012.com/front

The last thing we need is more libertarian flimflam. It is truly
amazing that Teddy Roosevelt's Address at the Convention of the
National Progressive (Bull Moose) Party in 1912 is just as valid today
as it was a century ago. The following is the beginning of the
Address.

"To you, men and women who have come here to this great city of this
great State formally to launch a new party, a party of the people of
the whole Union, the National Progressive Party, I extend my hearty
greeting. You are taking a bold and a greatly needed step for the
service of our beloved country. The old parties are husks, with no
real soul within either, divided on artificial lines, boss-ridden and
privilege-controlled, each a jumble of incongruous elements, and
neither daring to speak out wisely and fearlessly what should be said
on the vital issues of the day. This new movement is a movement of
truth, sincerity, and wisdom, a movement which proposes to put at the
service of all our people the collective power of the people, through
their Governmental agencies, alike in the Nation and in the several
States. We propose boldly to face the real and great questions of the
day, and not skillfully to evade them as do the old parties. We
propose to raise aloft a standard to which all honest men can repair,
and under which all can fight, no matter what their past political
differences, if they are content to face the future and no longer to
dwell among the dead issues of the past. We propose to put forth a
platform which shall not be a platform of the ordinary and insincere
kind, but shall be a contract with the people; and, if the people
accept this contract by putting us in power, we shall hold ourselves
under honorable obligation to fulfill every promise it contains as
loyally as if it were actually enforceable under the penalties of the
law."

The entire Address is at:

http://www.ssa.gov/history/trspeech.html

The National Progressive Party Platform is at:

http://www.pbs.org/wgbh/amex/presidents/26_t_roosevelt/psources/ps_trprogress.html

Bert
2012-08-19 11:40:47 EST
In
news:355c211d-de28-48e4-a88a-298a1f071e69@k20g2000vbk.googlegroups.com
Dom <DRosa@teikyopost.edu> wrote:

>
> The last thing we need is more libertarian flimflam.

Sure. What we need is more Democrat and Republican flimflam.

It's been working just great for the past few decades.

Right?

--
b*t@iphouse.com St. Paul, MN

Dom
2012-08-19 20:48:24 EST
On Aug 19, 11:40 am, Bert <b...@iphouse.com> wrote:
> Innews:355c211d-de28-48e4-a88a-298a1f071e69@k20g2000vbk.googlegroups.com
>
> Dom <DR...@teikyopost.edu> wrote:
>
> > The last thing we need is more libertarian flimflam.
>
> Sure. What we need is more Democrat and Republican flimflam.
>
> It's been working just great for the past few decades.

Did you bother to read the rest of my reply?

<<It is truly amazing that Teddy Roosevelt's Address at the Convention
of the National Progressive (Bull Moose) Party in 1912 is just as
valid today as it was a century ago. The following is the beginning of
the Address.

"To you, men and women who have come here to this great city of this
great State formally to launch a new party, a party of the people of
the whole Union, the National Progressive Party, I extend my hearty
greeting. You are taking a bold and a greatly needed step for the
service of our beloved country. The old parties are husks, with no
real soul within either, divided on artificial lines, boss-ridden and
privilege-controlled, each a jumble of incongruous elements, and
neither daring to speak out wisely and fearlessly what should be said
on the vital issues of the day. This new movement is a movement of
truth, sincerity, and wisdom, a movement which proposes to put at the
service of all our people the collective power of the people, through
their Governmental agencies, alike in the Nation and in the several
States. We propose boldly to face the real and great questions of the
day, and not skillfully to evade them as do the old parties. We
propose to raise aloft a standard to which all honest men can repair,
and under which all can fight, no matter what their past political
differences, if they are content to face the future and no longer to
dwell among the dead issues of the past. We propose to put forth a
platform which shall not be a platform of the ordinary and insincere
kind, but shall be a contract with the people; and, if the people
accept this contract by putting us in power, we shall hold ourselves
under honorable obligation to fulfill every promise it contains as
loyally as if it were actually enforceable under the penalties of the
law."

The entire Address is at:

http://www.ssa.gov/history/trspeech.html>>
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