Comment

Romney Says He's Not Responsible for Bain After 1999

133
wrenchwench7/13/2012 4:57:23 pm PDT

re: #97 danarchy

I mentioned this at the end of the last thread but the Bain Capital entity he was sole shareholder of was just a management construct for dealing with payrolls and other such purposes. Each of the funds that actually did the investing was a separate LLC or LP. Without knowing the actually structure of the entire thing saying he had absolute hiring and firing authority etc. is a stretch. Having spent a lot of time doing IT support for VC and Private Equity firms the funds are generally managed by one of the partners and have an awful lot of autonomy.

Incorrect. There were no LLCs before 1999, and maybe not until 2003. Look at the document linked in goddamnedfrank’s #110 above.