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Romney interview with CBS News: Full transcript (Ownership vs Management of Bain Capital)
CBS ^ | 13 Jul 12 | Transcript

Posted on 07/13/2012 4:18:03 PM PDT by xzins

On Friday, July 13, 2012, presumptive GOP presidential nominee Mitt Romney sat down for interviews with all five networks following several days of heightened criticisms over his time at the private equity firm Bain Capital. Romney defended his work there to CBS News chief political correspondent Jan Crawford, and said the president owes him an apology for his campaign's "reckless and absurd" accusations. Below is a transcript of the full interview. Video clips are also available at CBSNews.com.

JAN CRAWFORD: Governor Romney, the Obama campaign is saying that you either committed a felony by lying to the SEC or you are lying to the American people about when you left Bain capital. What do you say to that?

GOV. MITT ROMNEY: Well, I think this kind of statement from the Obama team is really shocking, it's, it's ridiculous, and it's beneath the dignity of the presidency. Look we just had a report come out that millions of Americans remain unemployed. We have 8.2 percent unemployment. That's the 41st straight month we're above eight percent and the president's campaign comes out with these ridiculous charges that obviously every fact checker that looked at it has said it's absurd. And yet they keep on pushing it. I simply - I simply think the president has to recognize that this should be a campaign about the direction of the country, and these personal attacks have to stop.

CRAWFORD: But you say it's ridiculous. But why is there this discrepancy? You said you left Bain in 1999 yet Bain is listing you as CEO up until 2002, so why were you listed as CEO until 2002?

GOV. ROMNEY: The documents show that there's a difference between ownership, which is I owned shares in Bain, but I did not manage Bain. I left as everyone knows to go out and run the Olympics in February of 1999. I was full-time running the Olympics. I had no role whatsoever in the management of Bain after I went off to the Olympics. And that's been demonstrated by people who work at Bain, by all of the documents, but I still retained an ownership interest, I had the capacity if I were not on leave, if I were actually wanting to run the business to do so, but I did not. I left. And that's been demonstrated time and time again.

CRAWFORD: Even if you weren't making these daily managerial decisions, though, doesn't the buck stop with you?

GOV. ROMNEY: Actually when you leave an enterprise, when you have other people who are managing the enterprise, who take responsibility for all the investment decisions, who decide who's going to get hired and fired, who decide compensation decisions, they're the managers, they're the people running the business. I left the business and went off to run the Olympics, did that full time and after three years, when the Olympics were over, we arranged my departure officially from a retirement standpoint.

CRAWFORD: If I could then talk about before you left in 1999, Bain did invest in a series of companies that did expand overseas, sometimes at the expense of American workers -- are you responsible for those decisions?

GOV. ROMNEY: Well I'm not sure which ones you're talking about, but I can tell you the people who have looked at the charges that the Obama campaign comes out with, which is that somehow we outsourced jobs, they've said that those were false and misleading. That the ads are inaccurate. Some have given it multiple Pinocchios. The president keeps on trying to divert any attention he can from his failure to turn around the American economy, and that's what this campaign's about. But the president keeps on trying to find something about Bain which is simply not true. And I left Bain in February of 1999. People can point out how - I was in Salt Lake City for three straight years. I don't recall even coming back once to go to a Bain or management meeting. We were, I was out there running the Olympics and it was a full time job, I can tell you that.

CRAWFORD: So not once. You don't remember a board meeting, you don't remember talking about whether or not there should be outsourcing jobs overseas? Do you remember any involvement with Bain Capital from 1999 on?

GOV. ROMNEY: Jan I had no involvement with the management of Bain Capital after February of 1999. If I had, I would have brought that up at other places where it would have been beneficial to me. But look, I left Bain in February of 1999 as everyone knows I went out and ran the Olympic games. It was a fulltime job. I'm happy that Bain went on, on its own, and did a number of terrific things. Built a very large enterprise, larger than when I left it. But you know the truth is I left in February of 1999 as has been demonstrated time and time again. I was an owner, and being a shareholder doesn't mean that you're running the business. The people who are running it are the ones who run it today and by the way they've been on the air. A number of them are Obama supporters, by the way, actually one fellow who ran for U.S. Senate in Massachusetts, a Democrat, is a Bain Partner. He's been on the air saying the same thing. Mitt left in February of 1999, had no involvement whatsoever with management beyond that point.

CRAWFORD: But as an owner, would you have made money off some of the decisions after you left that were made by other people?

GOV. ROMNEY: Well as an investor, all of the investors participate in the success or failure of various investments, just like you do as a shareholder of an enterprise. But you're not managing that enterprise if you're a shareholder. If you're a shareholder in Ford Motor Company, for instance, you don't make the decision as to where they're going to build a facility or how many people they're going to hire. Those are decisions that are made by management.

CRAWFORD: But you were the sole owner? I mean, how should we be thinking about this? What was your role? You were the sole owner until 2002?

GOV. ROMNEY: I was the owner of a, of the general partnership but there were investors which included pension funds and various entities of all kinds that owned the, if you will, the investments of the firm. But I was the owner of an entity which was a management entity. That entity was one which I had ownership of until the time of the retirement program was put in place. But I had no responsibility whatsoever after February of '99 for the management or ownership - management, rather, of Bain Capital. And by the way, this is really the height of silliness. Don't you really think so? We've got people, 23 million people that are out of work or stopped looking for work, need jobs, and the Obama campaign is out there month after month talking about one attack after the other on me. How about talking about the president's failure to get this economy going? How about talking about a vision for who can get America working again and can see rising wages for the American people? But what he wants to do is try and divert any attention from his lack of success and frankly it's beneath the dignity of his office. He ought to apologize for what he's doing and do what he said when he called me. When I cinched the nomination he called and said you know we're going to have an important and meaningful discussion about the future of the country. Isn't it time to do that? Instead of engage in these ridiculous attacks?

CRAWFORD: But I mean do you think the President owes you an apology because his campaign has suggested you are a criminal or a liar?

GOV. ROMNEY: Absolutely. My goodness. What kind of a president would have a campaign that says something like that about the nominee of another party? This is reckless and absurd on his part and it's something which is beneath his dignity. I hope he recognizes that. Even fellow Democrats have said that. This, look, the president needs to talk about the direction he'd take the country and stop these kinds of ads and attacks that are so, disparate from what the American people want to talk about.

CRAWFORD: But you'd like for him to apologize?

GOV. ROMNEY: Jan, I've told you all I've got to say about that. I think that the president has demeaned the leadership which he should be bringing to this country.

CRAWFORD: Well let me ask you this then, because obviously this is something that we've been hearing a lot about from the, the Obama campaign, the Obama campaign officials and even the President himself suggesting that your time at Bain perhaps, you're going to be painted with the same brush as a lot of people on Wall Street and you know the American people don't hold some of those people in high regard on Wall Street. Are you worried people will think you're hiding something, are you worried about kind of this perceived lack of transparency?

GOV. ROMNEY: Well you know the lack of transparency that I think we saw from the White House in the last couple of weeks has really been quite disturbing, where the president exercised executive privilege to say that documents associated with the Fast and Furious program are not going to be provided to Congress. Talk about a lack of transparency. And then of course there was this promise during the campaign that matters related to health care would be discussed in the open and would be seen on CNN and on cables. That didn't happen. The President has not shown the kind of transparency in leading the country that is necessary. With regards to my own transparency, I've disclosed all the information required by law. Also provided income tax returns which are not required by law and if anyone wants to know what I did in 1999, they can just look at the papers in Salt Lake City and they can see I was running the Olympic games. I think people know that. And so these kinds of attacks are just not only ridiculous, but so far beneath the dignity of the president's responsibility and leadership that I think people have to shake their head and wonder why won't this man focus on getting Americans to work and getting incomes rising in America again?

CRAWFORD: Governor you mentioned the tax returns. You've released one year of your tax returns. A lot of people are saying you should release more, you've got to go back to the early 1980s for a Republican - or a presidential candidate who has only released one year of tax returns. Are you going to be releasing more tax returns?

GOV. ROMNEY: Yes, I'll be releasing this year's tax returns as soon as they're available. And uh - But I know, by the way, you can never satisfy the opposition research team of the Obama organization. They'll always want more. And the answer is they'll have this year's and last year's and that's the information that, by the way, is not required by law. It's the same type of information that was provided by Senator McCain and his campaign. It gives people a full review of my income and my expenses and that kind of matter. I'll tell ya, it's quite a process running for president. You obviously provide all the information you can about yourself and then you have all the opposition team say some pretty outrageous things which I think are very, very disappointing on their part.

CRAWFORD: Let me ask you one final question Governor about the Olympics, which you know well. Obviously have a lot of people have been very upset this week to learn that our uniforms were manufactured in China and now an American company has come forward to say that they will make them here before the Olympics, do you think the Olympics committee should take them up on that?

GOV. ROMNEY: You know, I don't know the particulars or the circumstance, so I really can't comment on that. I presume they have sponsors that are associated with uniforms, and matters of that nature, so I'm not going to weigh into the decisions made in that regard.

CRAWFORD: Do you think the uniforms should have been made from the outset in America? Should that have been a priority or does it trouble you that our uniforms, for our US Olympic team were made in China?

GOV. ROMNEY: I think I really responded to that already, I don't have any further comment that what I've already said.


TOPICS: Front Page News
KEYWORDS: bain; benedictromney; elections; interview; iwontvoteforromney; obama; romney; romneyantiteaparty; romneyrecord; romneytranscript; romneytruthfile; transcript; verminromney
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1 posted on 07/13/2012 4:18:14 PM PDT by xzins
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To: xzins

The entire interview was nothing but the reporter desperately casting about for a “gotcha” moment. Pathetic. Not one question pertained to anything Romney would do if elected president. Not one.


2 posted on 07/13/2012 4:22:58 PM PDT by SamAdams76
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To: All


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3 posted on 07/13/2012 4:24:18 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: SamAdams76

NBC took the same tack.
However, the question of the day seems to be Bain.


4 posted on 07/13/2012 4:24:53 PM PDT by Eric in the Ozarks
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To: SamAdams76

Mr. ROmneyCARE was on the defensive because of his dishonesty.

He did not exactly “LEAVE”
if he still owned 100% and was paid 100k$/yr.

This is like RomneyCARE and DEATH PANELS, Mitt ROmney’s
“greatest” (dubious) achievements.
Myth wants it both ways. In the end, he is just dishonest.


5 posted on 07/13/2012 4:26:16 PM PDT by Diogenesis ("Freedom is never more than one generation away from extinction. " Pres. Ronald Reagan)
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To: xzins
Communists are sure desperate and trying hard. To many Americans they are losing creditability fast.
6 posted on 07/13/2012 4:31:02 PM PDT by Logical me
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To: xzins

Here’s how the interview should have gone:

JAN CRAWFORD: Governor Romney, the Obama campaign is saying that you either committed a felony by lying to the SEC or you are lying to the American people about when you left Bain capital. What do you say to that?

GOV MITT ROMNEY: It’s all BS. Now lets talk about the President’s jobs record.


7 posted on 07/13/2012 4:31:06 PM PDT by Palmetto Patriot (How much better off would we be if these bastards would just leave us alone?)
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To: xzins

Don’t defend.

Attack, attack attack.

Again and again and again.


8 posted on 07/13/2012 4:31:35 PM PDT by ReaganÜberAlles
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To: Diogenesis

You’ve become tiresome.


9 posted on 07/13/2012 4:32:32 PM PDT by SnuffaBolshevik (In a tornado, even turkeys can fly.)
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To: xzins

Attacking success has been Obama’s signature.

There is no greater national security issue than regime change.

Enemies within have been allowed to run the show for too long.


10 posted on 07/13/2012 4:34:45 PM PDT by datura (Democrat = Socialist, Progressive Democrat = Communist)
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To: Diogenesis

FUBO!!!


11 posted on 07/13/2012 4:35:32 PM PDT by unkus
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To: musicman

12 posted on 07/13/2012 4:36:39 PM PDT by RedMDer (https://support.woundedwarriorproject.org/default.aspx?tsid=93destr)
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To: SamAdams76

That’s ok as far as I’m concerned. CBS gave him a great opportunity to set all the lies straight. He needed to be able to address them without appearing to be defensive. Both Romney and CBS (yikes) did a great job.


13 posted on 07/13/2012 4:37:06 PM PDT by Mare (Hey Barack America is Baroke!)
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To: Diogenesis

Really? Still? Do you think anything is being accomplished other than you becoming quite the bother?

Just damn. Where’s the Not this *stuff* again pic?


14 posted on 07/13/2012 4:37:23 PM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: xzins

bobama is doing to romney EXACTLY what romney did to Gingrich. I have no sympathy...karma being what karma is.


15 posted on 07/13/2012 4:37:23 PM PDT by MestaMachine (obama kills)
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To: Diogenesis

Yes, stockholders generally take a share of profits.


16 posted on 07/13/2012 4:39:15 PM PDT by No Socialist
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To: SnuffaBolshevik; Diogenesis

Dio, I don’t know what your current situation is, but I’m 26 and it’s really tough to get a job these days. I plan on voting for Romney because I have to, not because I want to. Right now, my future is more important than my conscience.


17 posted on 07/13/2012 4:40:56 PM PDT by wastedyears ("God? I didn't know he was signed onto the system.")
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To: Diogenesis

So when did you stop beating your wife?


18 posted on 07/13/2012 4:42:37 PM PDT by SamAdams76
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To: xzins

“WaPo: Three Pinocchios for Romney-is-a-felon attack”

http://hotair.com/archives/2012/07/13/wapo-three-pinocchios-for-romney-is-a-felon-attack/

“CNN: Two “active” Obama supporters at Bain confirm Romney left in 1999” (video)

“CNN reported last night that the accusations from Team Obama of felonious conduct are sheer nonsense and lies — and got that message from four executives at Bain, two of whom are “active” supporters of Barack Obama. John King spoke to all four, three of whom are Democrats, and all four said that Mitt Romney left Bain in a big hurry in 1999 in order to work full time on rescuing the Salt Lake City Olympics. The rushed departure created a lot of paperwork headaches as Bain tried to unwind Romney from leadership, which required a significant amount of time. That’s why the company had Romney’s name on their SEC paperwork the next two years, as King reports:”

http://hotair.com/archives/2012/07/13/cnn-two-active-obama-supporters-at-bain-confirm-romney-left-in-1999/


19 posted on 07/13/2012 4:43:07 PM PDT by chessplayer
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To: Principled

20 posted on 07/13/2012 4:43:43 PM PDT by EEGator
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To: xzins

If Team Obama had to put up with a tenth of what the run-of-the-mill Republican candidate has to, much less someone like Governor Palin or Dubya, they’d wet their collective pants and run away with their tails between their legs. I’d love to see it, just once, for the comedy value alone.


21 posted on 07/13/2012 4:44:38 PM PDT by 2ndDivisionVet (In honor of my late father, GunnerySgt/Commo Chief, USMC 1943-65)
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To: Diogenesis

Geez, give it a break, Obama-fan!


22 posted on 07/13/2012 4:45:52 PM PDT by 2ndDivisionVet (In honor of my late father, GunnerySgt/Commo Chief, USMC 1943-65)
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To: Principled

I posted the pic, but it disappeared.


23 posted on 07/13/2012 4:46:29 PM PDT by EEGator
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To: Diogenesis

Hey, what’s wrong with you? You gotta get behind Romney, he’s our guy!

Romney may be a lying weasel, but he’s our lying weasel! Go Mitt!


24 posted on 07/13/2012 4:48:45 PM PDT by Third Person ( Actions reflect priorities.)
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To: 2ndDivisionVet


"(The GroundZero Mosque) cleared its final hurdle ….
developers plan to build the $100 million center which will include a mosque.
Since its incipient stages in July 2009, when a Muslim-run real-estate development
company purchased the damaged, vacant building and land where the new center
will be built, the project has sparked controversy and debate.
.... the tattered building that was bought by the Muslim real estate company had
been owned by a subsidiary of Bain Capital, a company Romney founded in 1984.

So it's OK if his company can profit off the sale of the land ."


"Bain Capital, has cut checks totaling $90,000 to Romney's operation. "


Ground Zero mosque developers apply for federal grant
The developers behind the proposed Ground Zero mosque have applied
for about $5 million in federal grant money set aside for redeveloping
downtown Manhattan after the Sept. 11, 2001, terrorist attacks....
run by the Lower Manhattan Redevelopment Corp.
LMDC Board of Directors
John C. Whitehead, Founding Chairman"


John C. Whitehead AKA John Cunningham Whitehead
Romney for President "

> for about $5 million in federal grant money set aside for redeveloping

25 posted on 07/13/2012 4:49:58 PM PDT by Diogenesis ("Freedom is never more than one generation away from extinction. " Pres. Ronald Reagan)
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To: xzins
Looks like the media is going with the Bain distraction after all, even after it was shown to be a false charge.

Romney had better remember how Gingrich dealt with this shit. Do NOT play the media pigs' game - use every Bain question as an opportunity to explain to America the old ploy they are using here to take focus off the real issue - the complete failure of Obama as president.

26 posted on 07/13/2012 4:50:15 PM PDT by skeeter
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To: Diogenesis

What is your goal here?


27 posted on 07/13/2012 4:52:17 PM PDT by skeeter
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To: Third Person

If you can’t lick the cabal of lying weasels, join ‘em?

It truly takes a Barack Obama to make Mitt look like a tolerable candidate.

But Barack does succeed in that.

I just looked at one of these silly “send Barack Obama a birthday card” ads from the Obama/Biden campaign. No Joe in sight. Only Moochelle and, you got to admit, Barack looks more handsome than Moochelle looks beautiful. Almost feel sorry for the guy.


28 posted on 07/13/2012 4:53:00 PM PDT by raccoonnookkeeper (I keep raccoons in a nook.)
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To: skeeter

Why, to get anyone here to execrate Mitt enough to cast a protest vote in Nov. (as hounding the GOP to nominate someone like Sarah Palin instead probably won’t work).


29 posted on 07/13/2012 4:54:19 PM PDT by raccoonnookkeeper (I keep raccoons in a nook.)
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To: skeeter
Now is the time for all Americans to come to the aid of their country.


30 posted on 07/13/2012 4:55:07 PM PDT by Diogenesis ("Freedom is never more than one generation away from extinction. " Pres. Ronald Reagan)
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To: SamAdams76
Sorry, the reporter did do the 'gotcha' and Romney said "but I still retained an ownership interest"

So, there you have it ~ right out of Mitt's own mouth ~ the very answer the reporter had no idea what to do with.

On the other hand the Right to Life movement has people who DO KNOW what to do with it, and they will.

What we have is Mitt taking a calculated risk that it's better leaving the MSM panting than it is to attempt to any further try to fool the RTL folks.

Did you catch the slip where he said "for the management or ownership - management, rather, of Bain Capital" ~ very important ~ all his denials have been along the lines of "I did not have management relations with that corporation" ~ which is true, but he's never admitted having an "ownership interest" before ~ kind of slipped around that issue in fact.

I'm sure this is all satisfactory for the Democrat rank and file who will now turn around and vote for Romney as they replace the RTL movement, and principled Conservatives who, if they weren't before should now be sufficiently educated in Romney-ism to know they have no seat at this guy's table ~ NOT EVER. He's no longer even pretending to respect the Republican party base.

31 posted on 07/13/2012 4:58:17 PM PDT by muawiyah
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To: raccoonnookkeeper
It looks like Willard is the only available means to kick the kenyan kommie out and its madness to spend so much energy here kicking at his campaign and barking at the moon.

But I guess it takes all kinds.

32 posted on 07/13/2012 5:02:09 PM PDT by skeeter
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To: skeeter

Looks like the media is going with the Bain distraction after all, even after it was shown to be a false charge.


And they will keep it up all the way till November. Takes the focus off the economy.


33 posted on 07/13/2012 5:02:30 PM PDT by chessplayer
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To: EEGator
Is this helpful?

(A little Spanish lingo there.)

34 posted on 07/13/2012 5:04:19 PM PDT by Palmetto Patriot (How much better off would we be if these bastards would just leave us alone?)
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To: chessplayer
".......for the management or ownership - management, rather, of Bain Capital........" That's Romney's own words on the matter ~ he was STILL THE OWNER ~ he even said he had an "ownership interest".

Read closely about where he said he could have, but didn't, make decisions.

As an OWNER he is still guilty of the moral, if not financial, positions inherent in the investments.

Your boy is guilty ~ but not of a felony ~ that's a totally phony issue. If you want to be President you've got to have clean hands.

35 posted on 07/13/2012 5:04:28 PM PDT by muawiyah
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To: Diogenesis
Alternatives?

Cmon - lets hear the end game.

36 posted on 07/13/2012 5:04:28 PM PDT by skeeter
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To: RedMDer

( I've been "visiting" a little)

37 posted on 07/13/2012 5:06:15 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: skeeter

Fair enough. Mr. RomneyCARE should pull out NOW
and save America.


38 posted on 07/13/2012 5:06:37 PM PDT by Diogenesis ("Freedom is never more than one generation away from extinction. " Pres. Ronald Reagan)
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To: skeeter; Diogenesis
Cmon - lets hear the end game.

I know, I know...omaba 2012!!

39 posted on 07/13/2012 5:08:19 PM PDT by Las Vegas Ron (Medicine is the keystone in the arch of socialism)
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To: EEGator

alas... worth a try ...thanks


40 posted on 07/13/2012 5:08:47 PM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: Palmetto Patriot

“GOV MITT ROMNEY: It’s all BS. Now lets talk about the President’s jobs record.”

I would have enjoyed that!

Romney did a good job in the interview regarding Bain. No matter how many times he told the libtard she just couldn’t move on.


41 posted on 07/13/2012 5:12:29 PM PDT by 1035rep
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To: Diogenesis

Thats not plausible. Got anything else?


42 posted on 07/13/2012 5:12:33 PM PDT by skeeter
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To: SnuffaBolshevik
You’ve become tiresome.

Somebody should create a thread containing just his posts. I'll bet there are over a thousand of them...all of about the same timbre.

43 posted on 07/13/2012 5:13:31 PM PDT by ROCKLOBSTER (Celebrate Republicans Freed the Slaves Month.)
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To: 2ndDivisionVet

I agree. They could never handle that kind of heat.


44 posted on 07/13/2012 5:16:28 PM PDT by 1035rep
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To: ROCKLOBSTER
"Somebody should create a thread containing just his posts."

Some infer it's a she.

Seems to be a fifth columnist from the Obama campaign allowed to stay on here for reasons unknown.

November 6th will tell the tale.

45 posted on 07/13/2012 5:22:23 PM PDT by SnuffaBolshevik (In a tornado, even turkeys can fly.)
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To: xzins

Who the Terrible. If they spent 1/10th the effort scrutinizing 0bama, he’d never be in office. Flyspecking ROmney isn’t going to work.


46 posted on 07/13/2012 5:24:45 PM PDT by SueRae (See it? Hell, I can TASTE November from my house!)
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To: Diogenesis; SnuffaBolshevik
You’ve become tiresome.

Amen. You've gone beyond tiresome. How 'bout posting that pic of Myth as a car salesman? I haven't seen that in several hours. Wait! That's right. Never mind. I blocked it with AdBlock+.

47 posted on 07/13/2012 5:26:55 PM PDT by upchuck ("Definition of 'racist:' someone that is winning an argument with a liberal." ~ Peter Brimelow)
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To: Palmetto Patriot

Gracias mi amigo.


48 posted on 07/13/2012 5:31:32 PM PDT by EEGator
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To: Principled

“Really? Still? Do you think anything is being accomplished other than you becoming quite the bother?

Just damn. Where’s the Not this *stuff* again pic?”


Mittens is a known opportunist and liar. Just because he has an (R) by his name doesn’t mean he should be defended automatically. That’s what serfs do. You just don’t like being reminded that Mittens and the GOPe thinks of you as a serf, and you behave as one.

Let’s not sell our souls to these cretins just for a false sense of political benefits. We lost this election when Mittens won the nomination. This is a fight between different inbred, royal families.


49 posted on 07/13/2012 5:31:58 PM PDT by RaisingCain
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To: Diogenesis

Good God you’re boring...find a new schtick or are you a paid hack?


50 posted on 07/13/2012 5:32:38 PM PDT by MissouriConservative (Voting Anyone but Obama in 2012.)
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