Posted on 01/20/2012 5:02:47 PM PST by Starman417
Get familiar with the names BCIP Associates III Cayman and Sankaty High Yield Asset Investors Ltd. If Romney is the Republican nominee they will become a household names. Why? Let me explain.
BCIP Associates III Cayman and Sankaty High Yield Asset Investors Ltd are basically nothing more then P.O. boxes in Bermuda and the Grand Cayman Island. The number of words in the names of these companies is greater then the total sum of employees on the payroll. No secretaries, no janitors, no interns. Just a few lawyers working out of their own offices with a plaque on the wall. In essence these are companies in name only. They are what is more commonly known as off shore accounts. They can and are directly linked to Romney. You know, the same Mitt Romney who is trying to convince everyone he is Mr. Everyman. Starting ring a few bells? Maybe its because we've been down this road before and the only thing that has changed for the Obama campaign and the media is the publish dates of the articles written before and will be again. The facts have not changed . The accusations remain the same.
Did Mitt Romney do something illegal? No.
Did Bain Capital do something illegal? Again, no.
So why does any of this matter?
The reason these BCIP Associates III Cayman and Sankaty High Yield Asset Investors Ltd matter is because these companies are going to be used to thump Romney over the head with by the Obama campaign whenever the word “taxes” is uttered.
A Los Angeles Times article from 2007 explains it much better than I can.
“In the Cayman Islands, Romney was listed as a general partner and personally invested in BCIP Associates III Cayman, a private equity fund that is registered at a post office box on Grand Cayman Island and that indirectly buys equity in U.S. companies. The arrangement shields foreign investors from U.S. taxes they would pay for investing in U.S. companies”
And from the same article:
(Excerpt) Read more at floppingaces.net...
BCIP Associates III Cayman and Sankaty High Yield Asset Investors Ltd are basically nothing more then P.O. boxes in Bermuda and the Grand Cayman Island. The number of words in the names of these companies is greater then the total sum of employees on the payroll. No secretaries, no janitors, no interns. Just a few lawyers working out of their own offices with a plaque on the wall. In essence these are companies in name only.
You’re quite welcome SunkenCiv
See ya, Mitt.
I used to do business at Guiness Mahon there for currency trading and ship bunkering for the Texaco dock in Kingston JA...which sold untaxed ship’s fuel through their Myers-Ashenheim office in Georgetown CI so they could escape Jamaica’s whimsy currency exposure....nothing illegal about that for me as a US citizen...as I understand Bain allowed foreign investors to invest through a CI account so they could avoid US taxes in Bain ventures
that is not illegal
but I do confess to not being an LBO fan much...which is another matter
I have no problem with a private citizen doing whatever he can to legally avoid taxes. I do have a problem with a socialist running for the Republican nom and the GOP elite backing him because “it’s his turn.”
I also have absolutely no problem with people who want to do everything possible to pay the least amount of taxes they can.
It also has no bearing on whether I like Mitt Romney politically.
I also have absolutely no problem with people who want to do everything possible to pay the least amount of taxes they can.
It also has no bearing on whether I like Mitt Romney politically.
“but I do confess to not being an LBO fan much...which is another matter”
Me, either! I don’t like hostile takeover attempts, either.
I doubt that Mitt has done anything illegal.
He’s the whitest guy on the planet, so some would tell us.
From my own personal experience, the saying, “you can trust your money with a Mormon” has no meaning whatsoever except to identify those who are naive.
I’m sorry if that sounds to be a religionist...it’s not meant to sound that way.
It’s from my own personal experience.
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