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July 13, 2012


Can You Really be CEO with No Responsibilities?

Glenn Kessler defends Mitt Romney's assertion that he left the helm of Bain Capital in 1999 by arguing the language saying he was "sole stockholder, chairman of the board, chief executive officer, and president" was boilerplate... there is no standard definition of a "chief executive"... no requirement for anyone to have any responsibilities even if they have that title."

Brad DeLong: "It would be very unusual for somebody to have the titles... and to have no responsibilities whatsoever. In fact, I defy Glenn Kessler to come up with any example of anybody anywhere- -- save for Mitt Romney -- who has been characterized to the SEC as 'sole stockholder, chairman of the board, chief executive officer, and president' and also claimed to have no responsibilities whatsoever and to have merely been a passive investor."

Meanwhile, BuzzFeed has a SEC filing that might be the hardest for Romney to explain.












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