Washington (CNN) -- So just why is 1999 suddenly such a flashpoint in Campaign 2012? 

Team Obama says 1999 is the birth year of "The Big Bain Lie" and goes on to suggest that Mitt Romney might have committed a felony. 

That provoked a rare statement from Romney campaign manager Matt Rhoades, who called on President Barack Obama to apologize for "the out of control behavior of his staff, which demeans the office that he holds." 

Pointed rhetoric aside, just what is the 1999 debate about and why is it potentially significant in the Obama versus Romney race? 

Fortune: Documents -- Romney didn't manage Bain funds 

At issue is whether Romney, the former governor of Massachusetts, is telling the truth when he says he had no role in investment and operations decisions at Bain Capital once he left in February 1999 to take over the Salt Lake City Olympic Games. 

Talking Points Memo this week questioned Romney's claim by citing Securities and Exchange Commission filings listing Romney as Bain's top officer after 1999. The Boston Globe on Thursday carried a similar account -- and that was seized upon by Team Obama. 

"Either Mitt Romney, through his own words and his own signature, was misrepresenting his position at Bain to the SEC, which is a felony, or he was misrepresenting his position at Bain to the American people to avoid responsibility for some of the consequences of his investments," Stephanie Cutter, deputy Obama campaign manager, said on a campaign conference call. 

Remember that last part of Cutter's statement -- about responsibility for "his" investments. 
and who is his campaign manager?
Stephanie Cutter, deputy Obama campaign manager,