Boston (CNN) – Senior advisers to Mitt Romney's campaign are calling the latest round of Bain attacks from Team Obama "an act of desperation" and "beyond the pale."
"Either they don't understand what they are talking about or they are completely reckless," a senior Romney adviser tells CNN.
Romney's advisers are referring to Thursday's political back-and-forth ignited by a new Boston Globe story maintaining Romney had an active role in overseeing the private equity firm Bain Capital until 2002. The report points to official documents bearing his name as CEO were filed at the time.
The Romney campaign calls the idea "ridiculous," saying the documents were filed with his name because he left abruptly to run the Olympics in February 1999.
Romney has been the target of a relentless multi-million dollar assault by Team Obama over the last several weeks regarding Bain Capital and allegations some of the companies in which it invested outsourced jobs overseas - a contention that the Romney campaign disputes completely. In fact, the campaign earlier Thursday released a full-blown rebuttal of the Obama charges in the form of a television ad, using the criticisms of Obama's campaign staff leveled by newspapers and fact-checking organizations.
Some Republicans charge the Romney team waited too long. "We'd rather be bullet proof and get it right," says a senior Romney adviser. "Obama will have a hard time justifying his charges."
While the Obama campaign clearly sees even more of an opening on the Bain Capital attack front, one senior Romney adviser says the Bain attacks won't get them off its game - relentlessly focusing on the economy. "It is designed to make us change our strategy and it won't."
The Romney campaign calls the Bain attacks "demonstrably false." In fact, one adviser says that for the Obama campaign to suggest that the Bain company filings with the Securities and Exchange Commission could be a felony is "beyond the pale." In the end, this adviser predicts, "voters will have a sense of where the boundaries are."
So far, each campaign seems to be testing that premise - Romney has an ad effectively calling the president's team liars, and the Obama campaign has accused Romney's former company of possibly committing a felony.
And it's only July.
– CNN's Kevin Bohn contributed to this story.