The battle between President Obama and Mitt Romney reached new levels of rancor Thursday, with each campaign accusing the other of lying over Romney’s tenure at private-equity firm Bain Capital.

The charges flew at a rapid pace, and by the end of the day the Romney campaign was calling for an apology after a senior Obama campaign official said the Republican presidential candidate may have committed a felony.

Obama official Stephanie Cutter made the claim following a Boston Globe article that said documents show Romney was in charge at Bain for three years longer than he had claimed. Cutter said Romney was either misrepresenting his position at Bain to the Securities and Exchange Commission, “which is a felony,” or misrepresenting to the American people.

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