Mitt DIDN'T build that

[carlfense]

The Federal Bailout that Saved Mitt Romney: government documents prove that the candidates mythology is just that.

Mitt Romney likes to say he won't "apologize" for his success in business. But what he never says is "thank you" – to the American people – for the federal bailout of Bain & Company that made so much of his outsize wealth possible.

 

According to the candidate's mythology, Romney took leave of his duties at the private equity firm Bain Capital in 1990 and rode in on a white horse to lead a swift restructuring of Bain & Company, preventing the collapse of the consulting firm where his career began. When The Boston Globe reported on the rescue at the time of his Senate run against Ted Kennedy, campaign aides spun Romney as the wizard behind a "long-shot miracle," bragging that he had "saved bank depositors all over the country $30 million when he saved Bain & Company."

 

In fact, government documents on the bailout obtained by Rolling Stone show that the legend crafted by Romney is basically a lie. The federal records, obtained under the Freedom of Information Act, reveal that Romney's initial rescue attempt at Bain & Company was actually a disaster – leaving the firm so financially strapped that it had "no value as a going concern." Even worse, the federal bailout ultimately engineered by Romney screwed the FDIC – the bank insurance system backed by taxpayers – out of at least $10 million. And in an added insult, Romney rewarded top executives at Bain with hefty bonuses at the very moment that he was demanding his handout from the feds.

http://www.rollingst...romney-20120829

 

 

 

To recap Mitt's major accomplishments:

Business: obtain massive federal bailouts at taxpayer expense while paying hefty bonuses to executives

Olympics: obtain massive federal bailouts at taxpayer expense by employing an army of lobbyists in Washington DC

Politics: enact an individual mandate healthcare system that was the model for the ACA

 

What else will be uncovered before the election?

[strigori]

Oh the irony. All of Mitt's biggest accomplishments are all funded by the tax payers.

 

After reading that article, I can't see how anyone could consider him to be an ethical person. Its a perfect example of a greedy businessman doing what makes him the most money instead of doing what is right and ethical.

[carlfense]

Oh the irony. All of Mitt's biggest accomplishments are all funded by the tax payers.

 

After reading that article, I can't see how anyone could consider him to be an ethical person. Its a perfect example of a greedy businessman doing what makes him the most money instead of doing what is right and ethical.

I think it's beyond the point of irony and well into the territory of breathtaking hypocrisy.

[strigori]

Oh the irony. All of Mitt's biggest accomplishments are all funded by the tax payers.

 

After reading that article, I can't see how anyone could consider him to be an ethical person. Its a perfect example of a greedy businessman doing what makes him the most money instead of doing what is right and ethical.

I think it's beyond the point of irony and well into the territory of breathtaking hypocrisy.

He was a corporate exec. I expect nothing less.

[holvy83]

Oh the irony. All of Mitt's biggest accomplishments are all funded by the tax payers.

 

After reading that article, I can't see how anyone could consider him to be an ethical person. Its a perfect example of a greedy businessman doing what makes him the most money instead of doing what is right and ethical.

I think it's beyond the point of irony and well into the territory of breathtaking hypocrisy.

He was a corporate exec. I expect nothing less.

 

It is human nature to protect your own, and the 1% is no exception.