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Old 08-30-2012, 06:56 PM   #1
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Default The Federal Bailout That Saved Mitt Romney

The Federal Bailout That Saved Mitt Romney | Politics News | Rolling Stone

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.

...


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.
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Old 08-30-2012, 09:09 PM   #2
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Default Re: The Federal Bailout That Saved Mitt Romney

Close to 25,000,00 million people are unemployed what does RS have to say about that?
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Old 08-30-2012, 10:03 PM   #3
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Default Re: The Federal Bailout That Saved Mitt Romney

Ah, the "moderator" yet again hijacking...
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Old 08-31-2012, 03:55 AM   #4
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Default Re: The Federal Bailout That Saved Mitt Romney

Maybe it is that factchecker stuff all over again, do not stick with the facts.

The Rolling Stone Article may prove interesting.. maybe he didn't "build" that.
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Old 08-31-2012, 06:28 AM   #5
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Default Re: The Federal Bailout That Saved Mitt Romney

Quote:
Originally Posted by chicowalker View Post
Ah, the "moderator" yet again hijacking...
Hey, Patters just tried to hijack my thread on public worker pensions. Doesn't everyone here hijack?
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