The Federal Bailout That Saved Mitt Romney

Romney purports to have leadership skills for the presidency based on his business expertise. *Pfft*

Government documents prove the candidate's mythology is just that

...federal bailout of Bain & Company ... made so much of his outsize wealth possible.

... 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. [emphasis mine]

Tags: Bain bailout, Romney lies

Views: 35

Replies to This Discussion

It's always the same old story with the robber barons like Romney "socialize the losses privatize the profits"

Obama needs to keep hammering at Bain & Co to let taxpayers know Romneys wealth came out of their pockets.

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