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Greed and Debt: The True Story of Mitt Romney and Bain Capital

xfire

New Twitter/X @cxffreeman
As if the first link wasn't enough, check out the second link

http://www.rollingstone.com/politic...tory-of-mitt-romney-and-bain-capital-20120829
http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829

romneyhat_s.jpg


How the GOP presidential candidate and his private equity firm staged an epic wealth grab, destroyed jobs – and stuck others with the bill

The great criticism of Mitt Romney, from both sides of the aisle, has always been that he doesn't stand for anything. He's a flip-flopper, they say, a lightweight, a cardboard opportunist who'll say anything to get elected.

The critics couldn't be more wrong. Mitt Romney is no tissue-paper man. He's closer to being a revolutionary, a backward-world version of Che or Trotsky, with tweezed nostrils instead of a beard, a half-Windsor instead of a leather jerkin. His legendary flip-flops aren't the lies of a bumbling opportunist – they're the confident prevarications of a man untroubled by misleading the nonbeliever in pursuit of a single, all-consuming goal. Romney has a vision, and he's trying for something big: We've just been too slow to sort out what it is, just as we've been slow to grasp the roots of the radical economic changes that have swept the country in the last generation.

The incredible untold story of the 2012 election so far is that Romney's run has been a shimmering pearl of perfect political hypocrisy, which he's somehow managed to keep hidden, even with thousands of cameras following his every move. And the drama of this rhetorical high-wire act was ratcheted up even further when Romney chose his running mate, Rep. Paul Ryan of Wisconsin – like himself, a self-righteously anal, thin-lipped, Whitest Kids U Know penny pincher who'd be honored to tell Oliver Twist there's no more soup left. By selecting Ryan, Romney, the hard-charging, chameleonic champion of a disgraced-yet-defiant Wall Street, officially succeeded in moving the battle lines in the 2012 presidential race.

Read more: http://www.rollingstone.com/politic...omney-and-bain-capital-20120829#ixzz25W4SlkgK



The Federal Bailout That Saved Mitt Romney
Government documents prove the candidate's 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.

Read more: http://www.rollingstone.com/politic...that-saved-mitt-romney-20120829#ixzz25W4ucwJC
 
What's the difference between GST Steel and Solyndra? When GST Stell went bankrupt, it was only a few people who paid for it out of their own pockets. When Solyndra went bankrupt, it was all of us who paid for it.

Venture capital is a lot like being an oncologist, you get your seriously sick patients and many of them won't survive but a many of them will. By the same token, are we going to blame an oncologist when some of his more seriously sick patients don't make it? Bring out the torches and pitchforks? But who's really paying attention? Your minds are all made up already. Meeetteens, baaaaaaaad!!
 

xfire

New Twitter/X @cxffreeman
You're right, my mind is made up, and has been since 2008. Why is that? Because republican policies are a dismal failure and have been since Reagan. The fact that Romney is a douche bag is just so much icing on the cake.
 
interesting that Bain has given a considerable amount of monetary contributions to the Obama Campaign SMH greed and debt indeed
 
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