Government documents prove the candidate’s mythology is just that
Tim Dickinson | August 29
Rolling Stone – 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….
Unfortunately, this article will not get any main stream exposure. It’s all about the Electoral College. My vote in a Red State doesn’t have any impact at all.
It’s the sort of thing that the Obama team might start hammering.
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-Geoduck
Lots of big smiles tonight, but not much dealing with reality. Truth won’t be an important part of this campaign.
I predict the bailout info will get more exposure than the ethics violation did, although I believe they are connected in principle.
Serious Romney Ethics Violation Exposed: Conflict Of Interest In State Contract To Bain-Backed Firm:
http://agonist.org/steve_hynd/20120817/serious_romney_ethics_violation_exposed_conflict_of_interest_in_state_contract_to_bain_backed_firm
In discussion with a rabid Republican friend after he read the Rolling Stone article, the comment was, “this was just good business. What’s the problem.”
What am I missing here?
that what this NRO editor explains, lots of them really believe:
NRO Editor’s faux-Darwinist rant – satire, or not?
http://agonist.org/steve_hynd/20120822/nro_editors_faux_darwinist_rant_satire_or_not
…which is what confounds me. In their minds, Romney was right in all he did, including getting stimulus money and lying. Those conservatives who read the RS article see no problem.
The people I refer to are some I’ve known for years and normally have strong morals.
The original post, IMO, offered clarity.
the writer of that too was actually serious, as were the commenters at NRO praising him for telling the truth. He used a few humorous snarks, but overall he meant what he said… that “women” (translate as really himself and other right wing men) dig sociopathic selfish rich “power” males. Although, there is a body of literature that says that women are attracted to sociopathic men in general because they act “charming” etc… (before they ruin your life)
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