Mitt Romney likes to say that “he can do that” or “that he can fix that” or “he fixed that in the past”. This is always in relationship to the budget deficit. Yet, it was tax payers money that saved Bain Capital not Mitt Romney. He won’t talk about that.
Rolling Stone has the complete article which can be read here.
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.