The Federal Bailout That Saved Mitt Romney

 Rolling Stone

The Federal Bailout That Saved Mitt Romney

Government documents prove the candidate’s mythology is just that

by: Tim Dickinson

Mitt Romney
JEWEL SAMAD/AFP/GettyImages

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.” Continue reading “The Federal Bailout That Saved Mitt Romney”

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