08/31/2012; Mike Hall
Looking for little reading over the long Labor Day weekend? Then check out online or pick up the latest copy of Rolling Stone with Matt Taibbi’s cover story on Mitt Romney’s days at Bain Capital. Taibbi writes:
Mitt Romney, it turns out, is the perfect frontman for Wall Street’s greed revolution….He’s Gordon Gekko, but a new and improved version, with better PR—and a bigger goal. A takeover artist all his life, Romney is now trying to take over America itself. And if his own history is any guide, we’ll all end up paying for the acquisition.It’s fascinating and frightening read.
Government documents prove the candidate’s mythology is just that
by: Tim Dickinson
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”