An article in the latest edition of Rolling Stone burst another Romney bubble. It shows that, rather than being a financial wizard for getting Bain & Company through hard times in the early 1990s, he was actually more a wizard of working the system and getting big chunks of bailout money from the American people.
…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.
Is there an honest bone in this man’s body?
Update: Apparently the answer to my question is no. Mitt is simply lying about Obama’s record on wellfare reform to tickle the racism in the
typical all too common Republican voter, a racism Romney’s team has identified and is counting on.