"Federal Bailouts Saved Myth Romney"

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"Federal Bailouts Saved Myth Romney"

Postby jonnygothispen » Tue Oct 16, 2012 9:58 pm

http://www.rollingstone.com/politics/ne ... y-20120829

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.

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