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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRomney "Sick at Heart" Over Bain Job Losses
Back in 2007, Republican White House hopeful Mitt Romney declared that taking a big payment from a company that later failed "would make me sick, sick at heart." If so, Romney by now must be badly in need of a quadruple by-pass. Because as the New York Times became just the latest to report, through massive consulting fees, sales of stock and, most perversely, dividend payments, Romney and his partners at Bain Capital reaped whirlwind profits even when the companies they acquired collapsed.
Back in January, McClatchy offered this primer on how private equity firms like Bain Capital work, at least on paper. As candidate Romney explained at a GOP debate back in June 2007, "Don't forget that when companies earn profit, that money is supposed to be reinvested in growth."
But as the New York Times documented Friday, large sums of that money were going to Mitt Romney and his Bain colleagues whether their portfolio companies were profitable or not. Put another way, Bain won either way:
Bain structured deals so that it was difficult for the firm and its executives to ever really lose, even if practically everyone else involved with the company that Bain owned did, including its employees, creditors and even, at times, investors in Bain's funds.
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http://crooksandliars.com/jon-perr/romney-sick-at-heart-over-bain-job-losses
http://www.nytimes.com/2012/06/23/us/politics/companies-ills-did-not-harm-romneys-firm.html?_r=2&pagewanted=all
BarbaRosa
(2,684 posts)Initech
(100,079 posts)marmar
(77,081 posts)valerief
(53,235 posts)Wait Wut
(8,492 posts)...look compassionate. I'm fully expecting him to start singing "Daisy" during his concession speech.
onehandle
(51,122 posts)Enrique
(27,461 posts)here's him sick at heart over job losses
here's him longing to be in Vietnam
I longed in many respects to actually be in Vietnam and be representing our country there, and in some ways it was frustrating not to feel like I was there as part of the troops that were fighting in Vietnam.
napkinz
(17,199 posts)Demeter
(85,373 posts)Get the hook!
freshwest
(53,661 posts)spartan61
(2,091 posts)two words put together to make a new word. The two words I want to put together to make a new one for romney are bull and shit. Together they make BULLSHIT!! This compound word best describes what I think of romney's sick at heart statement.
BULLSHIT!!!
thelordofhell
(4,569 posts)Fuck you Mitt Rmoney
GoCubsGo
(32,084 posts)He's sick because failure of those companies meant less money in his pocket. And, because people are actually finding out how many lives he ruined.
MH1
(17,600 posts)SDjack
(1,448 posts)"sick at heart", but not enough to return the money.
Hatchling
(2,323 posts)He sick at heart because the ads detailing his career at Bain are immensely effective. He's sick cause he's been found out.
Sick fuck.
BeyondGeography
(39,374 posts)No-fault capitalism...it's a good thing.
The Blue Flower
(5,442 posts)This man's sickness is soul deep.
perdita9
(1,144 posts)He reminds me of that Chainsaw Al character from the 1980s.
Life Long Dem
(8,582 posts)Bain made $100 million on a $5 million investment by closing down this business. I don't think he cared what happen to the workers.