Romney Benefited From a $10 Million Federal Bailout?

Politico ^ | 7/14/11 | Alexander Burns

[wrrock]

It wasn't really a TARP style bailout -- worse -- Romney's Bain placed a $10 million dollar liability with the taxpayers. All this while he benefited $4 million dollars directly.

“The way the company was rescued was with a federal bailout of $10 million,” the ad says. “The rest of us had to absorb the loss … Romney? He and others made $4 million in this deal. … Mitt Romney: Maybe he’s just against government when it helps working men and women.”

The facts of the Bain & Co. turnaround are a little more complicated, but a Boston Globe report from 1994 confirms that Bain saw several million dollars in loans forgiven by the FDIC...

Read more: http://www.politico.com/news/stories/0711/58952.html#ixzz1hqSHP532

[DManA]

Bogus. The FDIC was doing what it was designed to do.

[Doc Savage]

So it begins. Obummer is sure Mittens is in so he’s given Politico the ok for hit jobs. Here it comes baby!

[Sudetenland]

Anyone who believes that the Democrats won't absolutely kill Romney on the Bain Capital/job lay-offs business is smoking Ron Paul dust.

If you read the article, they say they decided not to bother running this ad because they had already destroyed Romney on the jobs issue with interviews of those who had been laid off.

Romney cannot defeat Obama in a general election. He is too closely tied to Obamacare and has too horrible a record on destroying companies. It won't matter if the stories aren't precisely accurate, they will be amplified by the press and believed by voters.

We've proven over and over again, you can't beat a Democrat with Democrat-lite candidates.

[dogcaller]

And if the Bain hits don’t do it the Mormon hits will.

[Theodore R.]

Stop the distractions. It’s still “his turn”, as out little Republican primary voters, many uninformed, will indicate.

[dogcaller]

And if the Bain hits don’t do it the Mormon hits will.

[NativeNewYorker]

Yes, FDIC was just doing its job. BUT there is no way that technical point will stand up against a 24/7 propaganda barrage.

Mitt is the perfect opponent for a party geared to wage a class warfare campaign.

[TheBattman]

The FDIC is set up to guarantee a profit to some, while shouldering the cost on taxpayers? Really?

[DManA]

Yup. That’s the theory of operation for the Federal Government. What is bogus is criticizing a private citizen for playing by the rules as they are written.

I criticize him for not trying to change the rules as a public citizen and office holder.

[Matchett-PI]

I saw Ed Gillespie (I think it was) on FNC a week or so ago when he said, “I’ve seen the opposition research on Romney and it’s this high”, as he lifted his hand high over his head.

[CaptainK]

I hope Mittens knows how to play dirty. McCain played it like a dumb gentleman fighting team guttersnipe. Look where it got him

[P-Marlowe]

Bogus. The FDIC was doing what it was designed to do.

I can find nothing in the FDIC Charter which allows them to "forgive loans". Indeed I see nothing in the charter which allows the FDIC to loan money. They are there to pay the depositors of insured institutions for their insured deposits. At the time of this transaction the insurance limit was $100,000 per account. How did Bain manage to get $10,000,000 from the FDIC if the FDIC was just "doing what it was designed to do"?

[Timaeus]

I hope Mittens knows how to play dirty.

Willard always fights dirty against conservatives. It's no enemy to the left for our Willard.

[Timaeus]

I hope Mittens knows how to play dirty.

Willard always fights dirty against conservatives. It's no enemy to the left for our Willard.

[wmfights]

At the time of this transaction the insurance limit was $100,000 per account. How did Bain manage to get $10,000,000 from the FDIC if the FDIC was just "doing what it was designed to do"?

This article is so lacking in detail it's hard to figure out what the heck went on. Apparently Bain Capital had an ownership interest in a bank that failed. I have no idea how Bain got anything based on this article. I really don't want to guess what went on with this deal.

The good thing is Romney hasn't gotten the nomination yet. If he does end up with the nomination we probably end up with 4 more years of obama.

[DManA]

Incredibly the geniuses that run the republican party think Romney is the safest candidate. Their track record shows they haven’t a clue.

I don’t need to watch democrat propaganda to be hyper skeptical of Romney and his chances of success.

[wmfights]

Incredibly the geniuses that run the republican party think Romney is the safest candidate. Their track record shows they haven’t a clue.

I agree.

I was at a Christmas party and in talking with a bunch of fiscal conservatives about the election I thought their heads would explode when I said Romney and Paul are the most beatable candidates. They all thought Romney is a sure bet to beat obama. I don't see how he can win with 15-25% of the base unwilling to vote for him.

I don’t need to watch democrat propaganda to be hyper skeptical of Romney and his chances of success.

Romney strikes me as the typical corporate gadfly who says what ever the group he is in front of wants to hear. A smooth talker with no core values. I don't like the guy and will not vote for him even if it means obama wins.

[DManA]

I woiuld like to say the best way to deal with Paul is simply pretend he doesn’t exist. But I think at least some of his support comes from people using him to send a message to the elites. Don’t think you can take our support for granted. Not this year.

[wmfights]

Don’t think you can take our support for granted. Not this year.

I think the establishment Pubs are pushing back with Romney. They are stunned that there is a part of the base that won't eat that crap sandwich.