I'm sure that the author and Forbes generally are liars. /s
How about this one?
Mitt Romney company profited as steel mill it owned closed, government bailed out pension plan
Romney probably didn't do anything illegal. And no one is saying that he did. But do you want a vulture in DC? Aren't there enough of them? Isn't it time that he's vetted? The GOP elites won't. He's their man.
I think the American Spector named names. There is also an issue as covered in Forbes regarding the “carried interest.” And, IIRC because I have not reread the Forbes piece off-shore accounts. Granted nothing is illegal and I don’t think anyone has said it is.
Ah, well familiar with that one. Good capitalism story, unless you are an OWS type.
I found the info on the other “incident”. It was Dade International. Here’s the article for all you lurkers...it’s not quite like the populist baloney blurb written on this thread earlier.
http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idUSTRE8050LL20120106
Reuters reports in “Special report: Romney’s steel skeleton in the Bain closet” that Romney’s Bain Capital took a $44 million government bailout in 2002 from the federal U.S. Pension Benefit Guaranty Corp after they determined that Bain had underfunded its steel mill’s pension by $44 million. Workers were denied the severance pay and health insurance theyd been promised, and their pension benefits were cut by as much as $400 a month. Nevertheless, Bain profited on the deal, receiving $12 million on its $8 million initial investment and at least $4.5 million in consulting fees.
The New York Times reported in their article “After a Romney Deal, Profits and Then Layoffs” that Bain structured its deals so it would be hard for Romney and his partners not to come out ahead. In the case of their medical company Dade, the creditors threatened litigation against Bain, accusing them of “professional negligence” and “unjust enrichment.” Bain argued that the claims were baseless, but agreed to forgo about $68 million owed to them by Dade.
Romney has acknowledged having second thoughts about some of the deals he drove, saying his post-Bain career in government had sensitized him to the consequences of his decisions as a businessman. He may be sorry but I don’t think Obama and the Democrats will forgive and forget this year even if we do!