HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Romney's Bain advisers ai...

Wed Oct 10, 2012, 04:12 PM

Romney's Bain advisers aided China, Russia growth

Source: AP via Boston Globe

WASHINGTON (AP) — As Bain & Co. head in the early 1990s, Mitt Romney presided over the corporate strategy firm’s expanding operations into China and Russia, helping their initial attempts to move into the world’s free market system.

-snip-

In 1993, under Romney’s oversight, Bain branched out in Beijing, where the firm’s consultants held a series of management seminars for Chinese government trade officials, according to documents, interviews and media accounts. At the same time, Bain consultants were advising Russian officials and conducting seminars to aid the post-Soviet business privatization campaign, according to State Department files.

Bain joined a 1990s gold rush of U.S. consulting companies that tutored emerging post-Communist nations in Western management structure and strategy. Former U.S. diplomats and experts in the Chinese and Russian economic systems say Bain’s involvement came at a critical point when both governments sought Western intervention to absorb fundamentals of capitalism.

-snip-

Romney campaign spokeswoman Michele Davis would not respond to detailed questions about Romney’s oversight of Bain & Co.’s consulting work. She disputed the timing of his departure, saying it came in 1992 rather than a year later. Davis said Romney concentrated on working ‘‘intensely to turn around the firm.’’ She added that ‘‘no individual businessman can level the playing field with China.’’

-snip-

Read more: http://www.boston.com/news/politics/2012/president/candidates/romney/2012/10/10/romney-bain-advisers-aided-china-russia-growth/XJKteWR36AsApxoz3e3o5J/story.html



The AP article notes that the Romney campaign didn't provide any documents to back up their claim that Romney left in 1992.

The AP found documents and news stories from the period showing that "Romney held a top role at Bain & Co. through late 1993."

4 replies, 1801 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 4 replies Author Time Post
Reply Romney's Bain advisers aided China, Russia growth (Original post)
highplainsdem Oct 2012 OP
jsr Oct 2012 #1
hrmjustin Oct 2012 #2
Petrushka Oct 2012 #3
highplainsdem Oct 2012 #4

Response to highplainsdem (Original post)

Wed Oct 10, 2012, 04:13 PM

1. Shocking indeed

Reply to this post

Back to top Alert abuse Link here Permalink


Response to highplainsdem (Original post)

Wed Oct 10, 2012, 04:13 PM

2. Obama war room do you hear this?

Reply to this post

Back to top Alert abuse Link here Permalink



Response to highplainsdem (Original post)

Wed Oct 10, 2012, 05:31 PM

4. Ben LaBolt tweeted about this story an hour ago, linking to a related BuzzFeed article:

The tweet:

https://twitter.com/BenLaBolt/status/256127079173722112

Romney camp once again can't get their story straight on Bain, which was supposed to be premise of his candidacy http://bit.ly/QdKawx


That links to a story at BuzzFeed Politics, "Romney Campaign Timing Claim Contradicts Story Written By Romney Aide":

http://www.buzzfeed.com/zekejmiller/romney-campaign-timing-claim-contradicts-story-wri

Aides to Mitt Romney told the Associated Press this week that the Republican presidential candidate left Bain & Co. in 1992 and was therefore not responsible for efforts to aid economic growth in China and Russia.

But that statement contradicts by a contemporaneous account by none other than Romney senior adviser Eric Fehrnstrom, who worked as a a Boston Herald reporter before joining the Romney camp. The article was dug up by the pro-Obama group American Bridge.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread