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kpete

(71,867 posts)
Wed Aug 29, 2012, 04:03 PM Aug 2012

YIKES! GOV DOCS Obtained By Rolling Stone Show The Legend Crafted By Romney Is Basically A LIE!

The Federal Bailout That Saved Mitt Romney
Government documents prove the candidate's mythology is just that




In fact, government documents on the bailout obtained by Rolling Stone show that the legend crafted by Romney is basically a lie. 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.

the rest:
(so much good stuff here :popcorn
http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829
33 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
YIKES! GOV DOCS Obtained By Rolling Stone Show The Legend Crafted By Romney Is Basically A LIE! (Original Post) kpete Aug 2012 OP
Rachel, Ed, Cenk and Lawrence need to see hifiguy Aug 2012 #1
WOW, this MONEY QUOTE is a beaut!!!!! MADem Aug 2012 #4
That sounds about right........It's like Kasich taking credit for the jobs the auto bailout created. PDJane Aug 2012 #2
I am guessing this news will occupy a nice little chunk of the news cycle--on and on! MADem Aug 2012 #3
kick cally Aug 2012 #5
Matt Taibbi's story is pretty good too Mutt22 Aug 2012 #6
So good. theinquisitivechad Aug 2012 #7
Let's destroy the political career of this asshole. He deserves nothing less. NRaleighLiberal Aug 2012 #8
If telling the truth will destroy it. So be it. Destruction is never a goal. Accountability can be The Wielding Truth Aug 2012 #27
I have some people I think really need to see this Sheepshank Aug 2012 #9
K&R patrice Aug 2012 #10
Well, I'm sorry kpete. This just cannot be true. Romney buys 3-packs of dress shirts at CostCo. NYC_SKP Aug 2012 #11
plus he bought food things and onethatcares Aug 2012 #12
and he even ate a hambueger wrapped in paper once, ans said that was a nice touch. sad sally Aug 2012 #20
great story - thanks for posting - for those with slow connections, adding 'print' version tomm2thumbs Aug 2012 #13
Thank you very much, I have a hard time with the other version. freshwest Aug 2012 #16
These young ladies knew it long ago GeorgeGist Aug 2012 #14
What is going on in that picture? drm604 Aug 2012 #31
Damn, if we didn't already know that. Ran the government like his own business... freshwest Aug 2012 #15
kpete, you really rock ailsagirl Aug 2012 #17
So that's why he's hiding his taxes... Blue Idaho Aug 2012 #18
Show us the tax returns Mitt. What are you hiding?? Initech Aug 2012 #19
K & R Quantess Aug 2012 #21
Screwed the FDIC... Excuse me, that is called SCREWING US. Festivito Aug 2012 #22
Perfect timing too! sellitman Aug 2012 #23
K&R This needs to go viral in time for tonight's RNC show DippyDem Aug 2012 #24
Kick & rec. (& bookmark) n / t Amonester Aug 2012 #25
Tell really big lies...... Antiromney Aug 2012 #26
they seem to have taken that advice to heart renate Aug 2012 #28
It's good to be a governor's son... JHB Aug 2012 #29
he's another George W. -- FAILED businessman! grasswire Aug 2012 #30
Romney, a one-man "welfare queen" batallion JHB Aug 2012 #32
WHAT ABOUT MITTEN'S BOOTSTRAPS? WHERE WERE YOUR BOOTSTRAPS??? pansypoo53219 Aug 2012 #33

MADem

(135,425 posts)
4. WOW, this MONEY QUOTE is a beaut!!!!!
Wed Aug 29, 2012, 04:27 PM
Aug 2012
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.

Read more: http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829#ixzz24y8ORBCE

PDJane

(10,103 posts)
2. That sounds about right........It's like Kasich taking credit for the jobs the auto bailout created.
Wed Aug 29, 2012, 04:08 PM
Aug 2012

MADem

(135,425 posts)
3. I am guessing this news will occupy a nice little chunk of the news cycle--on and on!
Wed Aug 29, 2012, 04:25 PM
Aug 2012

This is worth a debate question, certainly.

The Wielding Truth

(11,410 posts)
27. If telling the truth will destroy it. So be it. Destruction is never a goal. Accountability can be
Thu Aug 30, 2012, 12:35 PM
Aug 2012

be the end when major wrongs were done. This is more proof that this Con man has been pulling these con jobs again and again. He must be held accountable!

 

NYC_SKP

(68,644 posts)
11. Well, I'm sorry kpete. This just cannot be true. Romney buys 3-packs of dress shirts at CostCo.
Wed Aug 29, 2012, 07:00 PM
Aug 2012

And does his own laundry.

Not buying it.

onethatcares

(16,119 posts)
12. plus he bought food things and
Wed Aug 29, 2012, 07:02 PM
Aug 2012

pushed them in a metal cart to his limo SUV. He's just like the rest of the

finely washed masses. You're just jealous.

tomm2thumbs

(13,297 posts)
13. great story - thanks for posting - for those with slow connections, adding 'print' version
Wed Aug 29, 2012, 07:07 PM
Aug 2012

link to 'print' version without all the huge graphics, flash, etc of the regular website

http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829?print=true

drm604

(16,230 posts)
31. What is going on in that picture?
Thu Aug 30, 2012, 01:13 PM
Aug 2012

Is that a (probably fake) gun?

What is this supposed to be depicting?

sellitman

(11,591 posts)
23. Perfect timing too!
Thu Aug 30, 2012, 09:36 AM
Aug 2012

Plenty of time to spread this far and wide!

Thanks for your super sleuth work once again.

Tweeted far & wide!!

DippyDem

(658 posts)
24. K&R This needs to go viral in time for tonight's RNC show
Thu Aug 30, 2012, 10:59 AM
Aug 2012

WOW! A must read. Williard is really Robin hooding from us (the US taxpayers) and giving to the Bain Partners.
This is major!

Antiromney

(1 post)
26. Tell really big lies......
Thu Aug 30, 2012, 12:33 PM
Aug 2012

As Adolf Hitler wrote in "Mein Kampf".
Just don't tell small lies, tell really big lies, but repeat them over and over again.

JHB

(37,122 posts)
29. It's good to be a governor's son...
Thu Aug 30, 2012, 12:56 PM
Aug 2012
How had Romney scored such a favorable deal at the FDIC's expense? It didn't hurt that he had close ties to the agency – the kind of "crony capitalism" he now decries. A month before he closed the 1991 loan agreement, Romney promoted a former FDIC bank examiner to become a senior executive at Bain. He also had pull at the top: FDIC chairman Bill Seidman, who had served as finance chair for Romney's father when he ran for president in 1968.




JHB

(37,122 posts)
32. Romney, a one-man "welfare queen" batallion
Thu Aug 30, 2012, 01:15 PM
Aug 2012

maybe a regiment.

Average Monthly Benefits (Constant Dollars, 82-84 CPI)5
Program 1980 1993
AFDC (per family) $350 261
Food Stamps (per person) 42 47
It is impossible to live well on welfare alone, and most recipients go hungry near the end of the month. In 1992, the poverty level for a mother with two children was $11,186.6 In that year, the average yearly AFDC family payment was $4,572; Food Stamps for a family of three averaged $2,469, for a total of $7,041. That was only 63 percent of the poverty line, and 74 percent of a minimum wage job.
http://www.huppi.com/kangaroo/7Welfare.htm

So in 1992, average yearly AFDC+ food stamps for a single mother of 2 was $7,041, compared to Romney's putting the FDIC on the hook for $10 million.

Which means in one fell swoop Romney cost the taxpayers more that 1420 "welfare queens", just to put the Republicans' priorities in perspective.

If you're worried about an army of moochers, that one deal made Mitt worth a battalion of presumed and dreaded moochers. Who's taking your hard-earned tax money, again?


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