Is his business legit? He started it with a ton of money... what did he do with it? Why did he need bailouts? Has he even made money ethically? (We already know he was making money off of aborted fetuses, i.e. pre-born babies)...
The GOP candidate says he started a "small company" ... with $37 millionAMPA – Everybody loves small-business owners and tonight Mitt Romney will pretend to be one. “When I was 37, I helped start a small company,” his speech reads, according to excerpts released early. ”That business we started with 10 people has now grown into a great American success story. Some of the companies we helped start are names you know,” he adds. The section comes just after Romney extolls the virtue and industrious of the small-business entrepreneurs.
Of course, the “small company” he refers to is Bain Capital. Bain was started with $37 million in initial capital, much of it raised from wealthy foreign donors. The company was spun off of Bain & Co., an unquestionable giant in the massive international consulting industry. The company quickly invested millions in other companies and grew rapidly, and has $66 billion under management, as of January.
“Small” is obviously a relative term, but considering that the average start-up cost for small business is as low as $10,000, or 1/3,700 of what Romney started his company with, he may be taking some serious poetic licensee.
The funny thing is that Bain Capital, i.e. Mitt Romney's company, claims to enable business and job creation through it's investment (which is a lie, even Rick Perry called what Romney does "vulture capitalism"). Anyways, now you can say to Romney "What? You didn't create jobs! The other business did. You just enabled them to hire". This might even be true, we just need Romney to release his companies records so we can confirm that he actually created jobs (something he still hasn't done but everyone in the media seems to have forgotten) AND we need his taxes to confirm that he actually made his money morally. We know that Congress does insider trading legally so saying you made money legally means nothing. It's HOW you made money that matters (i.e. Obama isn't attacking success, he's attacking Mitt Romney's supposed success).
This is what we know about Bain Capital...
Notice at approx 2 min 50 sec = Bain capital made a huge profit AND steered the company into bankruptcy... if you destroy a company to make money how can you trust that person with the economy of a country? I'm sure destroying the US economy (or even the global economy) will be profitable to some people.... do you really want to hand the reins of the presidency to a person who comes from the greed and lack of compassion side of capitalism? - They(Bain Capital) don't even have to use thier own money to destroy a company AND make money off of that!!!!!!
From Salon: Super PAC to the rescue: American Crossroads, the super PAC connected to Karl Rove, is breaking new post-Citizens United ground by dropping $8.8 million on new ads defending Mitt Romney, instead of attacking President Obama. The new round of ads, which will be the first to refer to Romney directly, will defend his record at Bain Capital against scrutiny from liberals and the press. Because of a quirk in campaign finance law, much of Romney’s money can’t be used until after he officially becomes the nominee at the convention, so Crossroads is stepping in. The ads will call attacks on Bain “misleading, unfair and untrue.”
About Mitt Romney's EIGHT Cayman Tax Shelters...
Related financial weirdness...
- Holds a reported $33 million in the Caribbean British territory's accounts
- Offshore banking could be one reason Romney is withholding his tax returns
- Newt Gingrich reported 31 percent tax on his income -- in line with the top tax bracket
Romney Invested Millions in Firms That Pioneered High-Tech OutsourcingEXCLUSIVE: A government document shows that at Bain he held a $54 million stake in companies that manufactured electronics in China and Mexico for US firms
Mitt Romney's campaign is still wrestling with when he left Bain Capital. Over the weekend, they tried saying he "actually retired retroactively."
Romney's Account of His Departure From Bain Undercut by...Romney Testimony
In a previously unreported remark, Romney indicated he went through a "transition" at Bain after heading to Utah in February 1999.
And these documents challenge Romney's claim that he left Bain Capital in early 1999.
Moment of Zen...
Mitt Romney uses an age-old ruse to explain how his time at Bain Capital wasn't a conflict of interest, and selectively releases his tax returns as required by law...