Mitt Romney has an amazing ability to make a profit on anything. He can make millions when a company goes bankrupt, reap huge returns off the 9/11 tragedies and profit from getting high schoolers hooked on tobacco. But his greatest trick off all was raking in millions from the auto rescue he opposed.
In a stunning exposé published Thursday in the The Nation – with support from The Investigative Fund — reporter Greg Palast reveals how key donors to Romney’s campaign made more than a billion dollars off the restructuring of General Motors by holding a key player in the supply chain hostage [called Delphi Automotive] to their demands during the heart of America’s worst jobs crisis in 50 years…
[A hedge fund called Elliot Management bought Delphi for 67 cents a share, then] took [$12.9 billion in] federal bailout funds, slashed worker pensions, fired union workers and sent American jobs overseas [and generated a 3,000% return for Ann Romney and other investors].
[Romney’s] legendary flip-flops aren’t the lies of a bumbling opportunist – they’re the confident prevarications of a man untroubled by misleading the nonbeliever in pursuit of a single, all-consuming goal.
Matt Taibbi of Rolling Stone magazine, in his latest cover story Greed and Debt: The True Story of Mitt Romney and Bain Capital
I had a different reaction to that first debate than a lot of people did. I thought, ‘Wow, here’s old moderate Mitt. Where ya been, boy?’ It was like one of these Bain Capital deals, you know, where he’s the closer. So he shows up, doesn’t really know much about the deal and says, ‘Tell me what I’m supposed to say to close.’ The problem with this deal is the deal was made by severe conservative Mitt.
President Bill Clinton, campaigning for Obama in Las Vegas yesterday. Clinton nails this one on the head. Romney is a slick salesman, the “closer.” It is second nature to him to say ANYTHING to close a deal. I mean how many CEOs did he talk into raping their company with a Bain “consulting” deal?
Mitt Romney has repeatedly insisted during the presidential campaign that layoffs and other controversy surrounding Bain Capital companies for the past decade are not his responsibility, because he retired in 1999. When tax experts charged that he benefited from legally dubious tax avoidance strategies employed by Bain, his campaign noted that the investments are kept in a blind trust completely out of his control.
“As we have said many times before, Governor and Mrs. Romney’s assets are managed on a blind basis. They do not control the investment of these assets. The investment decisions are made by a trustee,” spokeswoman Michele Davis said.
But according to his 2010 tax return, when the Internal Revenue Service comes calling in April, Romney has a different answer: The presumptive GOP nominee reaps lucrative tax breaks for “active” participation in the private equity firm he founded, as well as a host of other investments…
[Romney is] in a rhetorical jam: For tax purposes, he claims an active status; for political purposes, he claims to have zero to do with the investments.
In other words, Mittens has been caught in yet another lie about his involvement with Bain.
- his tax returns
- donations to his church (that’s private now, although he and his wife touted their tithing often in the past)
- his party’s candidates for Senate
- his party’s platform
- his business experience at Bain Capital
- his offshore investments
Look up Mittens Romney in the dictionary and it’ll say imperious lying asshat.
In other words, as far as the Romney campaign is concerned, the candidate is absolved of responsibility for his company’s investments, layoffs, and bankruptcies because Romney “retroactively” erased those years from his business record, perhaps taking advantage of some kind of loophole in the space-time continuum.
Epic line from Steve Benen’s latest blog entry Desperation leads to ‘retroactive’ rationalizations.
Every time I read one of these excuses, I think how bad Bain must have been post-February-1999 for Romney to expend this much energy absolving himself from everything the company did after that date.
So ashamed of everything Bain did that he and his supporters have to lie about his involvement, but still using it as the reason he’s qualified for the Presidency.
So now we know Romney’s been lying about Bain since 1994 when he first ran for Senate against Ted Kennedy
Could you imagine having to lie about all the damage the company you founded has done, how you can’t even be proud of the deals because once the facts are known, Bain was horrific for anyone they touched except themselves?