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August 30, 2012 / needhamgrassroots

Greed and Debt: The True Story of Mitt Romney and Bain Capital (Rolling Stone)

From: Greed and Debt: The True Story of Mitt Romney and Bain Capital | How the GOP presidential candidate and his private equity firm staged an epic wealth grab, destroyed jobs – and stuck others with the bill

….And so we get to the hypocrisy at the heart of Mitt Romney.

Everyone knows that he is fantastically rich, having scored great success, the legend goes, as a “turnaround specialist,” a shrewd financial operator who revived moribund companies as a high-priced consultant for a storied Wall Street private equity firm.

But what most voters don’t know is the way Mitt Romney actually made his fortune:

by borrowing vast sums of money that other people were forced to pay back.

This is the plain, stark reality that has somehow eluded America’s top political journalists for two consecutive presidential campaigns:

Mitt Romney is one of the greatest and most irresponsible debt creators of all time.

In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth.

Read more at Rolling Stone

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