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To: Qbert

Wow... Santorum is running for Mitt’s VP?


17 posted on 01/09/2012 8:39:42 PM PST by Lancey Howard
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To: Lancey Howard
Mitt Romney stated he created over 100,000 jobs..fuzzy math? he flaunted his leadership with Bain. There is another side to that story that is shady and should be brought to the voters attention. Romney is a snake oil sales man...as for Santorum he voted to RAISE the debt ceiling EIGHT times and yes, he is the KING of earmarks. Foolish to think if he plays nice to Mitt and even thinks he is going up in the polls that Romneys super pacs wont attack him on those very issues. Romney: Bain Capital If you read Mitt Romney's books or any profile on him, a lot is made of his time as the head of Bain Capital. It's where he made his fortune. It's where he gets all this "I've been in the business sector" and "I know how to create jobs because I did just that at Bain Capital" stuff. But there's a darker side to private equity — the buying up of companies in order to saddle them with debt or break them apart, earning the investors millions and destroying the company and the lives of its (former) employees. At least seven companies that Bain Capital bought or invested in, mostly during the nineties when Romney was there, went bankrupt despite generating profits of over half a billion dollars for the fund. Several thousand people lost their jobs in the process. What's more, some of those companies were actually successful before Bain Capital showed up. American Pad and Paper, GST Steel, DDI Corp … the list goes on and on. This history of layoffs — at odds with Romney's "I've created jobs" mantra — was partly what helped sink his 1994 bid for Ted Kennedy's Senate seat. Responding to a question from NBC's Brian Williams, Romney said: "We tried to make these businesses more successful. By the way, they didn't all work. When it was all said and done, we added tens of thousands of jobs to the businesses we helped support." There were success stories, to be sure, particularly office-supply chain Staples and Indiana-based Steel Dynamics. But Romney’s rhetoric ignores the fact that private-equity companies like Bain are better known for destroying jobs than for creating them.
29 posted on 01/09/2012 9:03:02 PM PST by katiedidit1 ("This is one race of people for whom psychoanalysis is of no use whatsoever." the Irish)
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