BUT why should American taxpayers have to be forced to pay for Willards business incompetence and greed?
Workers were denied the severance pay and health insurance theyd been promised, and their pension benefits were cut..
Whats more, a FEDERAL GOVERNMENT insurance agency had to PONY UP $44 MILLION TO BAIL OUT the companys underfunded pension plan.
Nevertheless, Bain profited on the deal, receiving $12 million on its $8 million initial investment and at least $4.5 million in consulting fees.
http://legalinsurrection.com/2012/01/bain-drip-drip-drip/
The Wall Street Journal analysis is also quite devastating for Willard the Vulture/Lib at Bain..
Adding insult to injury, Bain would hide its profits in tax havens, not even paying the rate it was supposed to on the profits it made laying off workers.
Lets see how the taxpayers feel about bailing out these companies pension funds and receiving no tax money back from Bain. Lets let the people decide what they think of bailing out Romney.
Nobody, including Bain, should get a bailout. But reducing your payroll is very often a necessary step to make a company more efficient so it can survive. Otherwise, nobody gets anything because the company collapses.
This line of attack is anti-capitalist and anti-free market, as Rush pointed out today.