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View Diary: Priorities USA hits Mitt Romney's 'heads I win, tails you lose' Bain record (68 comments)

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  •  Here's the problem (0+ / 0-)

    The Steel plant was acquired by Bain & Company in 1983.  Romney was a consultant with Bain, but there is no evidence he was involved in the acquisition.  He left Bain & Company in 1984 to head a new subsidiary, Bain Capital.  

    Bain Capital, had about a 1:1 success/failure rate in its business dealings - but the hits were huge successes - and it earned an annual internal rate of return over 100%/yr.  under Romney.

    Romney left Bain Capital in 1999 to successfully salvage the Salt Lake City Olympics.  The Steel Company declared bankruptcy TWO years after Romney left Bain.  

    Furthermore, the Bain executive, Jonathan Lavine was running the steel company when it declared bankruptcy.  Mr. Lavine is a major fund raiser and supporter of Barack Obama having raised between $100k-$200k for the President's re-election campaign.

    So in answer to your question ---- that's how you spin it.

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