In my article last week on 'Bermuda-Gate', I talked about why Romney's Offshore Bank Accounts are a big problem for his Presidential run. This weekend I put all the pieces of evidence together that I found on Romney to form a clear picture of the man. It was time, I realized, to summarize my case why Romney should NOT be elected in November.
Please comment on this new article in Huffington Post and be sure to share it with friends. The more awareness we develop, the likelier it is that we will get the result we want in November.
Consistency, they say, is the hobgoblin of little minds, but sometimes it is just nature at its rare best -- when everything fits perfectly. As I write this piece, I feel a bit like a prosecutor who suddenly has all the pieces of evidence necessary to make a rock-solid case. It's a good feeling and I have Mitt Romney to thank for it.
Excerpts:
Exhibit A - Bain Capital's Business Model
Notwithstanding the financial engineering behind such transactions, the essence of the Leveraged Buyout, or LBO, is painfully simple. Under Romney, Bain bought companies by using a little bit of its own money, taking a big loan out for the rest, and then dumping that debt onto the companies' books so that Bain itself took very little risk.
Exhibit B - Outsourcing
Outsourcing of U.S. jobs to India and China has its defenders, but it doesn't change the fact that it's problematic and usually hurts the domestic workforce. Whether the arena is manufacturing, packaging, or information technology, a job is a job and when it gets shipped overseas, it deprives Americans of their livelihood. Yet during Romney's tenure, Bain invested in several companies that did exactly that or at least were part of that chain.
Exhibit C - Offshore Bank Accounts
In something straight out of The Firm, Romney has routinely moved his money offshore to tax shelters like Bermuda and the Cayman Islands in order to shield them from the IRS.
Read the Full Article HERE at Huffington Post.