Published on Aug 30, 2012 by democracynow
DemocracyNow.org - A new article by reporter Matt Taibbi in Rolling Stone sheds new light on the origin of Republican presidential candidate Mitt Romney's fortune, revealing how Romney's former firm, Bain Capital, used private equity to raise money to conduct corporate raids. Taibbi writes: "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."
Related Links:
- Matt Taibbi: 'Mitt Romney Is One Of The Greatest And Most Irresponsible Debt Creators Of All Time
- 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
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