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Mitt Romney Politics

Mitt Romney – Bain Was Formed To “Harvest” Companies For Potential Profit

Another gem from Mother Jones:

In the clip below, Mitt Romney is describing the real reason for Bain. Not to act as a job creator like Romney often says, but to invest in other companies with the hopes that in five to eight years, Bain could “harvest” to make a profit.

I’ll let Romney explain in his own words:

Bain Capital is an investment partnership which was formed to invest in startup companies and ongoing companies, then to take an active hand in managing them and hopefully, five to eight years later, to harvest them at a significant profit…

Yes, we all know the real reason anyone goes into business is to make a profit. But if you listen to Mitt Romney on the campaign trail, he will have you believe that Bain existed for the sole purpose of creating jobs. Romney is often heard saying, “I know how to create jobs. I’ve done it before,” and he attacks the president, falsely stating that Mr. Obama’s policies “destroys jobs.”

We’ve seen ads from the Obama reelection team detailing companies that went bankrupt after they were bought by Bain, while Romney and his investors walked away with huge profits. Romney’s campaign usually respond by saying that Bain created more jobs than were lost. His campaign also points to Staples as their success story. But hearing Romney’s mission statement in the video, it seems that Staples’ success was in spite of Bain’s intervention, not because of it.

Here’s the video, filmed in 1985.

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By Ezra Grant

I'm just tired of the lies and nonsense coming from the GOP, so this is my little contribution to combat the nonsense!

2 replies on “Mitt Romney – Bain Was Formed To “Harvest” Companies For Potential Profit”

I feel like back when the Clinton administration was able to work with the republican congress, the nation ran better, and the budget was at a surplus if you remember. These Tea Party assholes have dragged the GOP so far to the RIGHT of right, that the idea of working with the sitting president is less palatable to them than actually balancing the budget, allowing the Bush Era unfunded tax cuts to lapse, ending the two unfunded wars we are actively embroiled in, and real welfare reform. I'd rather vote Libertarian than vote republican this year.

I am FINALLY done with the Republican Party! I am going to "HARVEST" my votes for a straight Democratic ticket this year….and I understand that most of my friends are doing the same thing this year. The Republican Party has gone way too far to the right, and I can no longer support them now….I want my GOP back! 🙁

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