Bain’s SC Company Took Gov Incentives, Went Belly Up But Took Huge Profits
This is also why I re-Tweeted an item about Bain helping Obama with the auto bail-out.
Romney's Former Firm Bain Advised Obama on Auto Bailout
And this is what really ticks me off. We're told what a great capitalist Romney is and if we attack him, we're attacking capitalism. So, then why did his firm engage in so much socialism and still manage to screw up businesses, after pocketing tons of cash for themselves? This doesn't sound like the kind of capitalism I believe in. The taxpayers often took part of Romney's risk, or bailed out his mistakes, as with a pension fund, but he always managed to feather his own nest pretty damned well. This is what's wrong with America, not what's worth defending. And if one digs deep enough to donations to politicians and such, it's invariably corrupt.
That abstract view quickly fades into real-life experience in this small, economically struggling community. A company owned by Romney's private equity firm set up shop just outside Gaffney in 1988, with considerable government incentives, but closed four years later.
About 150 people lost their jobs as Romney and Bain Capital collected millions in profits. The history clashes with Romney's narrative as a successful businessman who can help turn around the economy.
"I bet if Romney had to live here, he wouldn't have done it," said Tony Lipscomb, the owner of Harold's Restaurant who said he had been considering voting for Romney. "If that's his mind-set running a good business, then I don't think he's qualified."