What is Bain Capital? Co-founded by Mitt Romney in 1984, Bain Capital is a classic “strip and flip” shop — a private equity firm that made its money buying businesses and sucking profit out of them by any means possible that often resulted in a stack of pink slips for everyday Americans. As the New York Post reported, during his 15 years as head of Bain, Romney “made fortunes by bankrupting five profitable businesses that ended up firing thousands of workers.”
According to the Boston Globe in 2008: “Romney had chances to fight to save jobs, but didn’t. His ultimate responsibility was to make money for Bain’s investors, former partners said.”
A recent report from the Los Angeles Times notes Romney’s colleagues admit they were not in the business of creating jobs.
Bain managers said their mission was clear. “I never thought of what I do for a living as job creation,” said Marc B. Walpow, a former managing partner at Bain who worked closely with Romney for nine years before forming his own firm. “The primary goal of private equity is to create wealth for your investors.”
And he is running for POTUS? Mitt Romney has proven that he cares little to nothing about what is in the peoples’ best interest. Mitt will do the same to our country – all for profit.
Here’s a few examples of “stripping and flipping” companies — sucking cash out of businesses, laying off workers, and eventually hitting bankruptcy all while making investors like Mitt Romney even richer.
Source of InfoGraphic: Romney-Gekko website – Please check it out!