Tuesday, June 5, 2012

Mittens explains Bain Capital

Corpartions are essentially amoral and most of them make decisions that are designed to maximize profits. Negative effects on people are secondary.

GST  Steel is one example of a Bain acquisition that was used for loan collateral so Bain could invest in other businesses.

When the loans got to an unmanageable level, Bain put CST into bankruptcy court. The federal government was forced to step in to bail out the pension fund.

Mitt Romney claimed he would be a job creator in 2002 when he ran for MA governor. When he left office, MA was ranked 47th in the nation for job creation.


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