Romney Took Almost-Bankrupt Bain Money For Executive Bonuses While Owing The Government Millions

Submitted by Vegasman

Bain was practically dying in 1992, according to an expose in Rolling Stone by Tim Dickenson. As John Cook at Gawker writes:

Romney has always taken credit for rescuing Bain & Co., the consulting firm where he got his start (as distinct from Bain Capital, the private equity operation he later co-founded) from the clutches of bankruptcy by dint of fearless resolve, hard work, and common sense. The truth: He raided its coffers for executive bonuses even as it owed millions to the federal government, and used the resulting lack of cash as leverage to screw over the company’s creditors.

By: vegasman