How Romney Never Really Left Bain

Posted by | July 16, 2012 20:54 | Filed under: Top Stories

He “never really left,” reported the New York Times, because Bain’s business practices have provided him with huge profits ever since he “left” the firm.

“In what would be the final deal of his private equity career, he negotiated a retirement agreement with his former partners that has paid him a share of Bain’s profits ever since, bringing the Romney family millions of dollars in income each year and bolstering the fortune that has helped finance Mr. Romney’s political aspirations,” explained the Times analysis of Romney’s personal finances. “The arrangement allowed Mr. Romney to pursue his career in public life while enjoying much of the financial upside of being a Bain partner as the company grew into a global investing behemoth.”

…Indeed, as the Times assessment noted late last year, well after he launched his current presidential campaign, Romney was still profiting from “Bain deals that resulted in upheaval for companies, workers and communities.”

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Copyright 2012 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

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