So will this be another issue where Romney is given a pass by the Republican / conservative supporters? Will it be only be Democratic / independents outraged to learn about Romney’s hypocrisy over a government bailout for his company? From The Raw Story:
The day after the close of the 2012 Republican National Convention, Vice President Joe Biden came out swinging at inaccuracies in a speech given by Rep. Paul Ryan (R-WI) and calling Republican presidential nominee Mitt Romney to account for pressuring the government to bail out help his former private equity firm Bain & Company.
For Biden, the Bain attack is a new one, based upon a report filed Wednesday in Rolling Stone. Documents obtained by reporter Tim Dickinson show that Romney settled more than $30 million in debts Bain owed to a bank the FDIC had taken control of by threatening to loot the company’s assets for executive bonuses and put Bain into bankruptcy if the government didn’t cancel the company’s debt for just 30 cents on the dollar.
“You know, he is absolutely against the federal government or any government using funds to save jobs, to save industries,” Biden said Friday, speaking to a group of auto workers in Lordstown, Ohio. “It’s bad business, he says. Except when it comes to his business.”
“Let me quote from recent reporting,” he went on. “‘Romney was willing to go to extremes to secure a federal bailout’ when Bain Consulting was on the verge of collapse. The way they reorganized cost the government $10 million. Imagine that: It was one thing when a million middle class jobs were on the line. It was another when his own financial interests were on the line. And now they say they care about the middle class?”
Now we know that Romney’s “success” and business experience relies on government bailouts — for himself, not for anyone else (Let Detroit Go Bankrupt). And we know that it’s okay for the federal government to run up debt if it’s going to bail out Mitt Romney’s own company. Can you imagine how Romney will manage America®, once he’s acquired that investment?