Posted on October 28, 2012
This clip makes it pretty clear as to what Bain Capital and its CEO were up to throughout the 1990s and it explains the real source of Mitt Romney’s phenomenal success as an asset manager. So much of this information is publicly available, it is shocking that it’s never previously been presented so clearly.
Firstly, Mitt Romney’s close relationship with George Bush Sr. and Dick Cheney are newsworthy — and it’s also newsworthy that these close ties have NOT been in the news. Secondly, the “Bain Game” played by Romney: when he left the management consulting firm, Bain & Company in 1989 to form his own company, of which he was the President, CEO and the sole stockholder, the name of his new company was “Bain Capital.”
What? He left Bain & Company to form Bain Capital, a corporation with no legal ties to his former boss, Bill Bain? As the President, CEO and sole stockholder of Bain Capital, Romney could write checks, contracts, audits — he could do anything without ever having to explain anything to anyone about what went on at that company. He had specifically set up Bain Capital in such a way that he could operate in complete secrecy. Why?
On July 19, 2012, the Los Angeles Times reported that Mitt Romney’s super-secret Bain Capital had managed to pay out the staggeringly unreal average yearly return of 173% to its investors – for over a decade! Most of the funds which investors put into Bain Capital were channeled through corporations set up in Panama, long known to be a haven of secretive banking — and of cocaine money laundering. The State Department officially refers to Panama as the “Primary repository and conduit for Colombian and Mexicannarco-trafficking cartels.”
Watch this clip and don’t let your jaw breakwhen it hits the floor!