Mitt Romney got very rich as a Corporate Raider and Job Killer

Mitt Romney is not only a flip-flopper and liar, he got very rich as a corporate raider and job killer. As usual, he is trying to buy the presidency with his wealth.

A front page story in the New York Times on Sunday, June 3rd questioned some of Romney’s claims about his supposedly stellar business career. The Times interviewed numerous people for the story and discovered that as a venture capitalist most of the risk in the investing was not placed on Romney but rather on the other partners in the firm.

Two transactions made by the firm are reported in the article, one with Dade Behring in 1999 and another with KB Toys in 2001. In both cases, Bain Capital’s involvement forced the companies to file for bankruptcy and layoff thousands of workers. Romney was a heavy investor in Bain Capital at the time and remains one to this day.

Romney’s cold-blooded business tactics are documented in an in-depth series on Romney and his life in the Boston Globe. A story investigating Romney's successful business career examined several transactions made by Romney's company, Bain Capital. One of these transactions involved a company called Ampad, which Bain Capital purchased in 1992. After several years of tremendous profits for Romney and his fellow investors, and hardship for the company’s workers, Bain shut down several plants, leaving hundreds of workers without jobs. In the end Bain Capital’s involvement with Ampad forced the company to file for bankruptcy and left over 500 people without jobs.