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Picking winners and losers

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Picking winners and losers Empty Picking winners and losers

Post by Idéfix Mon Oct 29, 2012 10:12 pm

In the first presidential debate, Romney said that half of the energy companies the government invested in have gone out of business. The government invested in 63 companies, of which 8 have gone bankrupt. Mitt Romney knew that is actually 8%, but he decided to say "half" anyway. No big deal because he lies all the time, and by now people kinda expect him to do that. But here is the more interesting thing. Romney touts his record of success at an investment firm. For most of the last two years, he has run on his career at Bain Capital. The Wall Street Journal has done some digging around and found that during Romney's time at the helm, the firm made investments in 77 companies, and 22% of them went bankrupt or closed shop within 8 years. A full 8% of those investments resulted in Bain losing its entire investment.

Jon Stewart did a great job of pointing this out: http://www.thedailyshow.com/watch/thu-october-25-2012/picking-winners---losers

Picking winners and losers Captur11

Picking winners and losers Captur12

Picking winners and losers Captur13

Bain Capital is considered one of the top-notch private equity firms. Romney criticizes the Obama administration for doing better with its investments of taxpayer dollars than he did in the private sector.
Idéfix
Idéfix

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Join date : 2012-04-26
Location : Berkeley, CA

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