Mitt Romney Video Shows Him Touting Bain As A Way To 'Harvest' Companies At A 'Significant Profit'
(RMoney on Bain's plan to buy and "harvest"...)
While CEO of Bain Capital, Mitt Romney said the firm "harvested" the companies in which it invested to produce a "significant profit," according to a new video obtained by Mother Jones.
The video of Romney, who made the remarks in 1985, was part of a CD-ROM produced in 1998 to celebrate the 25th anniversary of Bain & Company. In the video, Romney says, "Bain Capital is an investment partnership which was formed to invest in startup companies and ongoing companies, then to take an active hand in managing them and hopefully, five to eight years later, to harvest them at a significant profit."
HuffPost's Ryan Grim and Hunter Stuart compared Bain Capital's strategy of acquiring beleaguered companies to the business model of Tony Soprano. (See video below.)
As one of the "47%" that certainly makes ME identify with this vulture-capitalist. "Harvesting at a significant profit"... Screw the employees...We'll just let the federal government, (the Pension Benefit Guaranty Corp
, i.e., the taxpayers), pick up the cost of what we screw them out of....
