Romney’s federal bailout & $4m consultancy fee

Rolling Stone, based on government documents it obtained under the Freedom of Information Act, says Republican presidential candidate Mitt Romney engineered a federal bailout for Bain & Company that “screwed the FDIC – the bank insurance system backed by taxpayers – out of at least $10 million” at a time when his company had “no value as a going concern.”  At the time he was negotiating the handout, Romney gave hefty bonuses to top executives and then had the company pay Bain Capital a $4 million consulting fee for his services.

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