Yup. Mr. "Business Expert" got a bailout....
The never-aired bailout ad, shared with POLITICO by one of Kennedys advisers, remains an unexploded grenade from that race, underscoring Romneys vulnerability in the first presidential election fought since the 2008 financial meltdown.
According to former Kennedy advisers, the ad never ran because it turned out to be unnecessary: Kennedy had already broken Romney with a series of ads tying him to layoffs in Indiana.
The way the company was rescued was with a federal bailout of $10 million, the ad says. The rest of us had to absorb the loss Romney? He and others made $4 million in this deal. Mitt Romney: Maybe hes just against government when it helps working men and women.
The facts of the Bain & Co. turnaround are a little more complicated, but a Boston Globe report from 1994 confirms that Bain saw several million dollars in loans forgiven by the FDIC, which had taken over Bains failed creditor, the Bank of New England.
Read more: The Bain of Mitt Romney?s campaign - Alexander Burns - POLITICO.com
The never-aired bailout ad, shared with POLITICO by one of Kennedys advisers, remains an unexploded grenade from that race, underscoring Romneys vulnerability in the first presidential election fought since the 2008 financial meltdown.
According to former Kennedy advisers, the ad never ran because it turned out to be unnecessary: Kennedy had already broken Romney with a series of ads tying him to layoffs in Indiana.
The way the company was rescued was with a federal bailout of $10 million, the ad says. The rest of us had to absorb the loss Romney? He and others made $4 million in this deal. Mitt Romney: Maybe hes just against government when it helps working men and women.
The facts of the Bain & Co. turnaround are a little more complicated, but a Boston Globe report from 1994 confirms that Bain saw several million dollars in loans forgiven by the FDIC, which had taken over Bains failed creditor, the Bank of New England.
Read more: The Bain of Mitt Romney?s campaign - Alexander Burns - POLITICO.com