Dick Tuck
Board Troll
- Aug 29, 2009
- 8,511
- 505
- 48
Hey, Mr. Etch-a-Sketch, you know what they say about people who live in glass houses.
Investment skeletons hiding inside Mitts closets
Investment skeletons hiding inside Mitts closets
GOP presidential hopeful Mitt Romney has hammered President Obama for his administrations tax-funded investment blunders but when Romney was governor, the state handed out $4.5 million in loans to two firms run by his campaign donors that have since defaulted, leaving taxpayers holding the bag.
The two companies Acusphere and Spherics Inc. stiffed the state on nearly $2.1 million in loans provided through the states Emerging Technology Fund, a $25 million investment program created while Romney was governor in 2003 that benefitted 13 local firms.
Acusphere, a biotechnology firm headed by a Romney campaign donor, got $2 million in 2004 that it was supposed to put toward a $20 million manufacturing facility in Tewksbury, which never became fully operational. Calls to Acuspheres headquarters in Lexington were not returned.
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