Mitt Romney Benefited From Government Bailout:

Discussion in 'Politics' started by LilOlLady, Sep 25, 2012.

  1. LilOlLady
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    LilOlLady Gold Member

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    Mitt Romney Benefited From Government Bailout:

    If you happen to see Mitt Romney talking about his time at Bain Capital, keep this in mind: The government helped him build that.
    One of those creditors was the FDIC, which had taken over a bank that loaned money to Bain. The FDIC ended up collecting about $14 million of the $30 million Bain owed it, according to the magazine. Taxpayers didn't foot the bill for this, FDIC banks did, but RS points out that those costs were in turn probably absorbed by bank customers in the form of higher fees.
    Mitt Romney Benefited From Government Bailout: Report
     
  2. tyroneweaver
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    tyroneweaver Gold Member

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    what does FDIC stand for :rolleyes:
     
  3. courseofhistory
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    courseofhistory BANNED

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    So Romney isn't such a financial guru after all! Is this how he'd manage our US debt? We'd certainly never get credit again!

     
  4. plant
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    plant VIP Member

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    Romneys big accomplishment the Olympics was a bailout


    Romney’s 2.7 Billion Olympic Bailout by John McCain | Politicol News

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    Romney’s 2.7 Billion Olympic Bailout by John McCain
    Posted by politicol on July 28, 2012
    46
    In 2002 the Winter Games held in Salt Lake City, Utah, home of the Mormon Church, Mitt Romney canvassed the White House for a bailout of the Olympic Games.


    The Final Bill was: 2.7 Billion Dollars given to Romney by George Bush, the then, President to complete the Games which was grossly over-budget from the initial costs.

    The taxpayer saved the Olympic Games from what was corruption, greed and misappropriations of funds.

    Mitt Romney failed to gather support from corporation sponsors to swing the costs to private businesses, which is one of the qualities he boasts about in his run for the 2012 Presidential Election. Had that been true, the taxpayer would not have been footing the bill for the entire project.

    Romney has no problem asking for a government bail out and no problem admitting he could not accomplish the task of funding the Winter Games.

    In this clip, Senator John McCain blows up on Romney’s pork barrel project and the failure to remain within budget.

    In this same clip Mitt Romney calls it” Modest help when he asked Senator Bennett, a member of the Appropriations Committee for money”. Sen. Bill Bennett was the Republican Senator for the State of Utah, whom he worked with to get the massive bailout money during the Bush Administration.

    Apparently, Mitt Romney lobbied Hard for Money from Congress to bail him out, to fund the Olympics and to add to the National Debt, and in the end he credits himself for “Saving the Olympics” as he puts it.

    Romney: “I think he was thinking we were asking for 5 to 10 million, we asked for several hundred million dollars in help. Everything that was needed was ultimately obtained”.

    McCain: “…The American taxpayer has become by far, the largest single underwriter of the costs of hosting the Olympics”.

    We apologize for the audio quality, please adjust your ears, but this is well worth listening to as we continue to vet Mitt Romney for the Presidency of the United States.



    As Senator John McCain points out:

    1) The 1984 Summer Olympics in LA received 75 Million Dollars in Federal Support.

    Compared to:

    2) The 2002 Winter Olympics in Utah received 1.3 Billion Dollars in Federal Support. (Final Total was 2.7 Billion)

    3) What the Money was Used for:

    91% in LA was for safety, Security, Safety
    7% was non-security funding

    4) In Utah the 1.3 billion was spent on building Salt Lake City Infrastructure

    $ 974,000 Utah Olympics Public Safety Command
    $ 5 Million Dollars to Communications Agency Networks
    $ 3 Million Dollars to Olympic Regional Development (Upgrades to Sports Complex)
    $ 2.5 Million Dollars Bus Facilities
    $ 2.5 Million Dollars to SLC regional parks ride lines
    $ 500,000 SLC Transit Bus
    $ 925,000 SLC Public Safety after the Olympics
    $ 1 Million for SLC Security and Training
    $ 2,200,000 for SLC Sewer Infrastructure Needs associated with the Games.

    I am Mitt Romney and I can Blow your Taxpayer Money Big Time

    As Sen. McCain outlines, what began as corruption and bribery charges in Salt Lake City, before Mitt Romney took over, turned to massive paybacks, pork barrel for the City and friends of Mitt Romney.

    It was no surprise that the Salt Lake City association with the Mormon Church is the connection here to Romney and the pork barrel spending. Mitt Romney now donates stocks from Bain Capital regularly to the tax free status Mormon Church.

    President George Bush approved of Mitt Romney’s pork barrel spending, which included the construction of roads and bridges for the Olympics.

    If Salt Lake City needed 1.3 billion in infrastructure required to host the games, they never should have been chosen as a viable site to host the Games.

    In conclusion, Mitt Romney claims he will slash spending and reduce the deficit, when his track record shows he does not know how to budget. In his term as Gov. of Mass. he also left the state with a 5 billion dollar deficit. As a potential candidate, Romney’s record evolves around:

    The Romney Big Tax Payer Spending record and passing the costs on to the middle class who pay the volume of taxes to run this country are legendary. Although he makes false claims in the mainstream media, and they erroneously report “He saved the games in 2002″ the reality of what Romney did is a completely different story.

    What you hear on NBC, CBS, Fox News, and CNN the other faux news channel, is just one example of the fabricated misinformation on the reality of the big spending, bailout that Mitt Romney received as CEO of the 2002 Winter Olympic Games.

    This is the Reality of Mitt Romney’s Resume on the 2002 Winter Games- The Most Expensive Games in history.
     
  5. CaféAuLait
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    CaféAuLait This Space for Rent

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    Just like your article says in the last paragraph, "that reed is a little too thin to beat Romney with" but keep looking because there may be other examples.
     
  6. Londoner
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    Londoner Gold Member

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    Reagan's father was given a government job at the height of the depression.

    Government saved the Reagan family.

    This is why Ronnie started his political career as a Democrat.

    Big government HELPED the Reagan family. FDR did not see it as a handout, rather, he believed it was okay for government to give people a leg-up during hard times. FDR believed that poor American families were worth investing in. He believe that if you helped good people during hard times, those good people would bounce back and make something of their lives - and perhaps contribute to this great nation.

    Was FDR right to invest in the Reagan family? Are people happy that Government saved the Reagans?

    (Had FDR called the Reagans Welfare Queens, we would never have had the 40th president . . . and we may never have had the Conservative revolution which ended liberal hegemony)

    (Fucking talk radio morons. You don't know history. That's why it's so easy for the Rush Limbaugh to manipulate you)

    [ame=http://www.youtube.com/watch?v=uJDhS4oUm0M]Reagan Campaigns for Truman in 1948 - YouTube[/ame]
     
    Last edited: Sep 25, 2012

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