Romney Got $10 Million Federal Bailout at Bain

Mitt Romney received a $10 million bailout from the Federal Deposit Insurance Corp. in 1991, an event that runs contrary to the multimillionaire’s current anti-bailout position.

Documents obtained by the Boston Globe show that the FDIC negotiated a $10 million forgiveness with Bain & Co. while Romney was chairman and CEO in 1993.

The negotiations were part of a deal designed to reduce the debt load at the company, which was near bankruptcy. The FDIC had been forced to seize Bank of New England, who was a creditor of Bain’s.

In 2008, in a New York Times op-ed titled “Let Detroit Go Bankrupt,” Romney argued  that “Detroit needs a turnaround, not a check.”

In May of 2011, Chrysler succesfully paid  the U.S. Treasury back $5.1 billion from its federal bailout, while a study found  that 1.14 million jobs were saved by the bailout of the auto industry.

The Romney Con

Mitt Romney is a two-faced phony! The man is consistently inconsistent on all political matters. He is a big government Neo-Conservative who receives massive contributions from Wall-Street lobbyist.  There is a candidate who values honesty, morality and consistency. The one, the only, Ron Paul.

Rick Santorum 2006 Senate Ad

Rick Santorum, just like the other GOP candidates, is a greedy politician who follows the dollar trail. Please don’t waste your vote, Ron Paul has stood by his word for 30 years. This country needs a fresh start!

Ron Paul at the CNBC Republic Debate

Ron Paul continues to be the only candidate who offers anything of value to American citizens, including a balanced budget plan. In addition, people continue to plug their ears and support the same crooks who run on both sides of the political circus.

Steer Clear of Herman Cain

With Herman Cain now receiving some attention among GOP candidates, we should examine his political record. While Mr. Cain is not the worst candidate for the office of presidency, he certainly isn’t the best. Let me give you the facts:

  • He blindly support TARP and the government bailouts of 2008. He also endorsed the Bush administration’s intervening and condemned the free market supporters who called for honesty and sound money. I won’t support a man who favors the bailing out of crooks and cronies at the expense of hard-working individuals.

http://washingtonexaminer.com/blogs/beltway-confidential/2011/05/flashback-2008-herman-cain-praised-tarp-chided-free-market-purist

  • This man thinks the patriot act is 90% correct. On the whole, he thinks it is effective and necessary. The patriot act might be the greatest infringements on human liberties in the history of this nation.

http://www.theatlantic.com/politics/archive/2011/05/herman-cain-spying-on-americans-is-okay-but-not-assassinating-them/239400/

  • 2005-2006, Herman denied the housing bubble and the decline of the American economy claiming ignorance on the part of those supporting sound money. How ignorant could you be?

http://www.mrc.org/bmi/commentary/2005/Commentary_The_Media_Say_the_Economy_Is_Horrible_So_It_Must_Be_True.html

  • After serving as the Head of the Kansas City Federal Reserve branch, Mr. Cain does not support an audit of the Fed. This shows his similarities to the crooks running Washington D.C. today.
Why support this man? You have the champion of liberty running against him. Someone who has supported liberty and freedom in all aspects of life for more than 30 years. The one, the only, Dr. Ron Paul