Romney Invested Millions in Chinese Firm That Profited on US Outsourcing

[FarLeftFist]

Last month, Mitt Romney's campaign got into a dustup with the Washington Post after the newspaper reported that Bain Capital, the private equity firm the GOP presidential candidate founded, invested in several US companies that outsourced jobs to China and India. The campaign indignantly demanded a retraction, claiming that these businesses did not send jobs overseas while Romney was running Bain, and the Post stood by its investigation. Yet there is another aspect to the Romney-as-outsourcer controversy. According to government documents reviewed by Mother Jones, Romney, when he was in charge of Bain, invested heavily in a Chinese manufacturing company that depended on US outsourcing for its profits—and that explicitly stated that such outsourcing was crucial to its success.

The rest: http://www.motherjones.com/politics/2012/07/bain-capital-mitt-romney-outsourcing-china-global-tech

[moondust]

1. Also...

I'm guessing that his money sitting in offshore accounts is being used to fund all kinds of stuff overseas that works against the interests of American businesses and workers but that's where the return is greatest so Rmoney benefits the most personally.

[deminks]

2. If we knew what was in his heart, we would be even more disgusted.

If he never left Bain, then he is still profiting from sending jobs overseas.


Hey, Swiss Mitt. Your Bain is showing.

[AnotherMcIntosh]

3. His wealth will increase when the pending let's-send-more-jobs-to-foreign-countries "free-trade"

agreement is signed.

Trans-Pacific negotiations have been taking place throughout the Obama presidency. The deal is strongly supported by the U.S. Chamber of Commerce, the top lobbying group for American corporations. Obama's Republican opponent in the 2012 presidential elections, Mitt Romney, has urged the U.S. to finalize the deal as soon as possible.
http://www.huffingtonpost.com/2012/06/13/obama-trade-document-leak_n_1592593.html

No wonder he favors it.

[KT2000]

4. Loyal to money

and that is about it. Wonder if he is going to start singing the Chinese National Anthem at his townhalls. He sure can't sing the American one.