Democracy Now: Romney in 1985 Video: Bain’s Goal Is to “Harvest” Companies for Profit

A new video meanwhile has raised questions about Mitt Romney’s repeated claims on the campaign trial that his business background would help him create jobs as president. The video released by the magazine Mother Jones shows Romney in a 1985 address describing the mission of Bain Capital, the private equity firm he co-founded and formerly ran, saying Bain’s goal is to “harvest” companies for profit.

Mitt Romney: “Bain Capital is an investment partnership which was formed to invest in startup companies and ongoing companies, then to take an active hand in managing them and hopefully, five to eight years later, to harvest them at a significant profit.”

~ by wheresthemic on September 28, 2012.

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