He claims to be a successful businessman. When he ran Bain Capital, it was going into bankruptcy in the 1990s and he had to secure a rescue from the FDIC. Yes, a big government bailout. In turn, he was able to leverage a $10 million profit for himself and his top executives at a cost to us, the real taxpayers. As I write this, in Freeport, Ill., an auto-parts plant called Sensata is stripping its equipment to be shipped to China. Its 170 workers, after being forced to train their Chinese replacements, will be left with no job, no health care and retirement pensions that will probably not be there. Sensata made a profit of $504 million last year. This of course was not good enough for Bain Capital.
The average pay for workers at the plant was $17 an hour, however, by moving the plant to China, it will pay the workers $1 an hour. Mitt Romney will say that his interest in Bain Capital is now in a blind trust. Regardless, he stands to make $8 million off the deal. So this is the man that America will elect to lead us and defend our interests.