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Posted by on Sep 27, 2012 in Guest Contributor, USA Presidential Election 2012 | 12 comments

Mitt Romney in 1985 Video: Goal of Bain Capital was to “Harvest” Companies for Profit

Mitt Romney

Mother Jones:  In 1985 Video Mitt Romney Said Goal of Bain Capital was to “Harvest” Companies for Profit (Photo credit: Wikipedia)

Mother Jones released a video in which Mitt Romney said the goal of Bain Capital was to identify potential and hidden value in companies, buy significant stakes in these businesses, and then “harvest them at a significant profit” within five to eight years. Um, that’s not what he’s saying on the campaign trail. He’s branding himself as a job-creator. Yep, that’s coming from a guy playing the role of the “sneering plutocrat.” 

Andrew Sullivan: “This is not the ’47 percent’ bombshell. It just shows what Bain Capital was about: rewarding its shareholders by “harvesting” companies. That word is clinical. And look: there’s nothing evil or wrong about Bain. It did what it does, it has had some successes and failures, and it’s not a crime to make money this way. But it isn’t business, as Romney concedes, so much as finance.”

Watch the video:

This was cross-posted from The Hinterland Gazette.