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ID:

644

Date:

2012-08-29

Headline:

The Federal Bailout That Saved Mitt Romney

Reporter's name:

Tim Dickinson

Delay/denial:

No

Lawsuit:

No

Fees:

No

Media outlet:

Rolling Stone

City:

Washington, DC

Summary:

Federal documents revealed that Mitt Romney’s effort to resuscitate Bain & Company after financial turbulence in the early 1990s left the firm with “no value as a going concern” until Romney took advantage of loan-agreement terms that allowed it to reward executives ahead of creditors, to force the federal government to write off $10 million in obligations, effectively bailing out the private company.

Notes:

Rolling Stone used the Freedom of Information Act to obtain records from the Federal Deposit Insurance Corporation (FDIC).

Keywords:

Mitt Romney, bailout, Federal Deposit Insurance Corporation, FDIC, Bain, Bain Capital, Bain & Company

URL:

http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829


Agencies:

FDIC

States:

DC

Categories:

business
presidential election


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