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Actually,
foreign companies invested in Bain Capital, creating American jobs
Another one
of the Obama campaign’s attacks on Mitt Romney and Bain Capital is
starting
look pretty silly. New
information turns
the Bain “outsourcing” narrative completely on its head. As it turns out, instead
of sending money
overseas, Bain Capital actually received money from foreign investors
while
Romney was CEO, enabling him to start his company right here in the
United
States.
from the LA
Times:
When Mitt
Romney launched Bain Capitalin 1984, he struggled at first to raise
enough
money for the untested venture. Old-money families like the Rothschilds
turned
down the young Boston consultant.
So he and
his partners tapped an eclectic roster of investors, raising more than
a third
of their first $37-million investment fund from wealthy foreigners.
Most of the
foreign investors’ money came through corporations registered in
Panama, then
known for tax advantages and unusual banking secrecy.
Previously
unreported details, documented in Massachusetts corporate filings and
other
public records, show that Bain Capital was enmeshed in the largely
opaque world
of international high finance from its very inception.
The
documents don’t indicate any wrongdoing, and experts say that such
financial
vehicles are common for wealthy foreign investors. But the new details
come as
President Obama has criticized Romney for profiting from Bain Capital’s
own
offshore investment entities, which are unavailable to most Americans.
Read the
rest of the LA Times article by clicking below.
Don’t be
confused by the LA Times’ absurd spin here.
What this describes is exactly the opposite of
what the Obama camp has
been accusing Mitt Romney of.
Romney took
money from foreign investors and invested them in an American company,
building
American wealth, creating American jobs.
Not the other way around.
Source:
poorrichardsnews.com
Read this
article, the link to LA Times, and other articles at Mail Magazine 24
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