by: Amy Goodman, Matt Taibbi
DemocracyNow.org - A new article by reporter Matt Taibbi in Rolling Stone (Greed and Debt: The True Story of Mitt Romney and Bain Capital) sheds new light on the origin of Republican presidential candidate Mitt Romney's fortune, revealing how Romney's former firm, Bain Capital, used private equity to raise money to conduct corporate raids. Taibbi writes: "What most voters don't know is the way Mitt Romney actually made his fortune: By borrowing vast sums of money that other people were forced to pay back. This is the plain, stark reality that has somehow eluded America's top political journalists for two consecutive presidential campaigns: Mitt Romney is one of the greatest and most irresponsible debt creators of all time. In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth."
To watch the complete coverage of the Republican National Convention on this weekday independent news hour, read the transcript, download the podcast, search our vast archive, or to find more information about Democracy Now! and Amy Goodman, visit http://www.democracynow.org/
FOLLOW DEMOCRACY NOW! ONLINE:
Subscribe on YouTube: http://www.youtube.com/democracynow
Listen on SoundCloud: http://www.soundcloud.com/democracy-now
Daily Email News Digest: http://www.democracynow.org/subscribe
Please consider supporting independent media by making a donation to Democracy Now! today, visit http://www.democracynow.org/donate/YT