- Posted August 11, 2012 by
Mt. Gilead, Ohio
This iReport is part of an assignment:
Romney's Record At Bain Not False !
More is becoming known about Romney's relationship with Bain, and he can no longer claim he wasn't a "vulture capitalist" that made millions exploiting others and the environment. Romney who says when elected,he will rollback environmental regulations similar to the Reagan era idea of "Voodoo Economics" where deregulation was a big part of that failed economics plan, and a leading cause to today's Wall Street collapse, and under regulated financial system caused by Reagan's deregulation under Greenspan. In a recent article written by Jack Gillum of the Associated Press, titled, "Steel Mill Town Polluted as Romney Firm Profited" presents another look at how Romney has been part of the problem that led America down the road of economic collapse through the actions of some capitalists that have become known as "Vulture Capitalist." Vulture capitalist are individuals that exploit the system often breaking laws, environmental regulations, and their own employees to funnel dollars into their pockets at any cost, often leaving a mess behind for others to live with and have to cleanup... Romney is one of those vulture capitalists !!
In Georgetown, S.C., Romney as Bain's CEO acquired and ran the steel mill there, not only did the mill pollute the entire town, the red dust it was putting in the air was a health hazard especially for those with long exposure to. The steel company was sued by many in the town and became a class action lawsuit. However, despite a judgement in their favor the town and it's people were left to cleanup the mess left behind. Romney and Bain walked away with $30 million in profits from a town they drove businesses out of because they left the town permanently stained in "red dust." Romney also conveniently beat feet to go help a troubled US Olympics to give the impression he had left Bain as the steel mill business Romney and Bain ran collapsed right behind Romney's quick exit. However, it has now been confirmed by other Bain members that Romney retained his CEO status with Bain and regularly met with other corporate heads. Even if Romney only acted as an advisor during those meetings he was still involved with Bain and profiting from their "vulture capitalist-type dealings."
Many sources have pointed to the fact that Romney has been part of the problem because he represents what is wrong in a large part of corporate America today... make money at all costs and don't worry about the damage left behind. Its cheaper to settle a lawsuit or pay the fines while your making money hand over fist exploiting the system by walking the fence between the fine line of legal and illegal activity... the first rule of "Vulture Capitalism." Vulture capitalism a path to eventual economic disaster from exploitation and a contaminated environment no longer of use to anyone or thing.