More Fiscal Magic from Bain Capital
"Ampad, an ultimately bankrupt company backed by Bain ...laid off all 250 workers at an Indiana factory it purchased in 1994 and added debt to its rolls for years after.
The company went into bankruptcy in 2000, holding a debt load of more than $400 million. Bain's return on its $5 million investment was $100 million.
Out of a debt load of $170 million owed to unsecured creditors, Ampad ended up paying out less than $330,000, the filings show
If Obama and the Democrats do not make this THE central issue of this campaign, they are total failures as politicians. Here, written small, and twenty years early, is the exact recipe for what caused the collapse of the American economy under the leadership of the last Republican president. Mitt Romney is a poster child for the savaging of our economy by the hyper-rich, and it takes one hell of a lot of nerve for the Republicans to foist him, of all people, off on us as the solution to our problems.
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