Jan 18, 2015

Romney's Next Big Bain Problem




Date: Fri, 16 Jan 2015 05:00:09 -0600
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January 16, 2015

 

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Romney's Next Big Bain Problem

By David Corn

In 2012, Mitt Romney's career as a businessman who earned many millions of dollars became a net loss, as political foes slammed him for running Bain Capital, a private equity firm that invested in US companies that downsized and shifted jobs overseas and that obtained financial stakes in foreign companies that depended on US outsourcing for profits. At the same time, Romney, who refused to do a full release of his tax returns, was hit with questions (he didn't answer) about mysterious personal investments in offshore accounts. Should he mount a third presidential effort, as he has told GOP funders he is considering, all of these issues are likely to return. But there's another matter that will be added to the pile of financial controversies for Romney to face: Solamere Capital, the $700 million private equity firm cofounded by his son Taggart that Romney has helped run since March 2013. Who has Romney been investing with, and what has he been investing in? These are questions that Romney 2016 will confront and that, no doubt, the firm will not want to answer. [READ MORE]

 

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GOP to Give Elizabeth Warren's Consumer Protection Agency the Darrell Issa Treatment

By Erika Eichelberger

Ever since Sen. Elizabeth Warren (D-Mass.) helped get the Consumer Financial Protection Bureau off the ground in 2010, Republicans have been trying to shut it down. GOPers drafted legislation to weaken the fledgling agency, which was designed to prevent mortgage lenders, credit card companies, and other financial institutions from screwing average Americans. The measure died. Republicans turned to the courts to gut the bureau. That effort failed. Now that Republicans control both houses of Congress, they have another weapon at their disposal: new subpoena powers they can deploy to blitz the CFPB with document requests. [READ MORE]

 

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THIS WEEK'S NEWS ROUNDUP

I Have Some Advice for Mitt Romney

David Corn and the Mother Jones DC bureau responded this week to multiple likely presidential runs—both Jeb Bush and Mitt Romney. Though Romney repeatedly said he wouldn't make a third run for the job since he last lost, he's conceded that it's possible—even likely.

Many questions still remain concering last week's Paris massacres, though it's clear that religious tensions dominated in France long before then. A German anti-Islam, anti-immigration group responded to the massacre with an "I told you so," and drew tens of thousands of people to its weekly Monday protest—fueling the fire for extremists who recruit disenfranchised youths. The Muslim hero who saved lives at the kosher market held up by one of the Paris attackers will now get French citizenship.

And the group behind America's biggest anti-abortion march is now at war with birth control, which apparently it thinks is a form of abortion. Happy Friday. [READ MORE]

 

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