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GST Steel | Romney Economics

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leftofabbie

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GST Steel | Romney Economics | Mitt Romney's private sector record


Kansas City’s GST Steel was a successful company that had been making steel rods for 103 years when Mitt Romney and his partners took control in 1993. They cut corners and extracted profit from the business at every turn, placing it deeply in debt. When the company eventually declared bankruptcy, workers were denied their full pensions and health insurance, and the federal government was forced to step in and bail out the pension fund.
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Romney Economics | GST Steel

Wells Fargo Insiders Detail Foreclosure Fraud Practices:

GST Steel: Bankruptcy and bailouts


Kansas City’s GST Steel was a successful company that had been making steel rods for 103 years when Mitt Romney and his partners took control in 1993. They cut corners and extracted profit from the business at every turn, placing it deeply in debt. When the company eventually declared bankruptcy, workers were denied their full pensions and health insurance, and the federal government was forced to step in and bail out the pension fund.​


This was Rmoney's MO at Bain. Borrow against the company's assets (pension funds mostly), reap huge personal profits, let the company go bankrupt, screw the employees on their pensions, stick the taxpayers for making up the portion of the pension that will still be paid.

And people really want this corporate predator as President? Amazing how effective the mass media is a fooling the People.
 
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