David Stockman On Mitt Romney: 'He Was A Master Financial Speculator'

That Mitt Romney had a successful tenure as CEO of Bain Capital doesn’t mean he’ll be able to turn the economy around, according to an ex-Reagan budget director. Instead, he says, it’s just evidence that the financial system is rigged,

In an op-ed in The Daily Beast, David Stockman argues that the Romney campaign’s refrain is “dead wrong" -- the refrain being that the Republican candidate is prepared to help the sputtering U.S. economy because he transformed struggling companies and created jobs. Instead, Stockman says, it’s “crony capitalism” and central bank help that’s made gambling on failing companies a relatively safe bet.

“Mitt Romney was not a businessman,” he wrote. “He was a master financial speculator who bought, sold, flipped, and stripped businesses.”

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