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Gingrich Accuses Romney of Looting Companies

HeadlineJan 09, 2012

Mitt Romney’s record heading up the private equity firm Bain Capital is coming under increasing scrutiny. On Sunday, Newt Gingrich accused Romney of looting the companies bought out by Bain.

Newt Gingrich: “The article apparently outlined in detail that Bain Capital acquired a company, in essence, looted it and then laid off 1,700 people. Now, if that’s accurate, and if there are three or four or five examples like that, I think that’s troubling. I don’t think—those of us who believe in free markets and those of us who believe that in fact the whole goal of investment is entrepreneurship and job creation would find it pretty hard to justify rich people figuring out clever legal ways to loot a company, leaving behind 1,700 families without a job.”

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