It seems that back in 1991, while Mitt Romney was CEO of Bain Capital, the Bank of New England went bankrupt and later in 1993 it was forced to liquidate, but not before the FDIC tried to rescue the bank with a 'bailout' costing some $10 million. Anyway, it turns out that Bain Capital was one of the bank's debtors and at the time was delinquent on something like $4 million worth of loans (this was apparently where some of the 'start-up' money came from that Romney used to help launch Bain Capital in the mid 80's) . As part of the 1993 FDIC rescue, this loan was 'forgiven', which in essence made Romney and his buddies at Bain Capital $4 million RICHER (by reducing their outstanding liabilities by that same amount).
So from Romeny's point of view, federal bailouts are ONLY bad when they benefit someone other then Mitt Romney and his friends:
http://fightforbetterus.blogspot.com/2012/01/bain-of-mitt-romneys-campaign.html
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