Mitt Romney Started Bain Capital With Money From Families Tied To Death Squads

[Judi Lynn]

70. Families of Bain Capital's original investors had ties with El Salvador's infamous death squads

Wed Aug 08, 2012 at 01:09 PM PDT.

Families of Bain Capital's original investors had ties with El Salvador's infamous death squads

by Meteor Blades

When Mitt Romney decided to take up the offer to launch Bain Capital in 1983, he initially found financing difficult to come by. And so, after some initial misgivings were conveniently overcome, he flew to Miami to meet with some Salvadorans. And he returned with pledges of $9 million, 40 percent of Bain's start-up capital. Thus did the Bain buccaneer lay the foundation for his fortune.
The families of some of those investors had ties to the death squads that plagued El Salvador at that time. Ryan Grim and Cole Stangler at the Huffington Post are the latest reporters to take on the story of those investors, following on the heels of reporting by Joseph Tanfani, Melanie Mason and Matea Gold at the Los Angeles Times in mid-July, by Justin Elliott at Salon in January and by Mitchell Zuckoff and Ben Bradlee Jr. at the Boston Globe in August 1994.

When Romney first sought the presidency in 2007, he was back in Miami, and he took note of those early investors:

"I owe a great deal to Americans of Latin American descent. When I was starting my business, I came to Miami to find partners that would believe in me and that would finance my enterprise. My partners were Ricardo Poma, Miguel Dueñas, Pancho Soler, Frank Kardonski, and Diego Ribadeneira."

More:
http://www.dailykos.com/story/2012/08/08/1117948/-Families-of-Bain-Capital-s-original-investors-had-ties-El-Salvador-s-infamous-death-squads?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+dailykos%2Findex+%28Daily+Kos%29