Mitt Romney's Federal Bailout: The DocumentsHighlights from the records of the FDIC's rescue of Bain & Company
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Despite Bain's censorship, the FDIC documents detail the surprising failure of the 1991 restructuring of Bain's finances engineered by Romney. The documents also illuminate, for the first time, the reckless measures that Romney resorted to in order to secure a lifeline from the federal government.
This excerpt of a 1992 analysis for the FDIC offers a recap of what was supposed to happen when Romney took charge and renegotiated Bain's debts in June 1991.