Romney Economics: The story of GST Steel

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Romney Economics: The story of GST Steel
from Obama 2012 Blog
“What [Mitt Romney’s firm] did was not capitalism, it was bad management. The decision-makers were governed by a different set of rules than the rest of us played by."



In 1993, Mitt Romney and his partners bought majority ownership of a 103-year-old steel mill in Kansas City, Missouri. Less than a decade later, GST Steel declared bankruptcy, and hundreds of workers were left without their jobs, their full pensions, and their health insurance. Yet somehow, Romney and his partners walked away with millions in profits.

http://www.barackobama.com/news/romney- ... -gst-steel