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January 9, 2012

Gingrich Accuses Romney of Looting Companies 
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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 and in essence, looted it. And then laid off
1,700 people. If that’s accurate, and there are three or four or five
examples, I think that’s troubling. 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. We 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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