Jon Stewart Dissects Mitt Romney’s Hypocrisy Over Bain Capital Credentials (VIDEO)

Jon Stewart celebrated Mitt Romney’s Florida win with another eye opener. He broke down Romney’s private sector credentials (specifically ‘Bain Capital’) on The Daily Show.

Just because Bain Capital sounds like a ‘Batman villain’ doesn’t mean it is an evil corporation, right?

Jon Stewart in his characteristic style gave Romney the benefit of doubt and decided to throw light on some of Bain’s best buyouts. E.g. the contact lens business that Bain revamped and made $300 million profit from. But when he dug deeper into Bain’s credentials Jon found out that not all the companies that Bain ‘helped’ were as lucky.

For instance, Dade International. Dade International went bankrupt after Bain bought it out. But what’s interesting is that Bain still made $345 million dollars.

“They get it anyway?” Stewart asked, confused, as he tried to understand and explain leveraged buyouts -- you know, that thing where you buy a company with borrowed money and then use the company's assets as collateral to pay yourself back (more than you owe) and sacrifice the company to the lenders.

Sounds uneasy? Of course it is! But that is not all that surprised Stewart. What is far more surprising is a video piece that Stewart shows, where Romney himself is advocating against the same thing on the same scale at a campaign rally. The contradiction and hypocrisy is rather mind boggling. “Mitt Romney's pitch to Americans: Elect me as your President! I have 25 years business experience doing something this country should never, ever do.” – Jon Stewart.
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