instead of having bain buy it directly, they had an employee from bain buy the stock.ll of the money was wired directly to the personal account of a bain employee and lawyer working for bain, then paid off these russian investment firms in cash. that type of behavior serving as a straw buyer in the u.s. can be problematic. if i buy a car and give it to my brother, that is not a problem for it if i buy a house pretending to be my brother in order to get a loan he would not qualify for, that is considered fraud. having a straw buyer like that in order to mask and exchange that otherwise is illegal can be problematic. with bain dodging, there could be a case made that would not have been allowed in the end of its states. just look at the idea of representing yourself to be the buyer when you are buying on behalf of someone to get a lower price, some could make a case that would be wire fraud in the united states. >> how unusual was this kind of business conduct in russia at the time? how does bain's, compared to other companies operating in the country at the time that al

he told us so when he helped create bain. >> bain capital is an investment partnership which was formed to invest in startup companies and ongoing companies. then to take an active hand in managing them and hopefully five to eight years later to harvest them at a significant profit. >> we not only need to learn the lessons of freeport, we need to prevent it from happening again. democrats are trying to pass the bring jobs home act in congress. it would give tax incentives to companies bringing jobs back to the united states and end its tax breaks for those who are outsourcers. the bill was passed in the senate. it was passed in the senate, but the bill got, of course, another republican filibuster. now, how patriotic is it? the bill is exhibit a. in president obama's vision for america. the president understands why we can't surrender the middle class. >> when you think about the economy, i'm absolutely convinced when you look at the historical record that when middle class families do well, when there are ladders of opportunity for poor families to get into the immediately class, the i

romney's company, bain capital, controls sensata. bain's shutting down the plant and shipping the equipment and jobs overseas. workers have, been fighting the plant closure. workers sent us this video. sensata were told they could stay home if they felt threatened. they walked off the job in a show of solidarity. they call their town bainport. how appropriate? there are a lot of bainports all over the country. in fact, there are lots of towns and lots of workers who have been hit hard by romney's company and for what his vision for america is when it comes to the economy. mitt romney is an expert at closing companies and making a dollar. in fact, i would say he is a pioneer. let's take a look at the record. the "wall street journal" reviewed 77 of the businesses bain capital acquired while romney was in charge. 22% of them either went bankrupt, reorganized, or shut down. but while those companies were dying, bain investors were living it up, making a dollar. bain made 50% to 80% of its profits in holdings each year. romney profited w

port bain port dot com people can track it down on the internet but tell me about bain port what is this how did it come about and what's the status of it now. well there was a group of people that came to freeport to help the son sign the workers and to make. to make mr romney if that's possible contact them to try to stop this shipping of jobs overseas they stated a local hotel for two months and then they decided they were going to camp out at the student's account if your grounds and the mayor gave them permission so they have been camping in their sense of temper twelve tensile actually a wonderful place you can live there for a long time very comfortable it was fired. the atmosphere is really determined and has a lot of people there that really want to. make brownies see what's needs to be done have you gotten any feedback at all from the romney campaign or the romney family that mitt romney has seen the damage that his company and his policies that he put in place or are wreaking on you and your fellow workers and might have some concern for you. and i do have to clarify some

romney also has $8 million worth of bain funds, so when bain profits off of outsourcing, so does mitt meanwhile, sensata has released their third quarter financial statement. not the second. now the third quarter statement is out. we told you about the second quarter on friday night. now the third quarter shows they're doing just fine. sensata made more than $470 million in net revenue during the third quarter of this year, 2012. unfortunately, this number isn't good enough for the vultures over at bain capital. they're still shipping the sensata jobs to china, to the folks who will make maybe about $1 an hour. joining me tonight is leo gehrard, president of the united steelworkers international. mr. gehrard, good to have you with us tonight. the threats that are being made by the management of the bain, they actually came from the east coast and went to freeport, illinois, and met with the mayor and the police department and told them, this is the law of the land, is the way we see it. is this crossing the line? >> it absolutely is crossing the line. but let's not remember -- let's n

it's owned by bain. bain you'll remember, is the former employer of governor mitt romney.ney actually one of the founders of bain, as you well know at this point. here is a report on the conditions at the factory. >> the plant is shutting down, and their jobs, a total of 170 are moving to china. even though the company reported record profits last quarter. >> numbernovember 5th is scheduled to be my last day after 33 days. >> it is owned by bain company a company started by mitt romney although romney left pain seven years before they bought the freeport plant most of the people in this city, they're calling it bain-port they're is blaming mitt romney. >> this is ground zero to keep jobs here in the united states. >> you know, most of the employees are going to be out of work on november 5th. that's when they're out of work of the before thanksgiving. the plant is set to close on december 31st. happy new year. cenk uygur and "the young turks," we've been at this story all year. this is the story this past july before this story became immanent. >> what is happening here? w

owned dunkin donuts and richard who didn't who works at bain own burlington coat factory welcome to you both and i great to have you with us livia could you tell us what are you doing to new york and what is the bain worker bus tour while i'm in new york and being bus tours basically shedding awareness on what their romney economy looks like for me and my family. it's great being on a bus tour because i have a lot of a similar stories with people want to bring bias they don't work for dunkin donuts but they do work for being companies like burlington coat factory here send sada my friend marianne. and. we share the same stories like when i get in treated fairly we're not getting any benefits when i gain compas say they're for the work that we do and we're just basically out here trying to tell people that the romney economy is not a good thing for us and our families richard libya just mentioned we're we're out here illustrating what the bain economy looks like and talking with people about what the bain economy looks like what does that mean. will pretty much it just means there is

it what happened in freeport yesterday and is there any way to save these jobs before mitt romney's bain capital ships them off to china also later in the show we'll have a your take my take a live segment your chance to call in live in ask a question or make a comment on air to say he's doing to find out when to call in for your chance to be on the big picture. you need to know this besides trying to elect one of their own mitt romney to the white house the allegoric seven other trick up their sleeve this election and that's to make sure that their state taxes never go up their plan is carried out in the form of ballot measures often under the names of things like the taxpayer bill of rights laws it will appear at a handful of states on election day and are aimed at making it very difficult to raise taxes or eliminate loopholes used by rich people and corporations such measures are on the ballot in states like florida michigan and we're in washington state this year so imagine just for a second a law or even more bizarre an amendment to a state's constitution that just came right out an

when i found out that he owned bain capital and bain capital owned sensata i was furious. >> what dothink when you see him talk about american jobs on the campaign trail and talk about our economy yet this is happening? >> to be honest with you, he's a bold-faced liar. he's going out there saying i'm going to create american jobs when, no, he's not. he's profiting off of jobs going overseas. >> what was it like to have the chinese workers come learn to do the jobs that your workers were doing? >> it was hard. having to train somebody to take your job and you don't have any control over it, that was probably the hardest thing i've had to do. >> did they really take down the american flag and put up the chinese flag? >> they didn't put up the chinese flag. we put it across the street in bain port. >> what's going to happen to freeport, illinois? >> it's going to become a ghost town. that's one major company in freeport. we only have two sole big companies. and once this one goes down, i mean, it's going to be hard for anybody to find a job because there's nothing around there. >> norma

>> bain is working with british american tobacco.nment wasn't particularly interested in multi-national tobacco countries. they were interested in taking state owned communist resources and making them available to the public so they could be in the hands of market economy, giving the russians a take in their economy. what actually happened was the opposite all the russian assets ends up in the hands of the oligarchs. bain and company, in the first two years of this privatization project is doing 40% of all the sales in moscow and russia where the biggest deals are done, but thousands of these deals. then they leverage these contacts that the u.s. government has funded them with into sweetheart deals for big tobacco companies. >> of course mitt romney is a mormon and wouldn't smoke himself, but doesn't mind pushing it to hundreds of millions of russian. how did they advertise cigarettes to take off more. >> bain is really good as doing these very dry statistical market analysis. they go into russia with these top experts and performe

they have a role to play as well as bain. bain is operating with greed.g on the government policy that permits a shipment of jobs to china without workers in america having a fair chance. >> cenk: reverend jackson what would you have the government do specifically? >> number one if they intervene, given their investment, they can see how bad this is. it seems to be unfair we win the military building this war and losing the trade war. i ask them to play a role in the intervention. we cannot explain why plants closing, job leaving tax base eroding and people going from middle class to poverty with no place to go. there must be some help. these workers have done nothing but do their jobs well. >> cenk: what's the next step? the protest? >> we're going to insulate the protest tomorrow in freeport. more people might see. i think that bob king from the uaw will be there and gerard from the steelworkers. i think just as it was a showdown point for the right to vote. access, fast trade it may be freeport would be -- the point where we make a decision. should we

and bain capital was born.ner jeffrey rennart. >> well, it was a lot of long hours, a lot of late nights and a lot of learning but a lot of success. >> so what kind of a leader was mitt romney during those early years? >> i would say in the early years mitt was a lead-by-example kind of leader. he -- you know, he dug in, you know, did analysis side by side with us. >> and it paid off. bain capital invested in more than 100 companies, nearly doubling its returns for clients annually. >> how you doing? >> romney made a lot of money, and he would later claim created a lot of jobs. but a former bank colleague, who talked off camera about whether the company's emphasis was on job creation told cnn, quote, we were in the business of creating value for investors. >> was job creation or making money the goal? >> well, every business is organized to create a return for the people who invest in the business. and as businesses are successful and profitable, they're able to hire people. and they can hire more people the mo

" did some digging for today's paper it looked as 77 businesses bain invested in while romney led the firm. 22% of those companies either filed for bankruptcy or closed 8 years after the bain investment. >> jon: see, 22%! to 8% for the government. see? (cheers and applause) the government can't even get mitt romney at picking failures. let's take a look at one of romney's nonwinners, was a company called life like which received $2 million from bain, a personal loan from mitt romney himself, shortly before it went bankrupt, bain sold it, taking the company for $15,000. wow, $15,000 down from 2 million, that's a solid 99% return minus. why? what did life like make? >> now you can get your very own my twin at my twin.com. >> twice the fun, we have more fun. >> one of a kind my twin dolls. (laughter) >> jon: is it looking at me? why would mitt romney think anybody would want to buy a product so early close to yet so creeply far from human? why would mitt romney think that a perfectly sculpt-- settle down why would mitt romney think that a perfectly sculpt yet dead eye refugee from the is

it's the bain port story. it's big.t's next. [ male announcer ] what if you had thermal night-vision goggles, like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. >>> up next, in the big finish, the jobs going overseas to china, thanks to mitt romney. he won't do anything about it. it's a big story. leo gerard joins me next. don't forget, listen to my radio show on sirius xm radio channel 127 monday through friday noon to 3:00 and on progressive talk stations around the country. follow me on twitter @edshow and like "the ed show" on facebook. kinda blistery. like somebody had set a bag of hot charcoal on my neck. i was a firefighter for 24

it's the bain port story. it's big.s next. >>> up next, in the big finish, >>> up next, in the big finish, the jobs going overseas to china, thanks to mitt romney. he won't do anything about it. it's a big story. leo gerard joins me next. don't forget, listen to my radio show on sirius xm radio channel 127 monday through friday noon to 3:00 and on progressive talk stations around the country. follow me on twitter @edshow and like "the ed show" on facebook. we're right back. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. >>> tonight in our survey i 98% o

of technologies in freeport illinois i will shut its doors thank goodness thanks to mitt romney's bain capital and their love of outsourcing for workers this is saddam are not going quietly and they're doing all they can to bring attention to bain capital's all out attack on american jobs and later in the show we'll have your take my take live segment which is your chance to call in live and ask a question or make a comment on the air so stay tuned to find out when to call in for your chance to be on the big picture. you need to know this the global economy is watering out the international monetary fund cut its growth forecast for the world economy and warn that there is an alarmingly high risk of deep economic slowdown i.m.f. projections now show the global economy growing by a mere three point three percent this year the slowest growth since two thousand and nine is the i.m.f. says in its report confidence in the global financial system remains exceptionally fragile bank lending has remained sluggish across advanced economies with europe's economy contract in the united states heade

bain capital. of course bain capital no longer man ages bain today. would it surprise you to learn he owns stock in the company. he had at least enough stock in the company that he was able to transfer more than $200,000 worth of shares so a foundation that he controls. for more on the human cost i'm joined by freeport illinois mayor. thank you so much for joining us inside "the war room." >> thank you for the opportunity. >> let's just start with us how important are these jobs to the town of freeport? >> we have strides of retention of jobs in free port but when you have 170 jobs leaving our city, it negates everything we have created so hard to create opportunities for people in our community. >> jennifer: how big is freeport? >> 26,000. >> jennifer: so you have spent a lot of time with the workers from the plant, you spent a lot of time with them at their encampment? >> yes. >> jennifer: it is true they had to train their chinese replacements. >> yes, the current engineers were to train the engineers for china. >> jennifer: obviously that is diffi

he says he created 100,000 jobs as the ce ork as bain. he claimed he had no involvement with managing bain after 1999. but wait a minute. sec filings show him as the ceo and sole stake holder in the company for three additional years. now during those years, what happened? thousands of people were laid off in the bain companies while mitt romney profited. speaking of bain, romney says he's going to get tough on china as president if he's elected. even though his recent tax returns show that he was making investment money all from chinese internet companies accused of stealing american content. he says president obama apologizes for america overseas even though not a single transcript ever shows him apologizing. when mitt romney had a chance to weigh in on the international incident, what did he do? he accused president obama of sympathizing with american enemies. back here at home, romney says the stimulus did not create a single job even though the budget office says it created as 3.3 million jobs. we got more. president obama raised tax