Romney Started Bain Capital With Money From Families Tied To Death Squads

Just when you think Bain Capital can't possibly become a bigger headache for Mitt Romney another shoe falls.  This time it is reports that Romney founded Bain Capital with funding from Central American families with ties to death Squads.  A column in Huffington Post makes the argument that Romney - unless he's a total idiot - had to have known that he was dealing with some not so nice folks.  But time and time again, making a buck (and avoiding taxes) is Romney's true passion in life and that he'll do whatever it takes to make a profit.  Even if it includes closing his eyes to evil. (NOTE: For the record, I'm not anti-Central America; my mother was born in Honduras and I likely have Honduran citizenship myself.  I just have a real problem with those who put money ahead of all else).  Here are some column highlights:

When Romney struggled to raise funds from other traditional sources, he and his partners started thinking outside the box. Bain executive Harry Strachan suggested that Romney meet with a group of Central American oligarchs who were looking for new investment vehicles as turmoil engulfed their region.

Romney was worried that the oligarchs might be tied to "illegal drug money, right-wing death squads, or left-wing terrorism," Strachan later told a Boston Globe reporter, as quoted in the 2012 book "The Real Romney." But, pressed for capital, Romney pushed his concerns aside and flew to Miami in mid-1984 to meet with the Salvadorans at a local bank.

It was a lucrative trip. The Central Americans provided roughly $9 million -- 40 percent -- of Bain Capital's initial outside funding, the Los Angeles Times reported recently. And they became valued clients.
"Over the years, these Latin American friends have loyally rolled over investments in succeeding funds, actively participated in Bain Capital's May investor meetings, and are still today one of the largest investor groups in Bain Capital," Strachan wrote in his memoir in 2008.

"I owe a great deal to Americans of Latin American descent," he said at a dinner in Miami in 2007.   .  .  .  . 
Romney could also have thanked investors from two other wealthy and powerful Central American clans -- the de Sola and Salaverria families, who the Los Angeles Times and Boston Globe have reported were founding investors in Bain Capital.

While they were on the lookout for investments in the United States, members of some of these prominent families -- including the Salaverria, Poma, de Sola and Dueñas clans -- were also at the time financing, either directly or through political parties, death squads in El Salvador. The ruling classes were deploying the death squads to beat back left-wing guerrillas and reformers during El Salvador's civil war.

The death squads committed atrocities on such a mass scale for so small a country that their killing spree sparked international condemnation. From 1979 to 1992, some 75,000 people were killed in the Salvadoran civil war, according to the United Nations. In 1982, two years before Romney began raising money from the oligarchs, El Salvador's independent Human Rights Commission reported that, of the 35,000 civilians killed, "most" died at the hands of death squads. 

When The Huffington Post asked the Romney campaign about Bain Capital accepting funds from families tied to death squads, a spokeswoman forwarded a 1999 Salt Lake Tribune article to explain the campaign's position on the matter. She declined to comment further.

"Romney confirms Bain had investors in El Salvador. But, as was Bain's policy with any big investor, they had the families checked out as diligently as possible," the Tribune wrote. "They uncovered no unsavory links to drugs or other criminal activity."  Nobody with a basic understanding of the region's history could believe that assertion.

By 1984, the media had thoroughly exposed connections between the death squads and the Salvadoran oligarchy, including the families that invested with Romney. The sitting U.S. ambassador to El Salvador charged that several families, including at least one that invested with Bain, were living in Miami and directly funding death squads.

The connection between the families involved with Bain's founding and those who financed death squads was made by the Boston Globe in 1994 and the Salt Lake Tribune in 1999. This election cycle, Salon first raised the issue in January, and the Los Angeles Times filled out more of the record earlier this month.
There is no shortage of unsavory links. Even the Tribune article referred to by the Romney campaign reports that "about $6.5 million of $37 million that established the company came from wealthy El Salvadoran families linked to right-wing death squads."

Jeffery Paige, author of "Coffee and Power: Revolution and the Rise of Democracy in Central America" and a professor at the University of Michigan, has studied the political economy of Central American oligarchies. Romney's claim to have checked out the backgrounds of the families and come away satisfied befuddles Paige.

As Romney now seeks support from the Latino community in his campaign for president, his knowledge of Bain's all-too-few degrees of separation from Salvadoran death squads may become a topic of interest.

There is a great amount of detail on just how dirty Romney's investor buddies were and how no one with their eyes open could not have known what was going on.  But for Mitt Romney, making money and supporting the wealth trumped all else.  Personally,  I don't the man has changed one bit.