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Romney's Fishy Olympic Past Still Pays Off

Players in bribery scandal became big Mitt supporters

By Neal Colgrass,  Newser Staff

Posted May 14, 2012 5:45 PM CDT

(Newser) – We all know Mitt Romney ran a pretty good Winter Olympics in Salt Lake City 10 years ago. But few recall the bribery scandal that preceded him, or know that its major players have become significant Romney supporters, the Daily Beast reports. Businessman David Simmons, who pleaded guilty on tax charges connected to the scandal, and contractor Sead Dizdarevic, who made illegal payments to Romney's predecessors, have since given him up to $1.5 million.

The Beast focuses on Simmons, who dodged a multi-count felony indictment by pleading guilty to a misdemeanor, and got easy treatment when Romney refused to discuss the matter with reporters. Simmons' family businesses—which have deep ties to Utah's Mormon community—likely reaped a windfall from the Games that made Romney donations all the easier. Simmons admits he was "incredibly grateful" for Romney's effort to "save" the Olympics, but the Beast smells a whitewash: "If presidential campaigns are character tests, Romney’s starts in Salt Lake."

Mitt Romney pauses while speaking to a group of former Salt Lake City Olympics committee members, marking the tenth anniversary of the games, in Salt Lake City, Utah, Saturday, Feb. 18, 2012.
Mitt Romney pauses while speaking to a group of former Salt Lake City Olympics committee members, marking the tenth anniversary of the games, in Salt Lake City, Utah, Saturday, Feb. 18, 2012.   (AP Photo/Gerald Herbert)
In this Oct. 1, 2001, file photo Mitt Romney, president of the Salt Lake Organizing Committee, makes an announcement in Salt Lake City.
In this Oct. 1, 2001, file photo Mitt Romney, president of the Salt Lake Organizing Committee, makes an announcement in Salt Lake City.   (AP Photo/Douglas C. Pizac, File)
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COMMENTS
Showing 3 of 52 comments
Deleted
May 15, 2012 7:15 AM CDT
And here is Obama's fishy house deal. http://www.zillow.com/blog/2008-09-17/barack-obamas-chicago-house/ When you find an untainted politician, give me a call.
Antone123
May 15, 2012 6:16 AM CDT
The Tip Of The Ice Berg has now popped up and Rommey's corrupt business partners are now spotlighted.  What will the coming months uncover.
ladyrosedeky
May 15, 2012 1:40 AM CDT
I know a lot of people don't think his bullying back in high school have anything to do with him as an adult but when you consider what he did at Bain Capital it does. I am not an anti-capitalist as long as it is good capitalism. What Romney did for the most part at Bain wasn't good investment growth capitalism. It was destruction captialism. What he did at Dade Behring when Bain bought it in '94 was anything but honest or good capitalism. In the eight years they owned Dade Behring they made several large loans against the company. None of the loans went into research and development to help the company compete or put new product on the market. No, the loans went to pay him and Bain investors. Is that how you run a business? Take out large loans to pay yourself, the owners, and the investors? That's not how my stocks work. I've invested in a number of start ups over the years and didn't expect to make any money on the stock for a while. For example when I first invested in RFID chips when they were penny stocks. After eight years, Romney's practices at Dade Behring had put them into $1.5 billion in debt and in 2002 filed for bankruptcy. (Over a billion in loans didn't get paid back.) 2,937 lost their jobs And you know how Bain picks the bones of the carcus. In the end with how Bain played the system, technically legal fraud, they made 700% profit. Then there is the tragic story of GST Steel in Kansas City. The list goes on from there. And this is honest business practices? This is good venture capitalism? This is the man who knows how to solve our ecomomic problems? This is the man who claims he knows how to create jobs and get people back to work. Well, he sure knows how to destroy companies and destroy communities and people's lives - and there is nothing decent, honest, kind or nice about how he did it.
 

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