Bain Finally Admitted That They Talked To The Obama Administration About The Auto Bailout

finger point

It’s all over people — CNBC has been vindicated and Bain just admitted that a member of their staff did, in fact, speak to the Obama administration about the auto bailouts.

In case you missed the back and forth, last week CNBCs Eamon Javers reported that Bain was mentioned in a Treasury Department report about the auto bailouts. The report said that someone from Bain had given the administration advice. That prompted conservative bloggers to immediately pounce on Mitt Romney.

Bain, though, denied the report and demanded that CNBC take it down. They said that CNBC had to have been mistaken, or confused the “Bain” in the report was another firm.

So CNBC took the story down. 

The problem is, page 10 of the report clearly says Bain Consulting. Not only that, but the Treasury Department insisted in a statement, that they were referring to Bain of Romney fame and that their call to Bain had been very informal, but it was a call none-the-less.

Fast-forward to last night. Bain called CNBC and said that they had spoken to the Treasury, but only after CNBC provided the name of the partner that the Treasury had spoken with.

From CNBC:

A source familiar with the auto team’s efforts identified the Bain & Company partner who provided advice to the Obama team as Ted Rouse, of the firm’s Chicago office. According to Rouse’s bio on the Bain & Company website, he is the co-leader of the firm’s M&A practice with “specific expertise in merger integration.” According to the website, Rouse joined Bain & Company in 1982 and became a partner in 1988. He was the managing partner of the Chicago office for 10 years and led the firm’s industrial practice for several years. Rouse did not respond to emails and phone messages Tuesday. His office said he was travelling.