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Romney spent a quarter century in the private sector after earning dual degrees from Harvard's law and business schools. First a top official for the business consulting company Bain & Company, Inc., he later founded the investment firm Bain Capital, where he largely made his personal fortune and last drew a regular paycheck. He left the private sector for good in 1999, when he took over the financially troubled winter Olympics in Salt Lake City. He wasn't paid for three years, having vowed not to take a paycheck unless the games finished in the black. They ultimately did, and his campaign says Romney was compensated after their conclusion. The transition into the political world had begun with the 1994 Senate race but was cemented by the 2002 governor's race, which he won, serving one term from January 2003 to January 2007. Romney began positioning himself for a run at the White House before the end of his term and formally announced his candidacy a month after leaving the governor's office. Since 1993, he has raised more campaign dollars than the vast majority of the nation's politicians
-- including his rivals in the Republican presidential primary -- and used that money to build a network of support in key early voting states. Even putting his gubernatorial race aside, public records show that Romney raised $134 million between his 1994 Senate race, 2008 presidential bid, his Free and Strong political action committee and current presidential campaign. That number will grow once Romney's campaign releases updated figures for the fundraising quarter that ends Friday.
Romney has used his campaign accounts to make friends in the political world. Even though he wasn't on any ballot in 2010, his political action committee spent $8.7 million over the last two years by sending cash to state and local Republican candidates in key states on the presidential primary calendar. In that two-year period, no politician's political action committee raised more money than Romney, who was second only to South Carolina conservative powerhouse Sen. Jim DeMint, according to the Center for Responsive Politics. Romney's political history isn't lost on skeptical conservatives. Said Ana Puig, the Pennsylvania-based co-chair of the Kitchen Table Patriots: "Perhaps he thinks he can now pretend not to have been a part of the system for so many years in order to get tea partiers on his boat."
[Associated
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