After 9/11, Mitt Romney invested in Endurance Specialty Holdings, a company designed to profit off the chaos that followed by the attacks. When Politicker first wrote about Mr. Romney’s investment in Endurance last week, Romney campaign spokeswoman Michele Davis told us the investment was part of Mr. Romney’s blind trust, which means he didn’t directly make the decision to invest in the company. However, upon further review, we realized that, though the holding has since been moved to Mr. Romney’s blind trust, he was directly responsible for his initial investment in Endurance.

Endurance Specialty Holdings was one of many startups that emerged in the aftermath of 9/11 to purchase debt from insurance companies who faced billions of dollars in claims after the attacks and to sell insurance at high prices generated by the soaring rates that resulted from this shock to the capital at traditional insurance companies. Mr. Romney was invested in Endurance Specialty Holdings via Golden Gate Capital, a private equity firm founded by a former Bain Capital executive in 2000 and through another investment fund, CCG Investment Fund, LP, which is related to Golden Gate.