Stop criticizing our benevolent job creators.
I don't advocate what Bain did. There were a lot of abuses and those guys made obscene amounts of money. Mix a company like Bain with a junk bond King like Milken at Drexel Burnham and somebody is damn sure gonna get screwed. No doubt Romney's a smart mother er, though.
Willard Gecko is a dumb mofo.
He probably hired smart lawyers and finance guys to do the gut/technical work. Willard Gecko probably stuck with the simple Big Picture negotiations.
You are completely full of Bou .
I don't like wasting my time on what is clearly a partisan hit piece.
I would encourage the people who lost their jobs to Bain Capital's parasitic practices to not vote for Romney. That's the best I can offer.
Frankly, I have no problem with a company that provides and 88% return on investments and can claim corporate successes such as Dunkin' Donuts and AMC theaters and Staples.
everyone here should go watch enron: smartest guys in the room
Your 2012 GOP Presidential nominee...
You're just pissed because there's a similar picture floating around of Obama with his homies. Well... Instead of flashing cash they have food stamps. But still...Your 2012 GOP Presidential nominee...
David Stockman, himself a erstwhile Blackstone wheeler dealer, pulls back the curtains and lays the wood to the Romney mythos:
http://www.thedailybeast.com/newswee...ain-drain.htmlBain Capital is a product of the Great Deformation. It has garnered fabulous winnings through leveraged speculation in financial markets that have been perverted and deformed by decades of money printing and Wall Street coddling by the Fed. So Bain’s billions of profits were not rewards for capitalist creation; they were mainly windfalls collected from gambling in markets that were rigged to rise.
Mitt Romney was not a businessman; He was a master financial speculator who bought, sold, flipped, and stripped businesses. (Charles Ommanney / Getty Images)
Nevertheless, Mitt Romney claims that his essential qualification to be president is grounded in his 15 years as head of Bain Capital, from 1984 through early 1999. According to the campaign’s narrative, it was then that he became immersed in the toils of business enterprise, learning along the way the true secrets of how to grow the economy and create jobs. The fact that Bain’s returns reputedly averaged more than 50 percent annually during this period is purportedly proof of the case—real-world validation that Romney not only was a striking business success but also has been uniquely trained and seasoned for the task of restarting the nation’s sputtering engines of capitalism.
Except Mitt Romney was not a businessman; he was a master financial speculator who bought, sold, flipped, and stripped businesses. He did not build enterprises the old-fashioned way—out of inspiration, perspiration, and a long slog in the free market fostering a new product, service, or process of production. Instead, he spent his 15 years raising debt in prodigious amounts on Wall Street so that Bain could purchase the pots and pans and castoffs of corporate America, leverage them to the hilt, gussy them up as reborn “roll-ups,” and then deliver them back to Wall Street for resale—the faster the better.
That is the modus operandi of the leveraged-buyout business, and in an honest free-market economy, there wouldn’t be much scope for it because it creates little of economic value. But we have a rigged system—a regime of crony capitalism—where the tax code heavily favors debt and capital gains, and the central bank purposefully enables rampant speculation by propping up the price of financial assets and battering down the cost of leveraged finance.
So the vast outpouring of LBOs in recent decades has been the consequence of bad policy, not the product of capitalist enterprise. I know this from 17 years of experience doing leveraged buyouts at one of the pioneering private-equity houses, Blackstone, and then my own firm. I know the pitfalls of private equity. The whole business was about maximizing debt, extracting cash, cutting head counts, skimping on capital spending, outsourcing production, and dressing up the deal for the earliest, highest-profit exit possible. Occasionally, we did invest in genuine growth companies, but without cheap debt and deep tax subsidies, most deals would not make economic sense.
"maximizing debt, extracting cash, cutting head counts, skimping on capital spending, outsourcing production, and dressing up the deal for the earliest, highest-profit exit possible"
but TB and ilk said Gecko was all about CREATING JOBS!TB
And Gecko swears he knows how to create jobs from his business experience.
Gecko, Ryan, Repugs, TOTAL FRAUDS, like nearly all the "pure" conservatives here.
I posted the OP, idiot. Unlike you, I can see various angles to a particular story/event."maximizing debt, extracting cash, cutting head counts, skimping on capital spending, outsourcing production, and dressing up the deal for the earliest, highest-profit exit possible"
but TB and ilk said Gecko was all about CREATING JOBS!
And Gecko swears he knows how to create jobs from his business experience.
Gecko, Ryan, Repugs, TOTAL FRAUDS, like nearly all the "pure" conservatives here.
It's called intellectual honesty, you ing hack.
Tell us again how many Bs of jobs Gecko created. And of course, please limit yourself to when Bain was the controlling owner, not some passive investor.I posted the OP, idiot. Unlike you, I can see various angles to a particular story/event.
It's called intellectual honesty, you ing hack.
I've already provided examples to back my premise. You were slapped into oblivion and, predictably, you tried to move the goal posts as well because you lack the cognitive ability to think critically.
and lol @ billions. Keep trying, bot.
Again, this is why nobody at ST takes you seriously.
TB
TB can't see "Bs" as prosaic licence with "exaggeration for the effect of ridiculing TB"
TB, true believer, aka faith-based fantasy, in all things Bain and Gecko/Ryan
lol at getting slapped again and hiding in a huge straw fort.TB
TB can't see "Bs" as prosaic licence with "exaggeration for the effect of ridiculing TB"
TB, true believer, aka faith-based fantasy, in all things Bain and Gecko/Ryan
Pathetic. ing coward.
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