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Rev Moon's Washtington Times, as fair and balanced as Fox Repug Propaganda network.
What private equity and LBO predators do is easy, and well known: making money for investors trumps everything, no matter what damage it takes.
LOS ANGELES, May 24, 2012 – President Obama insisted recently that Governor Mitt Romney's work at Bain Capital is what the 2012 election is all about. What Mr. Obama still fails to admit is that he and his campaign shills have absolutely no idea what Bain Capital actually does, or what Mitt Romney actually did.
http://communities.washingtontimes.c...erals-still-d/
I must confess that I am guilty of talking out my ass from time to time. Thought this article was interesting.
Rev Moon's Washtington Times, as fair and balanced as Fox Repug Propaganda network.
What private equity and LBO predators do is easy, and well known: making money for investors trumps everything, no matter what damage it takes.
Boutons:
ad hominem attack + economic ignorance = Wild Cobra's copy in Bizzaro World.
The article pretty much sums you up.
This post is rich in Vitamin I
lol thinkprogress
For an article about people who don't know what Bain is/does/did it is remarkably short on details on what Bain is/does/did. If the author really did know,he did a very poor job of explaining it.
I would say most people, liberal or conservative, have next to no idea what Bain is/was/did.
I've done a fair amount of reading on Bain. The article's conclusions are reasonable.
I enjoy Tom Tomorrow. But the panels should be led: "This Stawman World".
meh, sort of.
It pooh-poohs anything that might be even mildly criticized and lionizes all venture capitalists as job creating angels.
The truth is not as nice as he would like it to be. It is not as bad as Dems are making it out to be, but there is some genuine grounds for criticism, especially in regards to the leveraging and pump and dump that happened in a couple of occasions.
It seemed to miss the mark.
Overly simplistic pablum for the converted.For those angry at Mitt Romney while pretending to understand what he actually did, remember that three question test.
Do you know anything? Do you know how to do anything? Have you ever done anything?
Of course not. So please sit down, be quiet, and stop attacking capitalism and wealth creation. Being poor is bad. Being ignorant is worse. Being both are contagious, and the spread of that disease has already destroyed Europe.
The cure is so simple. America needs more people with capital who have the guts and desire to venture.
Capitalism can do no wrong, and anybody who dares to say otherwise is just ignorant.
Bull .
I think he was taking a summary approach where, on balance, the plus outweighed the minus.
The article is vague, generic fluff piece defending "capitalism" and asking for balls for venturing.
Bain, and LBO predators, are always the wealthy aggressor, the hungry hyena after weaker companies, hardly ballsy actions.
They load up the companies up with debt, suck out $Ms in fees from the loan capital, and leave company to pay back the crushing debt out of operations.
Last edited by boutons_deux; 05-24-2012 at 12:57 PM.
No more overly simplified than Bain being nothing but a coorporate raider who was looking to load up debt and fire employees.
See Boutons_Deux above.
"Bain being nothing but a coorporate raider who was looking to load up debt and fire employees."
you forgot WHY they do it: to pay themselves, as owners, $10Ms in fees, which serious "capitalistic mananagement" in for the long run would invest in improving the company.
Very similar to: "the best way to rob a bank is to own one".
I would agree.
There definitely seem to be a few cases where the companies got genuinely plundered and driven into bankruptcy, but I wonder how much Mittworthington knew about it or had anything to do with it.
The other debt holders certainly got a forced haircut in the bankruptcy.
Yeah, I went there.
IMO Bain is not something that Obama should use to attack Romney or something Romney should use to demonstrate why he'd be a great president. He ran a private equity fund and made an ass ton of money doing it. A private equity fund CEO has completely different responsibilities than the president.
With all the genuine and reasonable discussion over whether or not Romney's Bain Capital involvement is a plus or minus, it seems odd for Obama to double down and claim the entire campaign is going to be about it.
"the plus outweighed the minus"
for whom?
No matter what happens to the takeover target, the takeover fund pockets fees, usually with large profits for their investors, which is their only priority and how fund investors are attracted and retained.
I'm leaning Obama at this point and I agree it is stupid. Romney's decision making regarding employee layoffs when he has promises with investors he needs to keep is irrelevant to what his decision making would be as a president.
So far, Gecko is only pointing to his Bain experience as to why he is qualified as a successful businessman to manage the US economy (in reality, he will faciliate the 1% as it continues to plunder the US economy and Human-Americans).
Gecko doesn't mention anymore MA health plan, because conservatives hate him for succeeding at "socialism" and govt programs to MA's benefit.
What else is Gecko running on, other that blatant lies easily exposed as lies?
And he says he wants to be like Slick Willie? holy !
Last edited by boutons_deux; 05-25-2012 at 09:43 AM.
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