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Romney’s Bain Yielded Private Gains, Socialized Losses

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posted on Jul, 16 2012 @ 01:35 AM
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Mitt Romney touts his business acumen and job-creation record as a key qualification for being the next U.S. president. What’s clear from a review of the public record during his management of the private-equity firm Bain Capital from 1985 to 1999 is that Romney was fabulously successful in generating high returns for its investors. He did so, in large part, through heavy use of tax-deductible debt, usually to finance outsized dividends for the firm’s partners and investors. When some of the investments went bad, workers and creditors felt most of the pain. Romney privatized the gains and socialized the losses. What’s less clear is how his skills are relevant to the job of overseeing the U.S. economy, strengthening competitiveness and looking out for the welfare of the general public, especially the middle class.


bloomberg.com...

I wonder how this type of "capitalism" makes our country and our economy better. You don't have to be a genius to do what he did while he was at Bain. Looks to me like a big corporate ponzi scheme. I wonder why Romney gets so sensitive when this issue of Bain comes up.
edit on 16-7-2012 by Bunch because: (no reason given)




posted on Jul, 16 2012 @ 02:00 AM
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reply to post by Bunch
 


Don't forget this part...very important since no sources are given;;;;;;


(Anthony Luzzatto Gardner works at Palamon Capital Partners, a private equity fund based in London, and was director of European affairs in the U.S. National Security Council in 1994-95. The opinions expressed are his own.)



"The opinions expressed are his own."



posted on Jul, 16 2012 @ 02:09 AM
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ahhh GM



posted on Jul, 16 2012 @ 02:36 AM
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Okay, Romney isn't great. In fact he's pretty much a scumbag. However, he's a traditional, nationalistic and capitalist scumbag politician. Whew...there was a mouth full. In other words, Romney is pretty much what we've have in our nation going back to all who followed Washington. Some were better....some were worse..and Romney won't be a record breaker for good things done, I'm sure.

We're comparing Romney's faults to someone who embraces socialism for the United States Presidency though? A Man who just recently said no one makes it by their own work? Wow... Romney would have to grow horns, red eyes and a clear tail out the back of his slacks before I'd start considering him as worse.

Heck. I'd vote for Hillary in a heartbeat if she flipped and slammed her Boss...and I really really don't like Hillary. Obama is just THAT BAD. So.. Nope.. Romney sure isn't perfect. If this is the best Obama can do though, he needs to understand, making money is not a sin to most of America. Bashing Romney for doing it makes him look like a fool and a communist.



posted on Jul, 16 2012 @ 02:59 AM
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reply to post by timetothink
 


I understand that... But the articles does raise some questions about the kind of deals that where taking place when he was managing the firm. Romney says that Bain is the reason that gives him experience, well I don't like that type of experience.



posted on Jul, 16 2012 @ 03:02 AM
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reply to post by Wrabbit2000
 


Is funny because I feel just the way you feel but reverse.



posted on Jul, 16 2012 @ 03:09 AM
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Originally posted by Bunch
reply to post by Wrabbit2000
 


Is funny because I feel just the way you feel but reverse.

You know, that's what gives America the extreme energy right now. To look at the last half dozen Presidential elections, it's quite fair to say the nation is roughly split between two extremes with shades outward from the middle. Precious little shading before the solids of each side though.

I'm not noting right or wrong, because each side sure does think the same of the other. It's just the polarization and how extreme it's become. In the early 90's as I came old enough to vote, this level of hate and outright bitter divide wasn't even starting yet. Nowhere remotely like this. It's exciting but scary....TOO much emotion and passion for politics. Entirely too much.



posted on Jul, 16 2012 @ 03:15 AM
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reply to post by Wrabbit2000
 


I'm not the biggest or toughest, but I will fight until I have bone splinters coming from eyes and my heart explodes. I'm not the most intelligent or savvy, but I've spent countless sleepless nights and weekends cooped up getting through law school.

I thought that was the American way, our unyielding fight and relentless spirit. But so many just want to roll over and legitimize the lesser evil, to settle on our leader and that of the free world. As if you're defeated or were never for the fight to begin with.

Not me. I'm a mother#er.



posted on Jul, 16 2012 @ 02:52 PM
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reply to post by lives
 

You sound like precisely what America needs to recover when we finally hit bottom and begin looking back up the well we've fallen down. You and millions more with the same attitude. I say that, fully aware that we're likely on very different sides of politics by the look of it. Who cares?? We can settle political details IF we all ever get that far. It's what I desperately tried to convey to Occupy.....

We need to fight bad policy, ideas and the specific individual people who have directed this to happen. We need to fight FOR ideas, concepts and goals that give America what we all believe it needs. To find common ground, lets just say strength without arrogance and power without tyrants.


Again...Lets all find a way to work together from the right..and left...and get there. We can duke out liberal and conservative later. I'll be happy enough to dance a jig just getting that far.

.......and to topic, Obama taking the whole nation into the black swamp of endless attack and "He's worse than I am! Nyah Nyah!" is about as self-defeating a path as I can imagine our nation on.



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