For those who think Romney is the answer...

Discussion in 'What's On Your Mind?' started by nachtnebel, Aug 30, 2012.

  1. nachtnebel

    nachtnebel Original Member

    Take a look at Matt Taibi's piece in the rolling stone mag. (For those who don't know who Taibi is, he's a financial columnist who writes for that company, and a fairly astute one, coining such memorable phrases such as "Goldman Sachs, the great vampire squid fastened on the face of America".) It paints a picture of exactly how Romney ran Bain Capital as owner and decisionmaker, buying companies, extracting as much money as possible by forcing the acquired companies to take out large loans , from which Bain siphoned all the loan proceeds into Bain and then left the company to go bankrupt or forced it to close factories and lay off people. Extremely socially irresponsible. It's not a pretty picture of the "man" who would be president.

    This pretty much confirms that while we are screwed with Obama, we are NOT getting a white knight (pardon the symbolism) in Obamney.
    KrazyKat likes this.
  2. Mike

    Mike Founding Member Coach

    Consider the source, the article is mostly rambling hatchet job. I gave up after 3 of 5 pages.

    Case in point: It whines that companies subjected to leveraged buyouts end up in bankruptcy, then admit that only 7% do. That's not a large percentage.

    Hopefully someone who can do a coherent analysis will also address the subject during the election.
  3. FWIW, here's a list of Romney's top PAC contributors:

    IMO it speaks volumes.
  4. RB

    RB Founding Member

  5. RB

    RB Founding Member

    From 2008:

    Barack Obama (D)

    Top Contributors

    This table lists the top donors to this candidate in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organizations' PACs, their individual members or employees or owners, and those individuals' immediate families. Organization totals include subsidiaries and affiliates.
    Because of contribution limits, organizations that bundle together many individual contributions are often among the top donors to presidential candidates. These contributions can come from the organization's members or employees (and their families). The organization may support one candidate, or hedge its bets by supporting multiple candidates. Groups with national networks of donors - like EMILY's List and Club for Growth - make for particularly big bundlers.
    University of California $1,648,685
    Goldman Sachs $1,013,091
    Harvard University $878,164
    Microsoft Corp $852,167
    Google Inc $814,540
    JPMorgan Chase & Co $808,799
    Citigroup Inc $736,771
    Time Warner $624,618
    Sidley Austin LLP $600,298
    Stanford University $595,716
    National Amusements Inc $563,798
    WilmerHale LLP $550,668
    Columbia University $547,852
    Skadden, Arps et al $543,539
    UBS AG $532,674
    IBM Corp $532,372
    General Electric $529,855
    US Government $513,308
    Morgan Stanley $512,232
    Latham & Watkins $503,295
  6. Mike

    Mike Founding Member Coach

    Looks almost like the same list :)
    phoebepontiac likes this.
  7. RB

    RB Founding Member

    I didn't find a more recent list for Obama. Would be nice to see who has shifted funds and to which camp.
  8. My husband, who keeps close daily track of these things, told me last week that there was a big shift in donations toward Romney. If I can find his source I will post it.
  9. Not what I was looking for, but here's an interesting list I found:

    KrazyKat likes this.
  10. nachtnebel

    nachtnebel Original Member

    Yes, that's Taibi's shtick. Evil, horrible Wall Street. But, these days, probably somewhat deserved. He's been backed up by less vitriolic financial people in his other anti Sachs/JPM Chase rants though. I think the main point is spot on though. Bain Capital, like other arbitragers, had/still has the goal of squeezing out whatever it could get from its target firms. That's how arbitrage works. It's not about building a business. It's about taking over businesses that in their opinion is undervalued and taking that difference for themselves. This is not a Larry Page/Sergey Brin thing where something has been built up by the founders' vision.

    Still, this cretin is better than the other idiot who is running.
  11. Mike

    Mike Founding Member Coach

    I'm not totally convinced -- Obama may be more of an Obamination ideologically but easier to contain politically. He doesn't have the Clintonistas' uncanny ability to triangulate and always come out on top.
  12. Elizabeth Conley

    Elizabeth Conley Original Member

    Yep. That's the creepiest part of the whole election.
  13. RB

    RB Founding Member

    The way I see it, and it doesn't really matter which side you support, either Obama will retain office or Rommney will gain office. All we as individual voters can do is to make the best call we can. We have lost any chance of getting third party candidates in position to win so we have to go with what we have.

    Take you best shot and take what comes.
    phoebepontiac likes this.
  14. Frank

    Frank Original Member

    I've been saying all along it's one party with two faces, both evil. A friend calls it the Boot On Your Neck Party.
    barbell likes this.
  15. KrazyKat

    KrazyKat Original Member

    “There is only one party in the United States, the Property Party … and it has two right wings: Republican and Democrat.”
    Gore Vidal
    Elizabeth Conley likes this.
  16. KrazyKat

    KrazyKat Original Member

    The essence of the piece is unmasking the much-heralded "business experience".

    Taibbi is responsible for one of the greatest lines of our generation, in full:

Share This Page