Posted on 01/11/2012 4:51:32 AM PST by Cincinatus' Wife
Many have suggested that attacks on Mitt Romney's service at Bain Capital are attacks on capitalism itself. That is hyperbole at its finest from those who do not understand the business Bain Capital was involved in.
Mitt Romney was NOT primarily a venture capitalist. A venture capitalist invests in early-stage businesses with the hope that they grow and prosper. These early-stage businesses are often risky investments. Though most ultimately fail, some succeed spectacularly making the risks worthwhile. Apple Computer and Google are two such examples. This is what Mitt Romney means when he says some investments succeed and some fail.
By contrast, Mitt Romney was primarily what is affectionately known as a vulture investor........
The two core arguments for Mitt Romney's candidacy are (1) that he knows how to create jobs and (2) that he stands a better chance of defeating Barack Obama than his competitors. Is it true that a slash and burn vulture investor is the best advocate for job creation? If you were a factory worker in Ohio or Pennsylvania or the upper Midwest and Mitt Romney killed your job because there was a more efficient use of the capital employed in your factory, are you really going to listen to what Mitt Romney has to say even if you believe in hard work and free market capitalism?
No one is suggesting that Mitt Romney was evil or immoral or corrupt or criminal. If Mitt Romney had founded a business that did not rely on firing thousands of people as part of its business model, this issue would never have come up. Given that the focus of this election needs to be squarely on Barack Obama and his Marxist rhetoric and policies, it is paramount that Republicans not nominate a candidate that detracts from that.
(Excerpt) Read more at americanthinker.com ...
I don't understand why people can't see that.
Where do you get this ‘$180 million loan on a $30 million company’s assets’ from? What bank lends out that much unsecured debt (five times the company’s value)? What was the company, and when was the loan issued?
Watch the film that I posted to you on another thread. Romney is as dirty as they come.
Oh please. Teddy Kennedy used it against Romney in the campaign for Senator years ago. It is part of why he beat Romney. Primary voters have a right to vett the candidates. Better to know about it now, than to be surprised with it after he becomes the nominee.
If he can't explain it well enough to get Pubbies to vote for him, then he has no chance of explaining it well enough in the general to beat Obama.
The source of your film is not credible. It is political propaganda. Why not provide a news source instead. Think about it; what bank is going to offer an unsecured loan to a company that amounts to five times the total value of that company?
The news sources are waiting until Romney is the nominee.
You have a nice day.
Again, what is this the name of this company, and what bank gave that company an unsecured loan for five times its value?
I was actually being sarcastic there. ;-)
The main issue in this election is jobs, jobs, jobs. Romney claims that he will be able to create jobs better than Obama because of his experience in the private sector(Bain).
His record on job creation in Massachusetts was not so hot. The average voter is not going to be impressed with his actions at Bain after the Obama machine gets finished with his record there.
I don't care how right, necessary, or great it might have been, when so many people who are needing a job go to vote, I doubt they are going to vote for Romney and his methods, if his claim to fame is firing people to save the company, and leaving some companies for the taxpayers to bail out the pensions.
And part of the vote that the Republicans need to attract is the disenchanted, blue collar workers some of whom are members of the union. Attacking the unions while trying to attract the “Reagan Democrats” won't work too well either.
What Romney portrays as his strongest quality(ability to create jobs based on Bain capital experience) will be the albatross that defeats him, if he winds up the nominee.
In fact, he just went on record today stating that what he did at Bain capital was NO Different than what Obama did with GM!
So Obamanomics = Romneynomics, and Obamacare = Romneycare. BOHICA four more years, and kiss the senate good bye too and maybe the house.
Btw, Did you see Jim’s list of Romney’s “capitalism” ideas?
Romneycare
TARP
bailouts
taking over GM as a good idea
Obama’s $trillion stimulus package
mandates
Yup. That Romney is a stellar capitalist!”
Add another one. Today Romney stated that his actions at Bain were NO different than what Obama did with the auto companies. What Romney touts as his greatest electibility (ability to create jobs) just became an albatross, and will be the bane of his campaign, if he is the nominee.
Obamanomics = Romneynomics
BOHICA get ready for four more years. Romney can never defeat Obama now.
To me, they look like the same guy in a different suit.
I was actually being sarcastic there. ;-)
LOL. Really. With all the crap that is being posted today, it’s hard to be sure. LOL
Sigh. Romney did get a bailout.
http://www.nationalreview.com/exchequer/287927/no-bain-did-not-get-bailout
Please stop lying and stick with facts.
Next. Romney is the only candidate who has operated in the free market and who has risked capital to pursue his economic self-interest. Before you opine any further on free markets, please brush up on your Adam Smith, or F.A. Hayek, or Milton Friedman, or Thomas Sowell. Thanks.
http://www.nationalreview.com/exchequer/287927/no-bain-did-not-get-bailout
Please stop lying and stick with facts.
Next. Romney is the only candidate who has operated in the free market and who has risked capital to pursue his economic self-interest. Before you opine any further on free markets, please brush up on your Adam Smith, or F.A. Hayek, or Milton Friedman, or Thomas Sowell. Thanks.”
Several points:
1. First, thanks for the link, I have bookmarked it for
future reference.
2. Your first sentence says Romney DID get a bailout, but the article shows that to be a lie. Makes you look like the one that is lying. I was giving an opinion on how Dems will be able to use Bain against Romney.
3. I don't need to re-read The books you listed, and I do read Thomas Sowell. In addition, my parents and grandparents owned their own business, and I began working for them at the age of 13. My own career was for one of the largest companies in my state with multi-state and international offices.
4. I know exactly what a leveraged buy out firm is, and how they operate - the good, the bad, and the ugly. My company often took over rival, distressed companies, and I also survived several takeovers of our company and corporate downsizing, and I was in the finance department helping with the proforma projections.
5. I think you perhaps did not understand the whole point I was making. The point is that the Democrats (who will not be telling the truth) will be able to make this an albatross to hang around Romney's neck, and it is pretty complicated to explain to the average joe voter, especially the blue collar rank and file who tend to look at stuff through somewhat pro-union prism.
6. Now you and I know that Romney meant to say that he enjoys being able to choose which insurance company he uses and change, if they are not providing good service, but what he said was I like firing - that's a big gaffe in an economy that has so many unemployed, and the Dems already have an ad they have released, which I think is going to be pretty effective.
7. Also, no matter how great his reasons for what Bain did with the companies they bought, many voters are not going to UNDERSTAND and they are going to BELIEVE that his claim to fame is firing people and leaving companies so in debt that their survival in the long term was doomed, and then the pensions had to be covered - which they are going to THINK is a bailout.
8. To sum up my post was pointing out how negative his actual experience is going to APPEAR to lots of voters once the Obabma machine gets going. I hope that clarifies my post, sorry it was not clear enough for you to understand. If you can't see how their propaganda machine can spin this so that Romney loses, then go ahead and stick your head in the sand. It's a good position to take for BOHICA-4 more years. Sigh.
Romney is Mexican?
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