Posted on 01/11/2012 1:45:23 PM PST by Lakeshark
Politico has a story about Newt agreeing not to go after Romney any more about Bain, and Newt was just on Hannity’s radio show on the issue. (I’ll post the audio if I can get it.)
Newt said there are three or four instances where the record is really bad and Romney needs to defend it. Newt said the challenge is not to the model but how Romney acted in specific instances, and how odd it is that Romney runs on his business record but doesn’t want to discuss the record.
Newt made the point that it is impossible to discuss the issue without being accused of class warfare by people trying to protect Romney, but the issue will come up if Romney is the nominee without knowing how much it would hurt Romney.
Newt did not back away from the issue, but said he is moving on.
You know my position. Newt is making a purely political decision to move on. Once he lost Rush and Hannity on the issue — wrongly I believe — it no longer was politically tenable.
So we will go through the primary process and possibly nominate someone with a potentially devastating electability problem. The electablility problem will not go away, we just will not find out how bad it is until September and October 2012.
So add Bain to the list of things we cannot discuss, for fear of being labeled anti-capitalist. Along with Jeremiah Wright, for fear of being called racist.
It happens every election, but the Republicans never learn.
First they “select” the candidate they want us to nominate based on who will be easiest to destroy in the general election, then they cozy up to their “favorite” to help him through the nomination process — and incidentally destroy any actual Conservative who might get too popular...
THEN, once “their” guy is safely nominated, the rip off their masks, whip out their knives and shred the nominee with carefully saved and honed attacks.
They did it with Dole, they did it with McCain, they’re doing it with Romney.
Sigh...
They don’t call Republicans the “Stupid Party” for nothing.
Back during the Bain Capital time, I think the term was corporate raider. They would burden a company with large amounts of debt, and usually many pink slips.
Starting with a false premise will not result in an accurate conclusion.
BUMP POST $49
“Lately, Bain founder and GOP presidential candidate Mitt Romney has found himself in a spirited defense of the private equity industry, doing all he can to spin decades of data which confirm, without failure, that PE Leveraged Buy Outs are nothing but “efficiency maximizing” transactions whose only goal is the “maximization” of EBITDA in the pursuit of dividend recap deals, IPOs or outright sales, while loading up the company with untenable amounts of leverage. All this with a 3-5 year investment horizon, which ignores the long-term viability of a company and seeks to streamline (read fire as many as possible) operations as quickly as possible in the goal of maximizing short-term returns. We wish him luck in his endeavor.”
It may not be exactly pump and dump. But it is for all intents and purposes a legal form of pumping up a company in order to dump it. He and Bain did it dozens of times.
Very few of their investments where turn around endeavors. Most where a way to clean up the books for a quick IPO or sale while loading up dept and emptying the company of all the cash. Lots of it through ‘consulting fees’ paid to Bain by the very companies they where looting. All of it legal, most of it unethical and imoral.
Good luck to Romney, the establishment GOP and the idiot RINO’s like Rove trying to defend him against Obama and the MSM juggernaut. I for one will only reluctantly vote for Romney. I will not make calls, go door to door, or even put out a sign for him. I have too much personal integrity.
There is a reason why He has gotten a free pass from the MSM and GOP Establishment. He is the least likely to beat Obama and if he does he won’’t do a Damn thing to upset the business as usual apple cart in DC.
BTW I also have a business degree and two decades of work in business.
Isn’t “minion” a :::teenie, teenie::: little onion?
We like them at Thanksgiving, baked au graten. “;^)
Have a look at post #85.
http://www.freerepublic.com/focus/news/2831605/posts?page=85#85
” Newt made a stupid attack from the left and he got called out for it.”
Newt’s attack was legit, like it or not.
“language he uses and his superpac commercials are something right out of the Obama campaign”
Romey himself said today Newt was right...!! Even Romney compared what he did to Obama’s bailout of the auto industry.
“Newt made this personal, he’s a political animal, been around the block many times and should know better and he will pay a price, IMO.”
Can you blame him for making it personal. He has been attacked and savaged by “our” own conservative media, Rush included.
“Rush has been critical of Romney too and has voiced support for Perry, Santorum and Bachmann as well as Newt”
Not to the extent that Rush has savaged Newt....!
There was never a government bailout of any of the 240 companies Bain invested in or acquired. There was one instance when Bain acquired a faltering GS Steel and the pension fund had already been depleted so that the Federal Pension Guaranty was on the hoof to guarantee the assets to the union employees. Bain during the acquisition did not assume the liability for the already depleted pension fund. No sane equity investor is going to take on that water. The Bain offer to the owners factored in the fact that they would not be assuming the liability of the previous owners with respect to the depleted pension fund.That liability would remain with the previous owner. A perfectly valid negotiating point. Bain restructured the company, held it for a few years, tried to make a go of it but the union was recalcitrant and the company went under. So the Federal Pension Guaranty kicked in and covered the employees pension shortfall. Bain did not profit from the Pension Guaranty as those funds went to the employees.
“In an election year where the economy is the most important issue, do you really want to tip voters off that Mitt Romney has quite a bit of success at saving jobs in the private sector?”
Oh? How many? Source, please. NOT Bain or related to...that would be VERY unusual to have a net gain. Let’s see those numbers and I might vote for the bastard myself. But you won’t.
Who needs the democratic party when i give you the republican establishment. Rush and Shaun are doing a disservice to the conservative movement by asserting newt as being "anti-capitalist" and "using the language of the left" to attack Romney. Romney has alot to answer for. Watch him duck this issue.
Very good link. Newt explains why Romney’s business model is NOT what we want and need in a president. I don’t know how he could explain it any more clearly.
Good grief. Do you even know what Bain & Co. does?
“Obama will run with this and obama will get four more years.”
Are you suggesting the libs wouldn’t have “run with this” the minute...no....the SECOND .... Mitt was the nominee? Please.
“Good grief. Do you even know what Bain & Co. does?”
No, no idea. I’se too stoopid.
Again, Newt proves he is a much better teacher than Rush on this issue.
Those who denounce Newt on this (and some other issues) are themselves guilty of class-warfare and using the "language and methods of the left" to attack him. And it's done by supposedly "conservative" media and pundits who can't allow somebody other than them to be even for a moment "the smartest man in the room."
Newt is the last person to engage in class-warfare, unlike Romney and Santorum, yet it's he who is being accused of it. Newt made the point that it is impossible to discuss the issue without being accused of class warfare by people trying to protect Romney"
See more on this at: http://www.freerepublic.com/focus/f-news/2831668/posts?page=33#33 - FR / TH, post #33, Right wing rips Gingrich, Perry for attacks on Romney, capitalism (Rush, WSJ), 2012 January 11
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