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To: chuckee; xzins
Our objective was neither noble or nefarious. It was profit and the nobility of saving and creating jobs is oftimes the byproduct of the purest form of free enterprise that Bain and the investment firm I worked for practiced.

I'm in real estate. I started buying junk in bad neighborhoods. I chased out the families that wanted to live like garbage, the criminals and the gangs. I rehabbed the buildings refinanced and then later sold them. I guess in our new lexicon I'm an evil capitalist that threw families out on the street. Of course no one wants to talk about the families that moved in and enjoyed having a nice safe place to live.

362 posted on 01/14/2012 12:59:11 PM PST by wmfights
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To: wmfights; chuckee; P-Marlowe
I'm in real estate. I started buying junk in bad neighborhoods. I chased out the families that wanted to live like garbage, the criminals and the gangs. I rehabbed the buildings refinanced and then later sold them. I guess in our new lexicon I'm an evil capitalist that threw families out on the street. Of course no one wants to talk about the families that moved in and enjoyed having a nice safe place to live.

Your example isn't complete, Wm, to apply to the issue with Bain.

For it to be somewhere near applicable, you'd have to add the story of getting a false appraisal of the property, borrowing a million based on that, paying "friends" extravagant fees for services rendered that consumed the lion's share of the borrowed money, and then filing bankruptcy with your shell corporation so that no one gets stuck with paying back the lender of the money.

Add that and the story is similar.

369 posted on 01/14/2012 2:13:30 PM PST by xzins (Vulture Capitalism is Crony Capitalism on Crack)
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