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Romney’s Bain Yielded Private Gains, Socialized Losses

By tovarichpeter   Follow   Sun, 15 Jul 2012, 7:49pm   449 views   5 comments
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http://www.bloomberg.com/news/2012-07-15/romney-s-bain-yielded-private-gains-socialized-losses.html

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1. iwog Follow Befriend (48) 274 threads 12,572 comments 47 male Lafayette, CA Premium

   1   8:48pm Tue 17 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Thanks to leverage, 10 of roughly 67 major deals by Bain Capital during Romney’s watch produced about 70 percent of the firm’s profits. Four of those 10 deals, as well as others, later wound up in bankruptcy. Romney was a 1980's era slash and burn corporate raider with a twist. Instead of using stock and hostile takeovers, he borrowed massive sums of money and simply bought companies off the shelf. Here's how Romney "created jobs". 1. Borrow up to 97.5% of the value of a corporation and buy it. 2. Force the company to accrue massive debt and funnel much of the money to Bain capital through fees and dividends. 3. Sell the company or take it public. 4. Watch as the company goes bankrupt or becomes crippled by massive debt. The article describes American Pad & Paper, which had $11 million of business debt in 1993, and $444 million in business debt in 1995 when Mitt Romney finished raping the compnay. It filed for bankruptcy shortly afterwards. Job creator eh?

2. Honest Abe Follow Befriend (41) 91 threads 1,806 comments

   2   5:33am Wed 18 Jul 2012   Share   Quote   Permalink   Like   Dislike (1)   Privatized gains (the political class) and socialized losses (the sheeple) - thats the definition of... GOVERNMENT.

3. iwog Follow Befriend (48) 274 threads 12,572 comments 47 male Lafayette, CA Premium

   3   6:25am Wed 18 Jul 2012   Share   Quote   Permalink   Like   Dislike   Honest Abe says Privatized gains (the political class) and socialized losses (the sheeple) - thats the definition of... GOVERNMENT. I figured you'd be too scared to actually comment on the topic of this thread. What do you think of Mitt Romney getting rich off of destroying corporations and jobs?

4. Honest Abe Follow Befriend (41) 91 threads 1,806 comments

   4   6:49am Wed 18 Jul 2012   Share   Quote   Permalink   Like   Dislike (1)   Bain Capital? Isn't that the same company oB'yomama is accepting contributions from for his re-election efforts? BTW, its not Romney or Bain thats destroying corporations and jobs - its the oppressive US government regulatory and tax structure thats doing that - all by itself. And I don't hear any outrage about oB'yomama's Jobs Czar, Jeffery GE - 11 Billion in earnings, ZERO IN TAXES, big submissive supporter of the regime.

5. iwog Follow Befriend (48) 274 threads 12,572 comments 47 male Lafayette, CA Premium

   5   6:56am Wed 18 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Honest Abe says Bain Capital? Isn't that the same company oB'yomama is accepting contributions from for his re-election efforts? BTW, its not Romney or Bain thats destroying corporations and jobs - its the oppressive US government regulatory and tax structure thats doing that - all by itself. And I don't hear any outrage about oB'yomama's Jobs Czar, Jeffery GE - 11 Billion in earnings, ZERO IN TAXES, big submissive supporter of the regime. Wow, total fail. You ran away even when directly challenged to comment on the thread. Mitt Romney raided corporations, borrowed millions in corporate credit to pay himself with, and left those companies for dead. This is a fact. Now what the fuck do regulations and taxes have to do with any of that? Be specific.