Romney and Bain's wealth Built on Bailout

[Irish Stout]

http://www.rollingstone.com/politics...omney-20120829

I think the demand to see Romney's returns will skyrocket soon.

In fact, government documents on the bailout obtained by Rolling Stone show that the legend crafted by Romney is basically a lie. The federal records, obtained under the Freedom of Information Act, reveal that Romney's initial rescue attempt at Bain & Company was actually a disaster – leaving the firm so financially strapped that it had "no value as a going concern." Even worse, the federal bailout ultimately engineered by Romney screwed the FDIC – the bank insurance system backed by taxpayers – out of at least $10 million. And in an added insult, Romney rewarded top executives at Bain with hefty bonuses at the very moment that he was demanding his handout from the feds.

Read more: http://www.rollingstone.com/politics...#ixzz259RKz6jg

[DenverBrit]

This will get interesting.

[Play2win]

So, BAIN is a Socialist company, financed by the state!

LOL

[Smiling Assassin27]

Rolling Stone. The desperation is just too cute.

Google 'Spieckerman'

[DenverBrit]

Originally Posted by Smiling Assassin27

Rolling Stone. The desperation is just too cute.

Google 'Spieckerman'

The story is easily verified.....and if true, what are your thoughts?

[Requiem]

Smilin Assassin, ROFL. What a turd sucker.

[Play2win]

So, BAIN is a Socialist company, financed by the state!

LOL

[Irish Stout]

Originally Posted by Smiling Assassin27

Rolling Stone. The desperation is just too cute.

Google 'Spieckerman'

I don't know what the desperation is... they actually have a lot of the federal documents on their website that they relied on to write the article. I'll give you that the article is written from an "attack" perspective, but it appears to be 100% factual.

Also googled Spieckerman... took me awhile to figure out that you meant Lee Spieckerman. Read the rebuttal...didn't address the core premise of the rolling stone article, which is that Bain Capital relied on a bailout at the same time they were paying BIG bonuses.

[Irish Stout]

Here's the Lee Speickerman blog referenced earlier:

http://spieckerman.blogspot.com/2012...ted-obama.html

This "rebuttal" actually has nothing to do with the article this thread is about, but rather a separate OpEd piece in Rolling Stone attacking Romney's Greed. The article referenced in this thread is less OpEd and more actual journalism, uncovering a WHOLE lot of documents showing Bain took bailout $.

[L.A. BRONCOS FAN]

Originally Posted by Requiem

Smilin Assassin, ROFL. What a turd sucker.

He's not even good at deflection.

[Rigs11]

So wait he took gov money and introduced healthcare? Soshalist!

[L.A. BRONCOS FAN]

[GreasyQtip]

this is awesome. I would have come up with sso much reasoning against logic to make excuses for every single thing coming out. I am glad I do not have to just sit around with my only way to defend lies by saying "liberal media" with a smirk. Well I suppose arguing with your own logic comes easily to the religious majority. Go with your heart!

[L.A. BRONCOS FAN]

Government documents on the bailout obtained by Rolling Stone show that the legend crafted by Romney is basically a lie.

Even worse, the federal bailout ultimately engineered by Romney screwed the FDIC – the bank insurance system backed by taxpayers – out of at least $10 million.

And in an added insult, Romney rewarded top executives at Bain with hefty bonuses at the very moment that he was demanding his handout from the feds.

The Federal Bailout That Saved Mitt Romney | Politics News | Rolling Stone

Government documents prove the candidate's mythology is just that.

[nyuk nyuk]

This message brought to you by the Democratic National Committee.

I am Barack Obama and I approve this message.

Rolling Stone is a liberal rag. Dare I say they're bigger partisan hacks than Fox News, and by a long shot at that.

[Requiem]

Didn't know that government documents on financial bailouts were able to choose a political tendency. Learn something new every day.

[peacepipe]

If you can't dispute the facts attack the messanger.

[nyuk nyuk]

What I'm trying to figure out is how a red diaper baby with zero experience in the business arena is remotely qualified to do squat? May explain the debt problem?

[bowtown]

Originally Posted by nyuk nyuk

What I'm trying to figure out is how a red diaper baby with zero experience in the business arena is remotely qualified to do squat? May explain the debt problem?

You are being a little harsh on GW there, but I guess if the shoe fits...

[peacepipe]

Originally Posted by nyuk nyuk

What I'm trying to figure out is how a red diaper baby with zero experience in the business arena is remotely qualified to do squat? May explain the debt problem?

http://www.usnews.com/opinion/articl...ood-presidents

Successful business experience is the central rationale for former Gov. Mitt Romney's 2012 presidential campaign. To support Romney one must, at a basic level, believe that being good at business either generates experience or hones qualities that are likely to produce successful presidential leadership at a reasonably high rate. One assumes that the validity of this proposition is testable against the historical record. If Romney is correct, presidents with significant business experience should outperform those without—and this fact should be reflected in the presidential rankings that have been compiled by a bipartisan group of historians since 1948. If Romney is wrong, if business leaders perform as well or less well than the average, then business success is at best immaterial and may actually be detrimental to presidential leadership. In that case a core tenet of Romney's presidential candidacy evaporates.

[See a collection of political cartoons on Mitt Romney.]

We have had 20 presidents in the modern era (i.e., since 1900). Five of those had significant business careers before entering politics. Unfortunately for Romney, the results are not good for the businessmen.

None of the great or near-great presidents—Teddy Roosevelt, Franklin Roosevelt, Harry Truman, or Woodrow Wilson—was a businessman. Truman was a failed businessman (a haberdasher) before entering politics, but that hardly constitutes a ringing endorsement of Romney's claim for private sector ascendency.

For that matter, none of the better-than-average presidents was a businessman either. In this category think of Presidents John F. Kennedy, Dwight Eisenhower, Ronald Reagan, Lyndon Johnson, and Bill Clinton.

Probably the most successful president with real business experience (and success) was George H.W. Bush. Before going into politics he founded Zapata Petroleum, which ultimately became Pennzoil. Bush 41 ended up a one-term president unable to kick-start an economy in a recession and seemingly out of touch with the problems of the common man. Sound familiar?

It gets worse from here. Jimmy Carter, another one-term president beset with economic woes, was a success in agribusiness (peanut farming) before getting into politics. He generally falls into the lower half of the historians' rankings.

[Read about the 10 Worst Presidents.]

And then we get the big three—the men widely considered by historians to be the worst presidents of the modern era: Warren G. Harding, Herbert Hoover, and George W. Bush. One left the country on the verge of a depression, one left the country in a depression, and one presided over such corruption and ineptitude that despite the failings of the other two he still manages to get the lowest ranking of them all. And yet all three made millions of dollars in the private sector before entering politics. All three were successful businessmen (a newspaper publisher, a mining tycoon, and the owner of a professional baseball team). Bush 43 even went to Harvard business school, like Romney, and like Romney promised to bring business principles to the Oval Office.
With this kind of track record, maybe voters should apply some market principles to the core Romney Rationale and choose a different brand of dog food.

[TonyR]

Originally Posted by DenverBrit

...what are your thoughts?

As if that guy thinks. And he never responds when challenged. Just runs away and hides.

[TonyR]

Bain Capital. I guess Romney didn't build that!

[Requiem]

Originally Posted by nyuk nyuk

What I'm trying to figure out is how a red diaper baby with zero experience in the business arena is remotely qualified to do squat? May explain the debt problem?

[nyuk nyuk]

Originally Posted by peacepipe

http://www.usnews.com/opinion/articl...ood-presidents

Except that's subjective and I didn't ask for subjective opinion. Notice your link says OPINION ARTICLES?

[L.A. BRONCOS FAN]

Originally Posted by peacepipe

If you can't dispute the facts attack the messanger.

Exactly.

But what do expect from the DramaLlama in drag?