Mitt and the junk bond king

[Dick Tuck]

Big surprise. Romney did business with convicted felon, Michael Milkin.

Mitt and the junk bond king

The Obama campaign has criticized the deal as showing Romney’s eagerness to make a “profit at any cost,” because workers lost jobs, and challenged Romney’s assertion that his business background best prepares him for the presidency. Romney, meanwhile, once referred to the deal as emanating from “the glorious days of Drexel Burnham,” saying, “it was fun while it lasted,” in a little-noticed interview with American Banker magazine.
The “glorious” part, for Romney at least, was that he used junk-bond financing to turn a $10 million investment into a $175 million profit for himself, his partners, and his investors. It marked a turning point for Romney, according to Marc Wolpow, a former Drexel employee who was involved in the deal and later was hired by Romney to work at Bain Capital.

 

[The Rabbi]

Big surprise. Romney did business with convicted felon, Michael Milkin.

Mitt and the junk bond king

The Obama campaign has criticized the deal as showing Romney’s eagerness to make a “profit at any cost,” because workers lost jobs, and challenged Romney’s assertion that his business background best prepares him for the presidency. Romney, meanwhile, once referred to the deal as emanating from “the glorious days of Drexel Burnham,” saying, “it was fun while it lasted,” in a little-noticed interview with American Banker magazine.
The “glorious” part, for Romney at least, was that he used junk-bond financing to turn a $10 million investment into a $175 million profit for himself, his partners, and his investors. It marked a turning point for Romney, according to Marc Wolpow, a former Drexel employee who was involved in the deal and later was hired by Romney to work at Bain Capital.

Wow, desperation.
Milikin was a major force on Wall Street. Everyone doing that kind of business in that era did something with Miliken. Nothing illegal, unethical or immoral here.
Now, you want to talk about Tony Reznik, we might have something.

 

[OohPooPahDoo]

Republicans love aristocracy.

 

[The Rabbi]

Republicans love aristocracy.

I wouldn't consider Miliken aristocracy.

 

[OohPooPahDoo]

Republicans love aristocracy.

I wouldn't consider Miliken aristocracy.

Anyone who can fuck people out of 400 million dollars and only do 2 years has some connections. A lot of folks get longer than that for stealing televisions.

 

[The Rabbi]

Republicans love aristocracy.

I wouldn't consider Miliken aristocracy.

Anyone who can fuck people out of 400 million dollars and only do 2 years has some connections. A lot of folks get longer than that for stealing televisions.

Arguably he didnt commit any crimes at all.
Is there a point here?

 

[OohPooPahDoo]

I wouldn't consider Miliken aristocracy.

Anyone who can fuck people out of 400 million dollars and only do 2 years has some connections. A lot of folks get longer than that for stealing televisions.

Arguably he didnt commit any crimes at all.
Is there a point here?

I wasn't aware his guilty plea was withdrawn.

 

[The Rabbi]

Anyone who can fuck people out of 400 million dollars and only do 2 years has some connections. A lot of folks get longer than that for stealing televisions.

Arguably he didnt commit any crimes at all.
Is there a point here?

I wasn't aware his guilty plea was withdrawn.

I'm sure there's lots you're not aware of.
I'm not aware why this thread exists. So what? It is an attempt of guilt by association. And a pretty damn lame one at that.

 

[OohPooPahDoo]

Arguably he didnt commit any crimes at all.
Is there a point here?

I wasn't aware his guilty plea was withdrawn.

I'm sure there's lots you're not aware of.
I'm not aware why this thread exists. So what? It is an attempt of guilt by association. And a pretty damn lame one at that.

Guilt by association? I forget only right wingers are allowed to do that.

...it is part of a larger pattern of associating with people who are basically antiAmerican. And that's everyone from Bill Ayers to Rev Wright to Michelle to a bunch of left wing think tank ex radicals and communists like Van Jones.

I wonder how Obama can justify having advisors like Rev Wright and Bill Ayers on his staff.

Obama is in bed with Bill Ayers, an American terrorist responsible for killing people.
Deal with it.

Was there ever? I mean, this is a president who did all he could to cover up his past and refused to come clean on even the most obvious things, like his friendship with terrorist Bill Ayers.
The only thing changed is the public perception of Obama.

That would Obama's old pal, Bill Ayers, the guy in whose living room he announced his candidacy for president.

 

[Dick Tuck]

I wouldn't consider Miliken aristocracy.

Anyone who can fuck people out of 400 million dollars and only do 2 years has some connections. A lot of folks get longer than that for stealing televisions.

Arguably he didnt commit any crimes at all.
Is there a point here?

He was tried and convicted. You can argue that he didn't commit any crimes all you like.

 

[Dick Tuck]

Arguably he didnt commit any crimes at all.
Is there a point here?

I wasn't aware his guilty plea was withdrawn.

I'm sure there's lots you're not aware of.
I'm not aware why this thread exists. So what? It is an attempt of guilt by association. And a pretty damn lame one at that.

I guess it depends on the depth of the association. Mitten's certainly delved deep to make his department store LBO give him more than a 10X return on his investment, start up Bain, and have the department stores go belly up, because they were too straddled with debt.

It doesn't really matter if what Mitt did was illegal or not, it certainly shows that Mitt became very comfortable with the strategy of "Busting Out" a company for personal gain. To me that's unethical business, usually practiced by organized crime.

 

[OohPooPahDoo]

Anyone who can fuck people out of 400 million dollars and only do 2 years has some connections. A lot of folks get longer than that for stealing televisions.

Arguably he didnt commit any crimes at all.
Is there a point here?

He was tried and convicted. You can argue that he didn't commit any crimes all you like.

Pled guilty actually

 

[Dick Tuck]

Arguably he didnt commit any crimes at all.
Is there a point here?

He was tried and convicted. You can argue that he didn't commit any crimes all you like.

Pled guilty actually

Same thing. He was charged with felonies, and plead guilty as charged.

 

[OohPooPahDoo]

He was tried and convicted. You can argue that he didn't commit any crimes all you like.

Pled guilty actually

Same thing. He was charged with felonies, and plead guilty as charged.

You said he was TRIED and convicted. Guilty plea means no trial.

 

[editec]

Republicans love aristocracy.

I wouldn't consider Miliken aristocracy.

Ya' got that right.

Milken made it on real merit!

Miliken was an upstart from City College who invented the junk bond model
that fueled the purchase and aquisitions insanity of the 80s.

He was apparently a bloody genius.

Sadly, he couldn't resist the siren call of making money at any cost and became the INSIDER TRADING king.

Rab, did you know that the last insiders trading scam Miliken got involved with was with the Justic department?


Yip, in order for Miliken to pay the giantanic fines that were levied on him, the Justice department and Miliken didn't let the PUBLIC KNOW that he'd been busted until he could unwind his own finanical positions such that he had enough dough to pay off those fines.

Naturally the public who still trusted Miliken lost a fortune when the news of his having been busted was finally release.

Ironic, no?

 

[Dick Tuck]

Pled guilty actually

Same thing. He was charged with felonies, and plead guilty as charged.

You said he was TRIED and convicted. Guilty plea means no trial.

Go nickel and dime with Rabbi. I'm not into nit picking whether a guilty plea is one possible outcome of a trial.

I'd prefer, in this case, to take a hard look at what Mittens and Milkens concocted, that put tens of millions of dollars into the Bain startup, in spite of that department store conglomeration going belly up, while Mittens learned to play "bust out."

 

[OohPooPahDoo]

Same thing. He was charged with felonies, and plead guilty as charged.

You said he was TRIED and convicted. Guilty plea means no trial.

Go nickel and dime with Rabbi. I'm not into nit picking whether a guilty plea is one possible outcome of a trial.

Huh? No trial. Guilty plea only. Not sure what this has to do with nickel and diming anyone.

 

[Dick Tuck]

You said he was TRIED and convicted. Guilty plea means no trial.

Go nickel and dime with Rabbi. I'm not into nit picking whether a guilty plea is one possible outcome of a trial.

Huh? No trial. Guilty plea only. Not sure what this has to do with nickel and diming anyone.

A plea is one of the first phases of a trial.

 

[OohPooPahDoo]

Go nickel and dime with Rabbi. I'm not into nit picking whether a guilty plea is one possible outcome of a trial.

Huh? No trial. Guilty plea only. Not sure what this has to do with nickel and diming anyone.

A plea is one of the first phases of a trial.

Having been charged with a felony myself at one point, I can assure you that is incorrect.

 

[editec]

No interest in the fact that in order to PUNISH Miliken for INSIDER TRADING, the Jusitce department and Miliken were INSIDER TRADING themselves, then?

Seriously? The CONSPIRACY to defaud the public between Miliken and the Justice department doesn't mean anything to the partisans here?

Nothing at all?