Rolling Stone Exposes Bain and Romney...

[Article 15]

A great article on how Mitt Romney really made his money. Screwing working folks and leaving others with the bill.

And this is where we get to the hypocrisy at the heart of Mitt Romney. Everyone knows that he is fantastically rich, having scored great success, the legend goes, as a "turnaround specialist," a shrewd financial operator who revived moribund companies as a high-priced consultant for a storied Wall Street private equity firm. But what most voters don't know is the way Mitt Romney actually made his fortune: by borrowing vast sums of money that other people were forced to pay back. This is the plain, stark reality that has somehow eluded America's top political journalists for two consecutive presidential campaigns: Mitt Romney is one of the greatest and most irresponsible debt creators of all time. In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth.



Read more: Greed and Debt: The True Story of Mitt Romney and Bain Capital | Politics News | Rolling Stone

I read the piece last night.

The moral of the story is never lend Bain money.

 

[RoadVirus]

So....how does the Rolling Stone explain some of the success stories courtesy of Romney/Bain like Staples?

 

[IHBF]

So what they are saying is that Romney understands how business works and was a very successful businessman.

Awesome! Sounds like the kinda guy we need to clean up Obama's (who knows nothing about business) mess.

 

[Vel]

Here's the telling paragraph...

Once all that debt is added, one of two things can happen. The company can fire workers and slash benefits to pay off all its new obligations to Goldman Sachs and Bain, leaving it ripe to be resold by Bain at a huge profit. Or it can go bankrupt – this happens after about seven percent of all private equity buyouts – leaving behind one or more shuttered factory towns. Either way, Bain wins. By power-sucking cash value from even the most rapidly dying firms, private equity raiders like Bain almost always get their cash out before a target goes belly up.

So you would prefer that 100% of the businesses in trouble NOT be rescued by venture capitalists and go bankrupt?

 

[blastoff]

You idiots have been playing the Bain game for weeks now. How's it working out for you? No worries though as there's plenty of other non-issues to swing at and miss, again. And again and again likely. You know, the insanity thing you're working to perfect.

 

[Truthmatters]

Its the mans whole business record you fool

 

[Avatar4321]

So in other words, they are absolutely lying and thats why you like the article.

Please point out what they got wrong in the article.

I'm still reading it, but it's really kind of the stuff that people who actually studied Bain have known for years.

The claims of exploitation. Purely nonsense. No one is exploited when a business risks capital to save other businesses. Nor does anyone else pay off your debt when you borrow money. You can't force others to do that.

So the whole premise is wrong. It be nice if you stopped lying about Bain does and actually looked at their contributions to the economy.

 

[Truthmatters]

So....how does the Rolling Stone explain some of the success stories courtesy of Romney/Bain like Staples?

profit only motivations.

why cant you get that one

 

[Truthmatters]

Robmomey is a corporate raider.

that is a fact

 

[Avatar4321]

Corporate Raider Definition | Investopedia


Definition of 'Corporate Raider'
An investor who buys a large number of shares in a corporation whose assets appear to be undervalued. The large share purchase would give the corporate raider significant voting rights, which could then be used to push changes in the company’s leadership and management. This would increase share value and thus generate a massive return for the raider.

Read more: Corporate Raider Definition | Investopedia

In other words, they buy failing businesses and turn them around for a profit. Which is clearly evil because we should just let companies fail rather than allow others to fix them and create jobs.

 

[Avatar4321]

Also known as legal piracy.

Oh so pirates now help failing businesses turn themselves around?

 

[Avatar4321]

So....how does the Rolling Stone explain some of the success stories courtesy of Romney/Bain like Staples?

Explain them? They dont have to explain them. They just make stuff up

 

[koshergrl]

How dare business ventures profit someone! Scandalous!

What complete leftist hooey.

No. Wrong. Doing. This chapter is finished.

 

[Katzndogz]

Bain became a very successful company because it was a success and performed in turning these failing businesses around. Not because it gained a reputation for forcing marginal companies into failure.

 

[Avatar4321]

So you would prefer that 100% of the businesses in trouble NOT be rescued by venture capitalists and go bankrupt?

Precisely. They would prefer 100% of the businesses Bain serves go bankrupt, those people lose their jobs, and Bain make no profit, than they would that only 20% of the businesses Bain serves go bankrupt, people keep their jobs, and Bain make a profit.

 

[Avatar4321]

Its the mans whole business record you fool

Yeah. Taking failing businesses and turning them into thriving ones is his whole business record. It's precisely his ability to take failing institutions and revive them that makes him so valuable as a Presidential Candidate because our nation is failing and we need someone experienced there to turn it around.

So please continue talking about his whole business record. It's just going to bury Obama.

 

[emptystep]

I'm still reading it....

Rolling Stone in one hand...

Jerking off to Obama pictures with the other hand...

So you're saying that Rolling Stone is good if you don't read it but just look at the pictures?

 

[GoneBezerk]

Rolling Stone....a joke of a news source.

Rolling Stone....a stoner, drug addict magazine that glorifies people in the music business that make millions and many times ruin their lives buying tons of crap and drugs.

Yeah, a credible news source of poor drug addicts that hate rich Mormons.....

 

[initforme]

Those who were laid off in this process. If they collect unemployment for a long time they are called leeches and "living off of the gov't". Again middle classers taking it on the chin. There is a place for class warfare and these people are living it.

 

[Truthmatters]

Its the mans whole business record you fool

Yeah. Taking failing businesses and turning them into thriving ones is his whole business record. It's precisely his ability to take failing institutions and revive them that makes him so valuable as a Presidential Candidate because our nation is failing and we need someone experienced there to turn it around.

So please continue talking about his whole business record. It's just going to bury Obama.

Corporate Raider.

The driving force was not jobs it was CASH.

quit pretedning he was doing missionary work.

That is NOT what caplitalism is about is it