Debt Creator: Mitt Romney Didnt Build That, But Sure As Hell Did Destroy It.

[evildevil]

Greed and Debt: The True Story of Mitt Romney and Bain Capital
How the GOP presidential candidate and his private equity firm staged an epic wealth grab, destroyed jobs - and stuck others with the bill

The great criticism of Mitt Romney, from both sides of the aisle, has always been that he doesn't stand for anything. He's a flip-flopper, they say, a

Comments

[hammersxstrings]

tl;dr for right now...but just wanted to say, I love Matt Taibbi's pieces. always fun to read.

[brother_dour]

Read it when you can. This is possibly the biggest, most compelling proof that Mittens is a terrible, morally-corrupt person that I have yet seen.

[hammersxstrings]

i got a chance to. it's good...it's all correct, though, right? I didn't see too many sources? I believe him, don't get me wrong, but I made the mistake of reading some of the comments (i know, stupid, on the internet) but I was just wondering...

[brother_dour]

I'm absolutely amazed that anyone would call Dubya a "mature politician" O_O

[moonshaz]

Or a "mature" anything! ;D

[bushy_brow]

Barry Ritholtz, author of Bailout Nation, says the criticisms of Bain about layoffs and meanness miss a more important point, which is that the firm's profit-producing record is absurdly mediocre, especially when set against all the trouble and pain its business model causes. "Bain's fundamental flaw, at least according to the math," Ritholtz writes, "is that they took lots of risk, use immense leverage and charged enormous fees, for performance that was more or less the same as [stock] indexing."

So, what I'm getting from this is, not only is Mittens a sociopath, but a particularly sadistic type of sociopath. Because frankly, this reads like the rich man's version of a kid burning ants under a magnifying glass. :-/

[moonshaz]

It sure does. UGH.

[bushy_brow]

"I could stay home and rest on my stock portfolio and earn 30%, or I could ruin a bunch of lives and earn 30%. I think I'm gonna have to go with ruining a bunch of lives! Muahahahaha!!!"

Granted, he couldn't have known ahead of time that the return would only be 30%, but I'm really starting to think the money was irrelevent and he was just in it for the carnage.

[blackjedii]

Then in 2000, right before Romney gave up his ownership stake in Bain Capital, the firm targeted KB Toys

YOU ABSOLUTE HEARTLESS, THIEVING BASTARD.

THAT WAS MY HAPPY PLACE.

[romp]

My wife saw someone on FB saying she was going to vote for Romney because of the economy. I guess the idea was that he ran a corporation so he will succeed in running the US.

But surely most Repubs have heard how Bain worked. He took over companies, drained them of money, and then left the corpse (and unemployed workers). He pillages for his own gain without regard for others. If he were to do that in the US, the people of the US would be those who suffer! Do all Repubs who support him think they're at the inner circle and will be among the few who get their share of the booty?

[angelus7988]

I think it's a combination of thinking that bad things don't happen to good people and not being too particular about who kicks Obama out of the No-Longer-White House (God, that was painful to type). Also, the whole Bain thing has been common knowledge for a few months now, and the Republican reaction seems to be a collective "meh"

[moljn]

Late here, but:

They probably figure he'll take from other countries somehow, and the poor, and give to middle and upper class USians.

[romp]

You're probably right, empire building and all that. And just because I fear a feudal state doesn't mean others are opposed to it, I guess! THey just assume nothing bad can happen to them so they'll wind up on top.