Some now on talk radio and cable news are portraying Perry and Gingrich as attacking capitalism, but if it turns out after months of examination during the election cycle that taxpayers got stuck with a $10 million bill, employees were tossed and Romney and others ended up with $4 million, it's over. The GOP will be branded as super, ultra, mega hypocrites.
Is this free-market capitalism? If not, then why are Perry and Gingrich being attacked? Regardless if this was allowed under the FDUC or wharever loss, voters won't forget that employees were tossed, taxpayers got stuck with the bill, and Rombey and others made $4 million - if it's all true. And believe me, we will know, and all the anti-Solyndra arguments, anti-banker bailout arguments, anti-crony capitalism arguments the GOP was planning to use against Obama will be gone. And Romney will lose, as more than one media outlet have apparently shredded the argument Romney has put forward that he created 100,000 jobs.
So, if this isn't true free-market capitalism, then why defend Romney and attack Newt?
Bain has donated more to Odumbo than Romney.
So, that takes bail outs off the table. RomneyCare takes ObamaCare off the table. If he wins the nomination, Mittens might adapt a new slogan, “Take Your Pick; there really isn’t any difference.”
Nice find! : )
Why should American taxpayers be forced to pay for Willard’s business incompetence and greed?
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Workers were denied the severance pay and health insurance they’d been promised, and their pension benefits were cut..
What’s more, a FEDERAL GOVERNMENT insurance agency had to PONY UP $44 MILLION TO BAIL OUT the company’s underfunded pension plan.
Nevertheless, Bain profited on the deal, receiving $12 million on its $8 million initial investment and at least $4.5 million in consulting fees.
http://legalinsurrection.com/2012/01/bain-drip-drip-drip/
Newt is a loser. Newt is not attacking Romney’s Bain stint for the specific federal bailout or any other specific things Romney did wrong there.
He is attacking Venture Capitalism, which is high risk / high reward game that works ruthlessly to deploy capital and reap rewards.
I simply loathe Newt (and now Perry) for doing it.
There was excellent piece in the Weekly Standard that rightly goes after Romney for his Bain stint. That intellectually honest attack is something that works with me.
Right now the GOP isvcaught between a rock and a hard place.
Dem-lite Romney cannot defeat Dem not lite. It never works.
The GOP has a choice: either dump all crony capitaliam, corporate welfare and vulture capitalism in which bailouts occur and people get millions nonetheless while employees get tossed - or lose elections.
Your choice. I have tried to warn you that Romney will be savaged over this and lose badly. No more warnings. This is it.
Romney as the Republican nominee is a disaster in the general election because:
1) Bain - Obama will paint this organization as a Wall Street monster whose only function is to scarf up companies and split them up, fire employees, only to make a profit for the share-holders. Romney, given his distaste to actually fight tough, will give some mealy-mouth explanation that will explain nothing. Advantage - Obama
2) ObamaCare - there is no difference between ObamaCare and RomneyCare, at least none the 3-second-attention-span public will understand. The issue (which is one of the defining issues of this election IMO) will be off the table. Advantage - Obama
3) Everyone has said this will be a down-n-dirty smear-fest election from the Democrooks. Look for 3 stories a day from the MSM, after Romney is the nominee, about how his church, the one he’s been in all his life, didn’t recognize blacks as equal until 1978. Yup, this will be a trash-fest of the Mormon “religion” and it will be vicious and relentless. Advantage - Obama
Election- Obama
Done, go home, the party is over.
I could care less, Newt is disgracing himself making what Rush Limbaugh says are leftist arguments.
No one on FR should be bothered that Romney was in business and (God Forbid!) the business actually fired people.
Further, if being in business and hiring and firing people is an issue that you don’t think can stand up to democrat attacks, give up right now.
The contrast with Obama is glaring I think this issue will just dig Obama’s political grave.
you are 100% correct.... I would not have said this ten days ago but as we learn about Bain, it dooms a Romney run against Obama. David Axelrod is salivating at running his boy against Romney
Now that you've quoted Ted Kennedy, who is next Karl and Josef?
I don’t post very often therefore I don’t know the link rules very well and I certainly don’t want to get anyone into trouble. BUT, I urge you go to legalinsurrection.com and look for the article “Selling out capitalism in defense of Romney and Bain”. At the bottom of the article is a video of Newt on Scarborough and he gives an EXCELLENT response to this whole Bain problem for Mitt.
If this not prevent Romney from winning the GOP nomination, the GOP is not a conservative party.
We haven’t had free-market capitalism in a long time. It’s crony capitalism, government/power brokers choosing winners and losers, and capitalizing the profits while socializing the losses.
Federal aid
The US Pension Benefit Guaranty Corp, which insures company retirement plans, determined in 2002 that GS had underfunded its pension by $US44 million. The federal agency, funded by corporate levies, stepped in to cover the basic pension payments, but not the supplement the union had negotiated as a hedge against the plant's closure.
For Joe Soptic, who worked at the plant for 28 years, that meant a loss of $US283 per month, about 22 per cent of his pension. Others lost up to $US400 per month, according to documents supplied by the union.
Comparatively, the GS bailout was one of the pension guarantor's smaller hits. The federal fund swung from a $US7.7 billion surplus to a $US3.6 billion deficit that year as it struggled to cover bankruptcies in the steel and transportation industries. The failure of LTV Steel, for example, cost the agency $US1.9 billion.
The agency's woes prompted Congress in 2006 to require companies to contribute more toward their pensions. Press accounts said this change accelerated the shift away from pension plans toward 401(k)s and other defined-contribution retirement plans that offer less security for workers.
Why indeed?
How about this as an example of Romney’s idea of free-market *cough* capitalism:
RomneyCare
I have run a company for 30 years and when you have hard times you make hard decisions. My company tried to hang on for a long time before I finally decided it was time to downsize. I had to lay off folks I cared about. I had to downsize offices or completely close them. Did I like it? NO. But I had to do it to survive and save my company. Am I a greedy SOB like Newt portrays me? I pray not. I supported many families over the years; trained folks with new skills; paid by taxes and raised a family.
As a result of trying to keep from laying off people I wound up with a Loss Carry Forward to a couple of Million Dollars. Is this another way of saying I got a credit from the Government? That other taxpayers paid for my survival mode?
Have you ever owned a small or mid-sized company? If not, then you have no idea of how complicated economics can get. Life is not a bowl of cherries. It’s hard work, hard times and hard decisions you make over a lifetime.
The ad can run but it has a lot of inuendos in it. I suspect that is why Kennedy didn’t run it.
Romney’s also on record for supporting the following “free-market capitalist” ideas:
TARP
bailouts
taking over GM as a good idea
Obama’s $trillion stimulus package
mandates
Surely Rove and other establishment republicans pushing Romney know and have known all of this would come out during the election. They have to have known that Romneycare neutered the issue of Obamacare and Bain will play right into the hands of OWS which was created by the dems to hang on Romney.
I'm not sure that they really want to lose but I am sure that they don't want a conservative to win.
We call them the stupid party but calling them stupid is assuming that they really care about conservative issues and just don't take action. It is looking more and more like they don't care if they lose as long as they keep the tea party from winning.
So now conservatives are salivating over Teddy Kennedy’s ads! NO THANKS.
Exactly, LFC. Bullseye.
Romney cannot win. In fact, of all the elections in his life, he has won only one, and he screwed that up so badly he dropped out rather than lose trying to get re-elected. His replacement was defeated so badly, she's still trying to figure out which way is up.