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Add Bain to list of things we cannot discuss
Legall Insurrection ^ | 1/11/2012 | William Jacobson

Posted on 01/11/2012 1:45:23 PM PST by Lakeshark

Politico has a story about Newt agreeing not to go after Romney any more about Bain, and Newt was just on Hannity’s radio show on the issue. (I’ll post the audio if I can get it.)

Newt said there are three or four instances where the record is really bad and Romney needs to defend it. Newt said the challenge is not to the model but how Romney acted in specific instances, and how odd it is that Romney runs on his business record but doesn’t want to discuss the record.

Newt made the point that it is impossible to discuss the issue without being accused of class warfare by people trying to protect Romney, but the issue will come up if Romney is the nominee without knowing how much it would hurt Romney.

Newt did not back away from the issue, but said he is moving on.

You know my position. Newt is making a purely political decision to move on. Once he lost Rush and Hannity on the issue — wrongly I believe — it no longer was politically tenable.

So we will go through the primary process and possibly nominate someone with a potentially devastating electability problem. The electablility problem will not go away, we just will not find out how bad it is until September and October 2012.

So add Bain to the list of things we cannot discuss, for fear of being labeled anti-capitalist. Along with Jeremiah Wright, for fear of being called racist.


TOPICS: Editorial; Extended News; News/Current Events; Politics/Elections
KEYWORDS: bain; bondcollapse; corporatesocialism; default; dollarcollapse; economy; languageoftheleft; limbaugh; manufacturing; newt; pensioncollapse; robberies; romney; rush; rushlimbaugh; translatingnewt
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To: Lakeshark

It happens every election, but the Republicans never learn.

First they “select” the candidate they want us to nominate based on who will be easiest to destroy in the general election, then they cozy up to their “favorite” to help him through the nomination process — and incidentally destroy any actual Conservative who might get too popular...

THEN, once “their” guy is safely nominated, the rip off their masks, whip out their knives and shred the nominee with carefully saved and honed attacks.

They did it with Dole, they did it with McCain, they’re doing it with Romney.

Sigh...

They don’t call Republicans the “Stupid Party” for nothing.


61 posted on 01/11/2012 2:46:26 PM PST by Ronin (If we were serious about using the death penalty as a deterrent, we would bring back public hangings)
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To: impimp
Why is his record at Bain so sacrosanct and if it's so defensible, why doesn't he just defend what he did rather than shriek that it's all an attack on capitalism? Heck, the guy won't even release his tax records..........
62 posted on 01/11/2012 2:47:04 PM PST by Lakeshark
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To: Lakeshark
Agree, Rush was pushing so hard seemed he was also protecting the establishment pick.

Back during the Bain Capital time, I think the term was corporate raider. They would burden a company with large amounts of debt, and usually many pink slips.

63 posted on 01/11/2012 2:51:20 PM PST by opentalk
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To: Kansas58
"Bain gets involved when a company is ALREADY IN TROUBLE!"

Starting with a false premise will not result in an accurate conclusion.

64 posted on 01/11/2012 2:58:03 PM PST by moehoward
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To: CainConservative

BUMP POST $49


65 posted on 01/11/2012 2:58:28 PM PST by greyfoxx39 (Let's not vet Mitt w/Bain so Obama can do it all summer. /sarc)
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To: Kansas58
ZeroHedge doesn't defend Romney's record as a ‘capitalist’:

“Lately, Bain founder and GOP presidential candidate Mitt Romney has found himself in a spirited defense of the private equity industry, doing all he can to spin decades of data which confirm, without failure, that PE Leveraged Buy Outs are nothing but “efficiency maximizing” transactions whose only goal is the “maximization” of EBITDA in the pursuit of dividend recap deals, IPOs or outright sales, while loading up the company with untenable amounts of leverage. All this with a 3-5 year investment horizon, which ignores the long-term viability of a company and seeks to streamline (read fire as many as possible) operations as quickly as possible in the goal of maximizing short-term returns. We wish him luck in his endeavor.”

It may not be exactly pump and dump. But it is for all intents and purposes a legal form of pumping up a company in order to dump it. He and Bain did it dozens of times.

Very few of their investments where turn around endeavors. Most where a way to clean up the books for a quick IPO or sale while loading up dept and emptying the company of all the cash. Lots of it through ‘consulting fees’ paid to Bain by the very companies they where looting. All of it legal, most of it unethical and imoral.

Good luck to Romney, the establishment GOP and the idiot RINO’s like Rove trying to defend him against Obama and the MSM juggernaut. I for one will only reluctantly vote for Romney. I will not make calls, go door to door, or even put out a sign for him. I have too much personal integrity.

There is a reason why He has gotten a free pass from the MSM and GOP Establishment. He is the least likely to beat Obama and if he does he won’’t do a Damn thing to upset the business as usual apple cart in DC.

BTW I also have a business degree and two decades of work in business.

66 posted on 01/11/2012 3:03:17 PM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: Lakeshark

Isn’t “minion” a :::teenie, teenie::: little onion?

We like them at Thanksgiving, baked au graten. “;^)


67 posted on 01/11/2012 3:03:37 PM PST by b9
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To: Lakeshark

Have a look at post #85.
http://www.freerepublic.com/focus/news/2831605/posts?page=85#85


68 posted on 01/11/2012 3:04:59 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: newnhdad

” Newt made a stupid attack from the left and he got called out for it.”

Newt’s attack was legit, like it or not.

“language he uses and his superpac commercials are something right out of the Obama campaign”

Romey himself said today Newt was right...!! Even Romney compared what he did to Obama’s bailout of the auto industry.

“Newt made this personal, he’s a political animal, been around the block many times and should know better and he will pay a price, IMO.”

Can you blame him for making it personal. He has been attacked and savaged by “our” own conservative media, Rush included.

“Rush has been critical of Romney too and has voiced support for Perry, Santorum and Bachmann as well as Newt”

Not to the extent that Rush has savaged Newt....!


69 posted on 01/11/2012 3:06:49 PM PST by swampfox101 (s)
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To: dfwgator

There was never a government bailout of any of the 240 companies Bain invested in or acquired. There was one instance when Bain acquired a faltering GS Steel and the pension fund had already been depleted so that the Federal Pension Guaranty was on the hoof to guarantee the assets to the union employees. Bain during the acquisition did not assume the liability for the already depleted pension fund. No sane equity investor is going to take on that water. The Bain offer to the owners factored in the fact that they would not be assuming the liability of the previous owners with respect to the depleted pension fund.That liability would remain with the previous owner. A perfectly valid negotiating point. Bain restructured the company, held it for a few years, tried to make a go of it but the union was recalcitrant and the company went under. So the Federal Pension Guaranty kicked in and covered the employees pension shortfall. Bain did not profit from the Pension Guaranty as those funds went to the employees.


70 posted on 01/11/2012 3:06:49 PM PST by chuckee
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To: Lakeshark
.


Lakeshark,


There's substantial evidence (as reported by the Wall Street Journal) that Mitt Romney-Bain Capital "did in fact" financially "rape and pillage" some corporations ...

WITHOUT A THOUGHT to cleaning up their business.

Care to argue with Wall Street Journal about that ?



Newt Ginrich's Press Release today (2012-01-11) about Mitt Romney and Bain Captital's "Vulture Capitalism" ....


Spartanburg, SC – Newt 2012 released the following statement from Press Secretary R.C. Hammond responding to misleading reports on an exchange Newt Gingrich had with a voter in Spartanburg, SC


Regarding Mitt Romney’s record at Bain Capital (during which the phrase “I crossed the line” was never uttered from Newt, despite the headline from Politico):

“This issue at hand is neither about Bain Capital, private equity firms, nor about capitalism.

It is about Mitt Romney’s judgment and character. It was Governor Romney’s decision to base his candidacy, in large part, on his background as a portfolio manager.

Thus, it is entirely legitimate to ask questions about whether he is accurately presenting how he conducted himself during that career.

“Reports by the Wall Street Journal and others contradict Governor Romney's claims that it was his goal at Bain Capital to make companies more successful.

In fact, there were cases where Bain Capital made huge profits and left companies bankrupt.

Further reports have cast doubt on Governor Romney's claim that he was responsible for 100,000 jobs being created thanks to his work at Bain Capital.

“Instead of accepting the responsibility to answer questions about his business background, the Romney campaign is throwing up a smokescreen about an attack on capitalism.

That’s just more pious baloney from Mitt Romney and his campaign.”


====================================


As usual, Newt Gingrich "nailed it" perfectly ...

We're now (breathlessly) waiting for Mitt Romney's response ...

... including releasing his Federal Income Tax Returns ...




.
71 posted on 01/11/2012 3:10:01 PM PST by Patton@Bastogne (Newt Gingrich and Sarah Palin in 2012 !)
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To: Hoodat

“In an election year where the economy is the most important issue, do you really want to tip voters off that Mitt Romney has quite a bit of success at saving jobs in the private sector?”

Oh? How many? Source, please. NOT Bain or related to...that would be VERY unusual to have a net gain. Let’s see those numbers and I might vote for the bastard myself. But you won’t.


72 posted on 01/11/2012 3:14:07 PM PST by jessduntno ("'How fortunate for governments that the people they administer don't think." - Adolph Hitler)
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To: Lib-Lickers 2
You hit it spot on. Newt's on the right track here. Romney is clearly the establishment's choice however the fact is Newt is articulating a line of attack that will be clearly used by the left and repeated at nauseum by the MSM. Federal bailouts for pension plans for firms that were raided by bain is a terrible optic in this day and age. Obama will run with this and obama will get four more years. Shit what a mess!!!

Who needs the democratic party when i give you the republican establishment. Rush and Shaun are doing a disservice to the conservative movement by asserting newt as being "anti-capitalist" and "using the language of the left" to attack Romney. Romney has alot to answer for. Watch him duck this issue.

73 posted on 01/11/2012 3:15:18 PM PST by bubman
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To: Lakeshark

Very good link. Newt explains why Romney’s business model is NOT what we want and need in a president. I don’t know how he could explain it any more clearly.


74 posted on 01/11/2012 3:20:01 PM PST by b9
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To: Lakeshark
Well, it was a very messy divorce ...


75 posted on 01/11/2012 3:27:14 PM PST by x
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To: jessduntno

Good grief. Do you even know what Bain & Co. does?


76 posted on 01/11/2012 3:29:20 PM PST by Hoodat (Because they do not change, Therefore they do not fear God. -Psalm 55:19-)
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To: bubman

“Obama will run with this and obama will get four more years.”

Are you suggesting the libs wouldn’t have “run with this” the minute...no....the SECOND .... Mitt was the nominee? Please.


77 posted on 01/11/2012 3:30:03 PM PST by jessduntno ("'How fortunate for governments that the people they administer don't think." - Adolph Hitler)
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To: Hoodat

“Good grief. Do you even know what Bain & Co. does?”

No, no idea. I’se too stoopid.


78 posted on 01/11/2012 3:31:10 PM PST by jessduntno ("'How fortunate for governments that the people they administer don't think." - Adolph Hitler)
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To: Lakeshark

Again, Newt proves he is a much better teacher than Rush on this issue.


79 posted on 01/11/2012 3:39:30 PM PST by b9
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To: onyx; livius; Lakeshark; Kansas58; dfwgator; All
It's interesting that those who denounce Newt on speaking the language of the left" and "anti-capitalism" are using the same tactics that the left uses when they are confronted with and are pointed to an obvious and clear case of malfeasance in their ranks - they turn it around to make it about generalities, and accuse you of being "anti-government," "anti-education," "pro-pollution, against clean air and water," "anti-labor/anti-working-class" etc. etc.

Those who denounce Newt on this (and some other issues) are themselves guilty of class-warfare and using the "language and methods of the left" to attack him. And it's done by supposedly "conservative" media and pundits who can't allow somebody other than them to be even for a moment "the smartest man in the room."

Newt is the last person to engage in class-warfare, unlike Romney and Santorum, yet it's he who is being accused of it. Newt made the point that it is impossible to discuss the issue without being accused of class warfare by people trying to protect Romney"

See more on this at: http://www.freerepublic.com/focus/f-news/2831668/posts?page=33#33 - FR / TH, post #33, Right wing rips Gingrich, Perry for attacks on Romney, capitalism (Rush, WSJ), 2012 January 11

80 posted on 01/11/2012 3:48:30 PM PST by CutePuppy (If you don't ask the right questions you may not get the right answers)
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