"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."If commenting on the business practices of firms like Bain Capital is somehow an "attack on capitalism", then it's no small wonder that Capitalism losing the war of ideas. Thanks, guys!
Seems to me that the definition of capitalist now includes promoting taxpayer bailouts and depending on taxpayer bailouts. We can thank Rush for that too since he declared Romney the capitalist and Gingrich the anti-capitalist.
I like Newt, Perry and Santorum before I would support Mitt in the Primary.
However, I REFUSE to allow stupid attacks on capitalism to go unpunished or uncorrected.
Newt was wrong.
Romney = Gordon Gekko.
Your last statement is spot on.
Face it, Willard would have to be found to be George Soros’ sex slave before many here would start to ask questions about his ethics or business practices. I honestly think if it was discovered tomorrow that he alone ran Enron and Solyndra and did all the paperwork for the GM and Chrysler bailouts people would defend him on the grounds of he’s a “capitalist”.
The only criticism of capitalist companies allowed is after they fail. See Enron, GF Global, Madoff.