Skip to comments.Romney benefited from a $10 million federal bailout (Nullifies Romney being a free enterpriser
Posted on 01/12/2012 3:08:20 PM PST by Laissez-faire capitalist
It wasn't really a TARP style bailout - worse - Romney's Bain placed a $10 million dollar liability with the taxpayers. All this while he benefited $4 million dollars directly...
The facts of the Bain & Co. turnaround are a little more complicated, but a Bostin Globe report from 1994 confirms that Bain saw several million dollars in loans forgiven by the FDIC.
Fact remains an FDIC bailout only occurs when the Fed and politicians agree, not to mention the bailoit comes from funds paid by every bank customer who eats highet costs as a result of funds going to Vulture Capitalists who will have a lot of serious questions to answer when they want to be POTUS...
(Excerpt) Read more at redstate.com ...
Ergo, Romney is not a true venture capitalist.
Ergo Sum, Newt's and Perry's taking Romney to task then aren't assaults on venture capitalism, free-enterprise and so on.
Given this, why do some media conservatives remain silent on Romney benefiting this way? Are they "bailouts for me, but not for others from Obeyme?" Are they the kind of media conservatives who rail against Obama on this, but not Romney when they should be taking both to task?
the plot thickens!
What say you?
Please stop undermining capitalism by attacking government bailouts.
What say you?
It ain’t capitalism if you need taxpayer’s capital to provide the profits.
I say I haven’t heard this aspect from Newt or Perry—Or Rush for that matter. They need to point this out.
(I have heard it here, of course.)
Amazing how some media conservatives define capitalism or what defines true venture capitalism or true free enterprise.
Maybe not, but you can’t blame a businessman for playing with the cards he’s dealt.
[Please stop undermining capitalism by attacking government bailouts.]
I do some business brokerage and know a little about how Bain operates, though no expert. As a gesture of good will, I offered to make a run on the employer of a Romney apologist after they accused me of being anti-capitalst for not supporting Bain. Haven’t heard back yet:)
I mean, if Bain is so great and can guarantee 45% returns, shouldn’t we all get on that milk wagon? We can ALL get rich ripping the guts out of companies, can’t we? Any Freeper volunteers to be targets?
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The first sentence from the linked article states: “It wasnt really a TARP style bailout worse Romneys Bain placed a $10 million dollar liability with the taxpayers.”
The FDIC charges member banks a fee for insuring their depositors. Consequently, there were no taxpayer funds involved.
Second, the real story behind this ‘bailout’ is explained in detail at this link:
According to this article, Romney performed a superb job in managing a difficult situation. If you’re intersted in the facts, read the article at the link.
Already read it.
It has been shredded from by the left and right.
Sometimes it isn’t what a news provider provides in articles, but what they leave out.
Romney is a member of the cult of vultures and vampires that hide in the shadows waiting for the unsuspecting and vulnerable to come up on their radar.
Basic Capitalism is :
free-market system: an economic system based on the private ownership of the means of production and distribution of goods, characterized by a free competitive market and motivation by profit.
This is what I support. Not people that use money to destroy companies and lives of working Americans. Vulture Capitalist like Romney is part of WHAT is tearing America apart.
I thought this article was interesting:
But maybe THESE will get through to a few.
By justice a king gives a country stability, but one who is greedy for bribes tears it down.
I was enraged by his sinful greed; I punished him, and hid my face in anger, yet he kept on in his willful ways.
“From the least to the greatest, all are greedy for gain; prophets and priests alike, all practice deceit.
Therefore I will give their wives to other men and their fields to new owners. From the least to the greatest, all are greedy for gain; prophets and priests alike, all practice deceit.
My people come to you, as they usually do, and sit before you to listen to your words, but they do not put them into practice. With their mouths they express devotion, but their hearts are greedy for unjust gain.
“Woe to you, teachers of the law and Pharisees, you hypocrites! You clean the outside of the cup and dish, but inside they are full of greed and self-indulgence.
21For from within, out of men’s hearts, come evil thoughts, sexual immorality, theft, murder, adultery, 22greed, malice, deceit, lewdness, envy, slander, arrogance and folly. 23All these evils come from inside and make a man ‘unclean.’ “
What good is it for a man to gain the whole world, yet forfeit his soul?
Then the Lord said to him, “Now then, you Pharisees clean the outside of the cup and dish, but inside you are full of greed and wickedness.
Then he said to them, “Watch out! Be on your guard against all kinds of greed; a man’s life does not consist in the abundance of his possessions.”
They have become filled with every kind of wickedness, evil, greed and depravity. They are full of envy, murder, strife, deceit and malice. They are gossips,
1 Corinthians 5:10
not at all meaning the people of this world who are immoral, or the greedy and swindlers, or idolaters. In that case you would have to leave this world.
1 Corinthians 6:10
nor thieves nor the greedy nor drunkards nor slanderers nor swindlers will inherit the kingdom of God.
The fact is the author is a moron who conflates the Fed and the FDIC.
David Schuster is the one on the left, not the right, who called NRO’s work an “asinine” cover up.
Google it and get the facts.
your understanding of bain capital is underwhelming. Forget the other VC’s or vultureC’s and look at what Mitt did. So far an objective view of His time at the helm of both Bains, shows incredible skill. Most of the anti people are commies or don’t understand turn around operations. Mitt’s 70% success is nothing short of amazing. That said I’d rather have voted for cain.
Not just “media conservatives” either. McCain defined it the same way in an interview with Megyn Kelly this morning.
He said, and Im paraphrasing, to just look at GM. They got a bailout, they had to fire a lot of people and that was painful but now theyre on a big upswing and are hiring again. Thats how capitalism works.
Uh HUH. That taxpayer “bailout” must have helped a little. Guess he likes BAILOUTS.
So, you put more credibility in MSNBC Countdown (wasn’t that Olberman’s old gig) than National Review?
As NR pointed out, the first statement in the article you posted is patently false. Exactly why does the rest of the article have any credibility?
Face it, some of them are too dumb to know the difference even when it's point out, the rest are on the take. We just have to figure out which is which.
I am really glad someone with access to Lexus Nexus got the info on all this.
not a single cent of tax payer money went to bain capital or the mother corporation. You need to be better informed of what happened not the coruptocrat spin.
I was fairly skeptical, but I also have a bach of science(yea science) in economics. The more of the history(real history not coruptocrat rants) I’ve read the more impressed I am with Mitts ability. My cousin almost ran for RI Gov this last time and was a similar fund manager, I bet he knows him well. When I get a chance I’ll ask him. BTW it would seen 100K jobs may be low balled.
HUMMMMM, check this out. Why would he need a taxpayer guarantee?
Don’t you just love all these “experts”
If TSHTF yes we all back the banks, with the massive inflation. By not actually reading about what happened you lose credibility. ? what tax payer funds were used to bail out bain captal. Careful trick question. Next what gov insurance backed bain, and what was mitts role, and how much did mitt get back from the Senior whores.
The only EXPERT I’ve ever believed without question:
In late 1979, during an economic strategy meeting, Ronald Reagan was talking about his upcoming presidential campaign. At one point, somebody expressed concern that John Connally, the former governor of Texas and another presidential candidate, was gaining support among corporate chief executive officers, with all the financial support and credibility that that entailed. Reagan said this didn’t bother him at all. “Let him have the Fortune 500,” he said. “I want our campaign to stand for Main Street, not Wall Street. I want us to stand for the worker, the shopkeeper, the entrepreneur, and the small businessman.” Reagan’s instincts were right on the mark.
Oh good heavens, don’t let Rush or Hannity see that, they’ll attack Reagan as being anti-capitalist.
Good one. Great bumper sticker material!
This is baloney. Here is a brief explanation of what actually happened. Bain and Co was not even Romney’s company. Romney didn’t benefit from this deal- not even five bucks. He helped his former employer fix Bain and co for free.
Once you have informed yourself, please inform others. I don’t blame people for hating Romney when they buy this baloney.