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Romney: Corporate Welfare Bum (4 those who don't understand Bain fiasco)
http://spectator.org/blog/2012/01/13/romney-corporate-welfare-bum ^ | 1/13/2012 | Aaron Goldstein

Posted on 01/13/2012 11:30:38 AM PST by Snoopers-868th

Consider if you will what Mitt Romney had to say about welfare and dependency at CPAC in February 2008:

(Excerpt) Read more at spectator.org ...


TOPICS: News/Current Events
KEYWORDS: bain; mitt; romney; sourcetitlenoturl
I'm not sure what can be posted so I post only the first sentence. It is a short and to the point article.
1 posted on 01/13/2012 11:30:51 AM PST by Snoopers-868th
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To: Snoopers-868th

‘It is a short and to the point article.’

And absolutely SPOT ON!


2 posted on 01/13/2012 11:35:47 AM PST by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: Snoopers-868th

Silly.

I oppose government subsidies, incentives, etc. as much as the next guy but, if they are available, a company would be stupid not to ask for and/or accept them.

It’s like tax deductions, if they are available, prudent businesses should take them.


3 posted on 01/13/2012 11:39:22 AM PST by NeilGus
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To: Jim from C-Town
Spot on -— True, but too late for Perry and Newt... How could these two not have this information and more on Romney. They could have painted Romeny as a Crony Capitalist which is a “Conservative Criticism”...
4 posted on 01/13/2012 11:41:43 AM PST by 11th Commandment (http://www.thirty-thousand.org/)
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To: NeilGus
The U.S. Cannot Have A Private Equity President, Mitt Romney - Forbes

I can give you several gritty reasons why former Bain private equity czar Mitt Romney is not the person to become President of the U.S. in November.

First, is just one tale of a Bain deal under Romney. Bain invested just $30 million to take over a company. It then arranged for this company to pay Bain and its investors a special dividend of $180 million– or six times the amount of equity capital Bain invested to take control. This technique of forcing your prey to pay back your original investment or more, as in this case, is to ensure that the Private Equity Firm is assured of a profit. It is an exploitative way to strip the company of its spare cash and is indefensible corporate rape. It is one selfish and destructive way to play the Private Equity game. For the average holding period by a PE firm is somewhere between 3 and 5 years– in and out with little thought as to the long term performance of the company or the protection of its employees.

More at link.

5 posted on 01/13/2012 11:46:02 AM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: 11th Commandment

How is this Crony Capitalism???

Crony capitalism is when you use your position (current or past) in government to benefit your friends/cronies.

Accepting government subsidies/incentives given to all businesses (something the government should not do) is something all good businesses do.


6 posted on 01/13/2012 11:46:33 AM PST by NeilGus
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To: NeilGus
Don't be naive, the grants and subsidies come at big costs. Most protect unionism, hurt the consumer with higher prices, are anti-competitive and stick it to the tax payer.

The article even states Bain lobbied for help. Bet if you check the donations on Bain executives, you will find the quid pro quo.

7 posted on 01/13/2012 11:51:52 AM PST by 11th Commandment (http://www.thirty-thousand.org/)
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To: Snoopers-868th

Halleluyah, I’m A Bum!
— Harry Mac McClintock (1928)
http://www.youtube.com/watch?v=8uKbIkYGsIg


8 posted on 01/13/2012 11:51:52 AM PST by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: NeilGus
Accepting government subsidies/incentives given to all businesses (something the government should not do) is something all good businesses do.

LOL. So I guess that makes Solyndra a "good business."

Wow, with defenders of capitalism like you, who needs the socialists.
9 posted on 01/13/2012 11:52:15 AM PST by Utmost Certainty (Our Enemy, the State | Gingrich 2012)
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To: NeilGus
Silly.

...if they are available, a company would be stupid not to ask for and/or accept them.

Yep, and that makes the organization Fascist, not capitalist or free market.

Remember government subsidies are not available to all, just the select favored insiders, and competing businesses are now operating at a state imposed disadvantage, and the state will make sure their favored Fascist continues to have advantage over competition.

Romney's a GOOD socialist.

10 posted on 01/13/2012 11:55:05 AM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it. (plagiarized))
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To: DJ MacWoW

What company was this?


11 posted on 01/13/2012 11:58:04 AM PST by magritte
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To: magritte

Go to the link. I didn’t write the Forbes article.


12 posted on 01/13/2012 12:00:05 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: DJ MacWoW

I guess you didn’t read it either. There’s no company named, making it difficult to substantiate it. Poorly done.


13 posted on 01/13/2012 12:07:58 PM PST by magritte
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To: magritte
Oh I read it. Just wanted to see if you would. DID you read the whole thing?

I'm sure that the author and Forbes generally are liars. /s

How about this one?

Mitt Romney company profited as steel mill it owned closed, government bailed out pension plan

Romney probably didn't do anything illegal. And no one is saying that he did. But do you want a vulture in DC? Aren't there enough of them? Isn't it time that he's vetted? The GOP elites won't. He's their man.

14 posted on 01/13/2012 12:17:13 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: DJ MacWoW

I think the American Spector named names. There is also an issue as covered in Forbes regarding the “carried interest.” And, IIRC because I have not reread the Forbes piece off-shore accounts. Granted nothing is illegal and I don’t think anyone has said it is.


15 posted on 01/13/2012 12:22:14 PM PST by Snoopers-868th
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To: Snoopers-868th

I’m shocked at the posters defending Romney. He’s the elites pick and posters are buying the media and talking heads spin. I am flabbergasted. Only a few are trying to find the truth.


16 posted on 01/13/2012 12:27:26 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: DJ MacWoW

Exactly. Republicans always seem to miss the real message. Still, I believe Newt is the only one who even has a chance to shake the whole tree in Washington.


17 posted on 01/13/2012 12:33:03 PM PST by Snoopers-868th
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To: NeilGus

But don’t call youself a “FREE-MARKET” person, Mitt.

He’s more than happy to lay off people and put them into the welfare systems, isn’t he. Those lazy slugs.


18 posted on 01/13/2012 12:34:12 PM PST by Reagan69 (I supported Sarah Palin and all I got was a lousy DVD !)
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To: NeilGus

But don’t call youself a “FREE-MARKET” person, Mitt.

He’s more than happy to lay off people and put them into the welfare systems, isn’t he. Those lazy slugs.


19 posted on 01/13/2012 12:34:35 PM PST by Reagan69 (I supported Sarah Palin and all I got was a lousy DVD !)
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To: NeilGus

But don’t call youself a “FREE-MARKET” person, Mitt.

He’s more than happy to lay off people and put them into the welfare systems, isn’t he. Those lazy slugs.


20 posted on 01/13/2012 12:34:58 PM PST by Reagan69 (I supported Sarah Palin and all I got was a lousy DVD !)
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To: Snoopers-868th

ROMNEYCARE.

Do we really need to know more?


21 posted on 01/13/2012 12:35:33 PM PST by Uncle Miltie (Gore Lauds Romney on Climate Position; 0bamaCare was based on RomneyCare.)
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To: Snoopers-868th

Same here. He knows where the “bodies are buried”.


22 posted on 01/13/2012 12:38:58 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: Uncle Miltie

That’s true but he could be made to say he made a mistake and you know all will be forgiven. Bain was no mistake.


23 posted on 01/13/2012 12:39:06 PM PST by Snoopers-868th
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To: DJ MacWoW; All

Ah, well familiar with that one. Good capitalism story, unless you are an OWS type.

I found the info on the other “incident”. It was Dade International. Here’s the article for all you lurkers...it’s not quite like the populist baloney blurb written on this thread earlier.

http://www.nytimes.com/2011/11/13/us/politics/after-mitt-romney-deal-company-showed-profits-and-then-layoffs.html?pagewanted=all


24 posted on 01/13/2012 12:41:12 PM PST by magritte
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To: DJ MacWoW

Yes, that is a huge plus in my book. He knows how to navigate and I do believe he will do what he says he wants to do. Contrary to so many who don’t trust him.


25 posted on 01/13/2012 12:42:03 PM PST by Snoopers-868th
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To: Snoopers-868th
I believe Newt is the only one who even has a chance to shake the whole tree in Washington.

The rats are dying for Newt to get the nomination. obama, his billion dollars, his allies in the MSM and the democRat superpacs will tear him up. And they will get Bill Clinton to help them do it. They'll go after his personal life and his time working in the Clinton administration. If Romney was able to knock him out in Iowa imagine what the Chicago thugs will do to him in the general?

26 posted on 01/13/2012 12:43:20 PM PST by jersey117 (Perry 2012)
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To: Uncle Miltie; Snoopers-868th
Romneycare and this should catch FReepers hair on fire.

Lincoln’s party now the party of prejudice (Says Romney owns the ground zero mosque bldg!)

the tattered building that was bought by the Muslim real estate company had been owned by a subsidiary of Bain Capital, a company Romney founded in 1984.

27 posted on 01/13/2012 12:45:15 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: magritte
Good capitalism story, unless you are an OWS type.

That's a misdirection. Not everything done in business is ethical and you're trying to say it is. Romney became rich taking companies for a ride and getting government bailouts. You really want to defend that given our economic state?!

Do you support Romney?

28 posted on 01/13/2012 12:48:28 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: Snoopers-868th

I think the historian in him is horrified at what he sees happening. I believe government would be on his chopping block.


29 posted on 01/13/2012 12:49:29 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: jersey117
Iowa was a joke!

The man the rats want is Romney. And hee identified himself with Obama and the auto companies. Why not just vote for Obama?

Dems Prepare To Hammer Romney With The REAL Bain Onslaught (Newt's ad just the appetizer)

30 posted on 01/13/2012 12:53:04 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: jersey117

I can’t believe there is much out there left to try to destroy him that hasn’t already been said. In any case, he is a warrior and IMO we need warriors right now.

The following is a long read from The New Yorker but it is quite telling regarding Mitt.

http://nymag.com/print/?/news/politics/mitt-romney-2011-10/

Be sure to read the 2nd to the last paragraph and how he views people.


31 posted on 01/13/2012 12:57:55 PM PST by Snoopers-868th
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To: DJ MacWoW

http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idUSTRE8050LL20120106

Reuters reports in “Special report: Romney’s steel skeleton in the Bain closet” that Romney’s Bain Capital took a $44 million government bailout in 2002 from the federal U.S. Pension Benefit Guaranty Corp after they determined that Bain had underfunded its steel mill’s pension by $44 million. Workers were denied the severance pay and health insurance they’d been promised, and their pension benefits were cut by as much as $400 a month. 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://www.nytimes.com/2011/11/13/us/politics/after-mitt-romney-deal-company-showed-profits-and-then-layoffs.html?pagewanted=all

The New York Times reported in their article “After a Romney Deal, Profits and Then Layoffs” that Bain structured its deals so it would be hard for Romney and his partners not to come out ahead. In the case of their medical company Dade, the creditors threatened litigation against Bain, accusing them of “professional negligence” and “unjust enrichment.” Bain argued that the claims were baseless, but agreed to forgo about $68 million owed to them by Dade.

Romney has acknowledged having second thoughts about some of the deals he drove, saying his post-Bain career in government had sensitized him to the consequences of his decisions as a businessman. He may be sorry but I don’t think Obama and the Democrats will forgive and forget this year even if we do!


32 posted on 01/13/2012 1:15:30 PM PST by JediJones (Newt-er Romney in 2012!)
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To: JediJones

If he had second thoughts it’s because he was caught.


33 posted on 01/13/2012 1:18:32 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: DJ MacWoW

Lol...your simplistic talking points always amuse me. You have little if any understanding of Bain Capital, capitalism, or free markets.

Bain, back in the day, found companies whose owners were ready to dump them. Bain would take them and try to build them into profitable companies that were appealing to other buyers. Sometimes it worked out, sometimes it didn’t. Bain also started up a few places, including Staples, that continue to this day to be powerhouses in their markets.

I still, of course, support Rick Perry and have since he entered the race. I, as opposed to you, continue to support the conservative position of capitalism. I am a conservative FIRST. You, on the other hand, are ANTI-ROMNEY first.

Listen, just because Gingrich briefly jumped on the Pitchfork Pat populist “corporations are evil” bandwagon doesn’t mean any thinking conservative should have followed him. These attacks are OWS-worthy and should be scoffed at.

Your mileage may vary.


34 posted on 01/13/2012 1:21:25 PM PST by magritte
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To: magritte
When you use insults to refute something it means you have no facts.

You have not refuted any information posted.

Have a nice day.

35 posted on 01/13/2012 1:31:40 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: DJ MacWoW

You have a great day too ! Learn some economics, gather some understanding about our financial systems, especially in the context of the historical periods involved. Perhaps someday you’ll be up to speed and be able to discuss these matters from a position of actual understanding.


36 posted on 01/13/2012 1:34:53 PM PST by magritte
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To: DJ MacWoW

Rick Perry has the record and executive experience. Some conservatives are just as elitist as the rats. So Perry didn’t go to an ivy league school. Haven’t we had enough of those? He comes from humble roots, served his country, is the longest serving governor, will implement a major domestic energy policy. He’s pro life and pro God and country. What’s not to like? His Texas drawl and mannerism? I live in the Northeast and can look beyond that. They tried to paint Sarah with that same brush if you recall.


37 posted on 01/13/2012 1:59:12 PM PST by jersey117 (Perry 2012)
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To: jersey117

I never mentioned Perry. ????????


38 posted on 01/13/2012 2:01:00 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: DJ MacWoW

Listen to the video on CBS regarding Solyndra and 11 others. Economist called it Venture Capitalist.

http://townhall.com/tipsheet/guybenson/2012/01/13/unreal_cbs_news_identifies_eleven_new_solyndras

Paging Mittens to please pick up the phone.


39 posted on 01/13/2012 2:20:09 PM PST by Snoopers-868th
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To: Finny

self ping to Forbes link on Bain


40 posted on 01/13/2012 2:28:39 PM PST by Finny ("Raise hell. Vote smart." -- Ted Nugent)
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To: Snoopers-868th
I've seen it refereed to as vulture capitalist too.

There seem to be posters that believe Romney is a dirty politician but a squeaky clean businessman. Astonishing!

41 posted on 01/13/2012 2:30:31 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: magritte; DJ MacWoW
Mag tells DJMcW: I am a conservative FIRST. You, on the other hand, are ANTI-ROMNEY first.

Mag, if you're not anti-Romney, then you're only a pretend "conservative." There is no "first" and "second" in play.

42 posted on 01/13/2012 2:39:37 PM PST by Finny ("Raise hell. Vote smart." -- Ted Nugent)
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To: DJ MacWoW

No. But you are all defending Gingrich as the perfect conservative who is going to save the day. Obama doesn’t fear gingrich because he knows he has limited appeal.


43 posted on 01/13/2012 2:44:15 PM PST by jersey117 (Perry 2012)
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To: DJ MacWoW

Vulture/Venture both are the same to me especially when it involves the taxpayer forced be it by bonds or government intervention.

Taxation w/o representation when it is forced on us is rampant at all levels of government disguised using many different names.


44 posted on 01/13/2012 2:48:25 PM PST by Snoopers-868th
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To: jersey117
No one said ANY candidate was perfect.

You like Perry. I have a different opinion.

Ain't America great?!

45 posted on 01/13/2012 2:49:43 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: Snoopers-868th

I agree.


46 posted on 01/13/2012 2:50:41 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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To: Finny

Lol...of COURSE there is...I’m not going to sacrifice my conservative principles by attacking capitalism just because it MIGHT hurt Romney. What next? Should I cry out that I’m one of the 99% and Romney is an evil capitalist? Should I turn into an anti-Mormon?

Pretend conservative my ass. Look in the mirror bud.


47 posted on 01/13/2012 2:50:52 PM PST by magritte
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To: DJ MacWoW

America is great. But it seems like we the people always lose in the end. Obama has taken control of the country. The media is complicit and the republicans appear to be powerless. His stooge is running the senate. No one cares that he’s usurping power. Makes you wonder if something nefarious is going on behind the scenes and congress has already list control. Feeling pretty hopeless and down right now.


48 posted on 01/13/2012 3:05:44 PM PST by jersey117 (Perry 2012)
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To: jersey117
Actually this is the Republicans problem.


49 posted on 01/13/2012 3:10:10 PM PST by DJ MacWoW (America! The wolves are here! What will you do?)
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Slap those Dems!




50 posted on 01/13/2012 3:20:01 PM PST by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list)
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