Posted on 01/13/2012 6:14:08 PM PST by VinL
Furthermore, making a profit is only one component of owning a business. Whatever happened to the idea that you are responsible for your workers and to the larger community? Too often, people feel like just pawns in a ‘game’ of ever increasing largesse for the top dogs. The big shots are always the winners – often getting payouts in the millions when their companies fail — and the “losers” are left to figure out how to eat or buy clothes for their children. (A new study found that $100 million “golden parachutes” have become commonplace for failed CEOs).
Romney’s “class envy” claim is predicated on a lie we often here from the uber-rich and their defenders: the highest goal and achievement for Americans is to be wealthy, when all most people want is to be able to provide a decent lives for their families…
The unlikely hero in this tale has been Newt Gingrich, who has been making the most coherent argument for ethical capitalism. Says Gingrich, what we want is, “a free enterprise system that is honest. . . fair to everyone and gives everyone an equal opportunity to pursue happiness.” Criticizing Romney’s brand of free enterprise, (Newt)said, “It’s not fine if the person who is rich manipulates the system, gets away with all the cash and leaves behind the human beings.”
Be still my heart.
(Excerpt) Read more at hotair.com ...
It’s got nothing to do about crony capitalism
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Respectfully, you’re in error. It’s all about “crony capitalism” or as your brave Mr. Perry terms it- “vulture capitalism”— Newt and Rick have both finally realized that the GOP Establishment, stereotyped as the party of the rich, decided in their infinite wisdom to nominate the quintessential country club, multi millionaire elite candidate conceivable.
This is typical of the arrogance and blind spot of the Establishment GOP-— in the face of a Depression and 9% unemployment, the GOP is going to run one of the richest, most privileged men ever to run for the office. Brilliant!
Thank God!! I started to wonder after you started quoting from a video game. Some of the stuff you where saying would almost get you hung from a lamp post in any nation on earth.... minus maybe England in the days of Oliver Twist.
Good Job with the Satire :)
Thank God!! I started to wonder after you started quoting from a video game. Some of the stuff you where saying would almost get you hung from a lamp post in any nation on earth.... minus maybe England in the days of Oliver Twist.
Good Job with the Satire :)
No. I think you are both highly motivated by your support for Newt and great desire to see that Romney does not get the nomination. However, these spurious arguments get a lot of traction because people are so envious of those that have more. Also, look at the loaded words that keep getting thrown around, "corporate pirates", "looting", "unethical capitalism".
If Romney broke any laws why hasn't he been indicted?
...I do begrudge the unethical manner in which he made his fortune.
This term "ethics" is getting thrown around a lot but it really is in the eye of the beholder. Why is it unethical to leverage a business and take out your initial investment?
Powers is a diehard liberal. She’s rooting for Gingrich. Was does that tell you?
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She’s hot for him? -:)
Actually, she’s not rooting for Newt- she telling the truth— that the GOP Establishment cannot say Newt is destroying capitalism, when the GOP does not practice capitalism- it practices socialism for the rich.
And what does it tell you that EVERY GOP Establishment politician and commentator is against Newt? I know why. They can control Romney, they can’t control Newt. When Newt says he’ll change DC and audit the FED, he will-— That’s something the Establishment can not abide.
“Michelle Malkin was a cheap shill for Willard the Lib in ‘08, too. She’s 110% RINO.”
Michelle a RINO???? People like you sound just like DU’ers! Geez the RDS on FR is just as bad as any BDS.
Boy that term "unethical" gets thrown around with no real definition.
A businessman does not "owe" anyone a job. A businessman does not "owe" a community to keep his business there. A businessman does have an obligation to pay workers what they agreed on. A businessman does have an obligation to pay his taxes to the community.
If a business fails the bondholders have a right to the assets and if any banks made non-recourse loans they knew the risk when they made the loans.
Maybe you haven't been reading what happened with some of Romney's "investments". He didn't just take out his initial investment. While he was running the "investment" he was borrowing money against the company in order to pay himself and his company dividends. Thus when the company went belly up, he walked away literally with millions of dollars in paid dividends immune from collection by the bankruptcy court.
Frankly I had no idea that companies could borrow money when they are losing money in order to pay their shell company shareholders dividends. Did you know that this is a practice of companies like Bain? They buy a fledgling company, bleed the company of all its assets, leave a big debt and then go into bankruptcy and are protected from having any Bain or personal assets taken because of corporate loopholes written by politicians who are recipients of their ill gotten loot.
All the benefits with none of the risks. Is this your idea of a working Capitalist system? If everyone ran their businesses in this way, every corporation would end up bankrupt and all their executives would be billionaires.
I don’t understand, Chris. Then, what does it relate to?
And this stupid attack on venture capitalists is going to backfire.
KIRSTEN POWERS is defending Newt. Now that is rich. Here are some of her other political positions
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Well, she finally got one right.
we agree
GONG!
No less than the liberal rag, Washington Post, gave Romney's most vicious attack ad, 4 Pinocchio's!
All four attacks were lies!
Well, if you read everything she said it appears that she got it right... but for the wrong reasons.
Can you be more specific and give us the details of when this happened, the name of the company, who loaned them the money, etc.
You do realize that when Bain Capital bought companies, they put a certain sum down and borrowed the rest, usually a lot more than the downpayment. If the company borrowed money, it must have come from a bank or someone who loaned the money to the company based on doing due dilligence about the company. The loaner was taking a risk. Why would they do that if the company was going belly up? If the company went bankrupt, then what happened to Bain's investment, i.e., the downpayment and the loan to purchase the company? Wasn't Bain on the hook since it owned the company?
If this is so easy to do, why isn't everyone doing it? I assume it is all legal. And wouldn't Bain make more money if it could make the company profitable and grow the business and then sell it?
Okay why are we beating up on Romney? He paid himself and pulled dividends. The money he borrowed was either on bond sales or loans from banks. Did he lie on any financial statements? He didn't, or he would have been indicted. Were the loans from banks non-recourse? If so the due diligence should have been very tight.
Frankly I had no idea that companies could borrow money when they are losing money in order to pay their shell company shareholders dividends.
Bankers make dumb loans all the time.
They buy a fledgling company, bleed the company of all its assets, leave a big debt and then go into bankruptcy and are protected from having any Bain or personal assets taken because of corporate loopholes written by politicians who are recipients of their ill gotten loot.
Boy is that a loaded question.
Got to go to bed. We can argue some more tomorrow. :-)
Yeah right.
Corruption and greed.
That would be a total different thing, the tarp bailout was supported by Newt, and Willard. But the story is not about Tarp.
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