Sprite, you gotta add in the piece where Mitt and Bain would take out huge loans in the name of the companies they acquire and immediately “pay” that money to themselves as dividends and fees. That would accelerate Bain’s profits and accelerate the decline of the companies they bought. Then when those companies went bankrupt, that borrowed money had already been paid out and could not be claimed by the creditors. That’s how Bain made net profits on most of the companies they acquired even when those companies went bankrupt. Plus government pension insurance was used to bail out some of those companies’ pensions even though Bain had already collected the companies’ assets and pocketed them.
Thanks it’s really sick to see this happen. Everyone knows deep down inside that is wrong. If Mitt did this to a company, then what do you think he will do as President? Scary to think about.
I just hope the Tea Party can organize because technically the voters really have no choice in the Presidential election as it currently stands.
Thanks again for the great post!