Greed And Debt, The True Story Of Mitt Romney And Bain Capital

by bill - 2012-09-03 10:00:00 ( in education, civics, politics) [php version] rebuild

In light of Mitt Romney's resurfacing, a reminder: If you don't read it, it explains vulture capitalism and how Romney is the poster child for that. Basically,Romney borrowed millions (with little of his own money) from others to buy sick companies, such as KB Toys. Then somehow shifted those millions in debt onto the companies, and further looted the companies, driving them into bankruptcy and making millions for himself. Bain is similar to Carlyle Group, another famous vulture capital firm. Good reading.

"... that same belief in the lunatic pursuit of instant borrowed millions -- it's dusted itself off, it's had a shave and a shoeshine, and it's back out there running for president.

The incredible untold story of the 2012 election so far is that Romney's run has been a shimmering pearl of perfect political hypocrisy, which he's somehow managed to keep hidden, even with thousands of cameras following his every move. And the drama of this rhetorical high-wire act was ratcheted up even further when Romney chose his running mate, Rep. Paul Ryan of Wisconsin -- like himself, a self-righteously anal, thin-lipped, Whitest Kids U Know penny pincher who'd be honored to tell Oliver Twist there's no more soup left. By selecting Ryan, Romney, the hard-charging, chameleonic champion of a disgraced-yet-defiant Wall Street, officially succeeded in moving the battle lines in the 2012 presidential race."

Read, listen or watch the rest here: rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829#ixzz25DjNA1e3