Rolling Stone Exposes Bain and Romney...

[bripat9643]

lol

That's maybe the dumbest thing I've heard here this year, and that's saying something. What a great way to scare away investment and destroy jobs.

The only investors who'd be scared away by that are the larcenous ones, and good riddance to them.

Wrong. Anyone who doesn't want to go to jail because the business lost money would be scared away. That means anyone with an ounce of smarts.

 

[Plasmaball]

So in other words, they are absolutely lying and thats why you like the article.

Matt tabbi has more respect by people who are educated than you ever will you twit.

 

[bripat9643]

So in other words, they are absolutely lying and thats why you like the article.

Matt tabbi has more respect by people who are educated than you ever will you twit.

"Educated" doesn't necessarily mean smart. He may be popular with all the brainwashed drones indoctrinated by the Marxist professors in the school of liberal arts, but people who understand what it takes to make the economy work laugh at idiots like him.

 

[emptystep]

Investopedia explains 'Leveraged Buyout - LBO'
In an LBO, there is usually a ratio of 90% debt to 10% equity. Because of this high debt/equity ratio, the bonds usually are not investment grade and are referred to as junk bonds. Leveraged buyouts have had a notorious history, especially in the 1980s when several prominent buyouts led to the eventual bankruptcy of the acquired companies. This was mainly due to the fact that the leverage ratio was nearly 100% and the interest payments were so large that the company's operating cash flows were unable to meet the obligation.

One of the largest LBOs on record was the acquisition of HCA Inc. in 2006 by Kohlberg Kravis Roberts & Co. (KKR), Bain & Co., and Merrill Lynch. The three companies paid around $33 billion for the acquisition.

It can be considered ironic that a company's success (in the form of assets on the balance sheet) can be used against it as collateral by a hostile company that acquires it. For this reason, some regard LBOs as an especially ruthless, predatory tactic.

Read more: Leveraged Buyout (LBO) Definition | Investopedia

I didn't notice Bain was mentioned until the second time I read this. I looked up HCA and found this article which I thought it worth adding for clarity.
Ethisphere Institute recognizes HCA among 2012 World's Most Ethical Companies

Earlier I posted clip from the movie Other People's Money. The capitalist is actually the hero of movie. Capitalism has proven itself to be economics system most capable of improving the human condition. Capitalism has also proven itself to need constant intervention. The argument is not that capitalism is evil. The argument is that some people will use capitalism with little to no regard for the humans who are affected in the process. I believe Romney has proven, beyond a shadow of a doubt, that he is a person who, very similar to G. W. Bush, does not take the human condition into account when making strategic decisions.

How would they "take the human condition into account," allow the company to go bankrupt? One of the main advantage capitalism has over socialism is that it has a means of liquidating mistakes. Companies that are losing money are mistakes. "Taking the human condition into account" means propagating the mistake.

Under socialism, inefficient enterprises have perpetual life. As a result, the longer the socialist state exists, the more inefficient it becomes and the lower the standard of living for everyone.

You really see things in absolutes, don't you?

 

[francoHFW]

Romney's a lying grinning personality challenged empty suit, a W clone disaster in the making. Bain suqs. Even the companies he saved got the workers screwed. And that steel plant in Indiana? Bain was a very small player, an "also invested"- Most of the money came from Banks in STATE GUARANTEED loans, just as much from state and federal cash. Romney is FOS, so so are you, dupes.

I know, let's cut taxes on the bloated rich, destroy Medicare and health reform, raise taxes and fees on the nonrich, let corporate cheats run wild, cut aid to states and localities, raise military spending to more than the rest of the world combined, and worry about the debt in 2035. Absolute idiocy, dupes

 

[bripat9643]

How would they "take the human condition into account," allow the company to go bankrupt? One of the main advantage capitalism has over socialism is that it has a means of liquidating mistakes. Companies that are losing money are mistakes. "Taking the human condition into account" means propagating the mistake.

Under socialism, inefficient enterprises have perpetual life. As a result, the longer the socialist state exists, the more inefficient it becomes and the lower the standard of living for everyone.

You really see things in absolutes, don't you?

Do you believe Congress can change the laws of economics?

Please explain how a company should "take the human condition into account" when it's losing money.

 

[JoeB131]

That's not how the real world works, Joey. The unintended consequences would be great as lenders would restrict credit to ensure they don't violate the law. There would be less capital available for investment, jobs and growth. Such a policy would be far more destructive and damaging than anything private equity firms wrought.

Of course, the empirical evidence is that companies such as Bain don't shed jobs any more than the rest of the economy.

The empirical evidence is that Bain really wasn't any better at picking winners than doing it at random, for all their larcency and evil.... YOu'd have done just as well picking stocks at random.

That was in the article...

And frankly, given how badly you guys fucked it up in 2008, I don't think you should be lecturing anyone at this point.

 

[JoeB131]

lol

That's maybe the dumbest thing I've heard here this year, and that's saying something. What a great way to scare away investment and destroy jobs.

The only investors who'd be scared away by that are the larcenous ones, and good riddance to them.

Wrong. Anyone who doesn't want to go to jail because the business lost money would be scared away. That means anyone with an ounce of smarts.

No, we'd have a fair investigation. If they lost money because of real market shifts, that would be taken into account.

But if they just went into a company to loot it... that'd be a different issue.

And threaten a few of the lower-level guys with jail, they'lll roll on the big boys really quick.

It's how the Mafia got put out of business...

 

[JoeB131]

Yes. I agree with you. But that occurs a fraction of the time. You make it sound like this is commonplace. It's not. The default rate on high yield bonds and senior loans that are used to finance leveraged buyouts averages 5%-6% over time, meaning ~95% of the time, these companies never file for bankruptcy. It's rare.

It shouldn't happen at all. When someone does this, they should be charged with fraud, tried in front of a jury made up of people who lost their jobs, and throw into big boy prison with a big weight lifting prisoner and a jar of vasoline...

And they should film the result for orientation day for new executives and brokers.

And, then you could beat them with your baseball bat.

Only, what you want has nothing to do with reality. Maybe you could ask Russia to become Soviet again, then you could have all you want.

Or we could just be like a European country... oh, wait. Europe doesn't exist...

Showing the rest of the world doesn't work like this is really how you guys deny reality.

 

[Toro]

The empirical evidence is that Bain really wasn't any better at picking winners than doing it at random, for all their larcency and evil.... YOu'd have done just as well picking stocks at random.

That was in the article...

lol

Yeah, you bet.

And frankly, given how badly you guys fucked it up in 2008, I don't think you should be lecturing anyone at this point.

Financiers, Mormons, rich guys, kikes and *******. They're all the same, eh Joey?

 

[Toro]

So in other words, they are absolutely lying and thats why you like the article.

Matt tabbi has more respect by people who are educated than you ever will you twit.

Really? Who?

 

[JoeB131]

And frankly, given how badly you guys fucked it up in 2008, I don't think you should be lecturing anyone at this point.

Financiers, Mormons, rich guys, kikes and *******. They're all the same, eh Joey?

See, I knew you couldn't defend Financiers or Rich Douchbags, so go hide behind some people who've really been oppressed.

Man, Self-Pity Much?

 

[Toro]

And frankly, given how badly you guys fucked it up in 2008, I don't think you should be lecturing anyone at this point.

Financiers, Mormons, rich guys, kikes and *******. They're all the same, eh Joey?

See, I knew you couldn't defend Financiers or Rich Douchbags, so go hide behind some people who've really been oppressed.

Man, Self-Pity Much?

WHOOSH!!

That's the sound of the point going right over your head.

 

[JoeB131]

Financiers, Mormons, rich guys, kikes and *******. They're all the same, eh Joey?

See, I knew you couldn't defend Financiers or Rich Douchbags, so go hide behind some people who've really been oppressed.

Man, Self-Pity Much?

WHOOSH!!

That's the sound of the point going right over your head.

The point was never valid.

Criticizing groups FOR THEIR ACTIONS does not equate them with groups who have suffered real oppression through no fault of their own.

The Financier/Wall Street class did REAL damage to this country through their recklessness.

And the rest of us bailed them out.

And if they actualy took some of that money they are hoarding and hired some people, we'd be out of this recession. Instead, they are prolonging the pain of the people who saved them in order to try to get them to go back to the same jokers who got us into this mess.

 

[kaz]

The Financier/Wall Street class did REAL damage to this country through their recklessness

I like Democrats saying this when look what your politicians have done to this country. Wow, Wall Street is scary, we need politicians to fix it. How many years in a row with trillion plus deficits and 8% plus unemployment? You can reply when you get back from the airport with your shaved head chanting, HarryReidsna, HarryReidsna...

 

[Avatar4321]

So in other words, they are absolutely lying and thats why you like the article.

Matt tabbi has more respect by people who are educated than you ever will you twit.

That could be true. most educated people dont know who i am.

You think that hurts me? There are alot of stupid educated people.

 

[JoeB131]

The Financier/Wall Street class did REAL damage to this country through their recklessness

I like Democrats saying this when look what your politicians have done to this country. Wow, Wall Street is scary, we need politicians to fix it. How many years in a row with trillion plus deficits and 8% plus unemployment? You can reply when you get back from the airport with your shaved head chanting, HarryReidsna, HarryReidsna...

Funny, Republicans have had the presidency for 20 of the last 32 years, the Senate for 18 of them and the House for 14 of those... And the Supreme Court has had a Republican Majority for that entire time.

So by your logic, they own at least half the blame for our woes....

If you were being honest.

I think both parties are responsible for our woes, and largely because they BOTH can't stand up to the bullies on Wall Street.

People should have went to jail in 2008.

 

[Toro]

See, I knew you couldn't defend Financiers or Rich Douchbags, so go hide behind some people who've really been oppressed.

Man, Self-Pity Much?

WHOOSH!!

That's the sound of the point going right over your head.

The point was never valid.

Criticizing groups FOR THEIR ACTIONS does not equate them with groups who have suffered real oppression through no fault of their own.

The Financier/Wall Street class did REAL damage to this country through their recklessness.

And the rest of us bailed them out.

And if they actualy took some of that money they are hoarding and hired some people, we'd be out of this recession. Instead, they are prolonging the pain of the people who saved them in order to try to get them to go back to the same jokers who got us into this mess.

The reason why you are a bigot is because you don't differentiate between individuals, and you make broad assumptions about individuals based on stereotypes. That's why you are no different than the guy who hates blacks or Jews. You're no different than the hicks who strung up some random black guy when a watermelon disappeared because "someone has to pay."

Most people in finance had nothing to do with the Financial Crisis. But because you wallow in ignorant stereotypes and wander around in a Fog of Hate, you can't differentiate. I can promise you that I have done more to help the working class you claim to speak for than you ever have.

 

[JoeB131]

The reason why you are a bigot is because you don't differentiate between individuals, and you make broad assumptions about individuals based on stereotypes. That's why you are no different than the guy who hates blacks or Jews. You're no different than the hicks who strung up some random black guy when a watermelon disappeared because "someone has to pay."

Most people in finance had nothing to do with the Financial Crisis. But because you wallow in ignorant stereotypes and wander around in a Fog of Hate, you can't differentiate. I can promise you that I have done more to help the working class you claim to speak for than you ever have.

No, you probably haven't. But that's okay, I k now you need to feel good about yourself when you foreclose on Granny's house with that reverse mortgage...

Fact is, everyone involved in what was going on in Wall Street knew what was going on, saw the cliff we were heading for and did nothing about it.

The ones who let it happen are just as guilty as the ones who did it, as far as I'm concerned.

 

[Toro]

The reason why you are a bigot is because you don't differentiate between individuals, and you make broad assumptions about individuals based on stereotypes. That's why you are no different than the guy who hates blacks or Jews. You're no different than the hicks who strung up some random black guy when a watermelon disappeared because "someone has to pay."

Most people in finance had nothing to do with the Financial Crisis. But because you wallow in ignorant stereotypes and wander around in a Fog of Hate, you can't differentiate. I can promise you that I have done more to help the working class you claim to speak for than you ever have.

No, you probably haven't. But that's okay, I k now you need to feel good about yourself when you foreclose on Granny's house with that reverse mortgage...

Fact is, everyone involved in what was going on in Wall Street knew what was going on, saw the cliff we were heading for and did nothing about it.

The ones who let it happen are just as guilty as the ones who did it, as far as I'm concerned.

It's hard to overstate the ignorance of your statement. But when you're an angry bigot who lives in a Fog of Hate, I guess it is to be expected.