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Tossica wrote:http://www.rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829
If this dude isn't the enemy of "the people", I don't know who is. Fuck him and fuck anyone that votes for him.
Tossica wrote:Read the article. Refute it.
there's a key difference between private equity firms and the businesses that were America's original industrial cornerstones, like the elder Romney's AMC. Everyone had a stake in the success of those old businesses, which spread prosperity by putting people to work. But even private equity's most enthusiastic adherents have difficulty explaining its benefit to society.
Lyion wrote:Bain is how private equity works. You can just as easily point to Staples or The Sports Authority and the thousands of jobs that were saved. Anyways, Bain is a private company. It operates within the law. I'm amused that all the people outraged about 'Bain' have no issues with Solyndra and their half a billion dollars for fake markets which were leveraged for massive political contributions, or Corzine and his big money ripoff, or heck Madoff who was a huge DNC bundler. Our system has a lot of issues, and I'm not a big fan of Bain, but this really is a huge oversimplification of things for partisan rhetoric. My problem with the system isn't private equity, it's offshoring, outsourcing, hedge funds, insider trading, and crony capitalism.
Lyion wrote:The problem with spending money on 'green' energy or other 'new' technology is it becomes a kickback slush fund, like Solyndra was. Who picks who gets the money? If the GOP is in power, it goes to their buddies. Ditto for the Dems. My preference is government give incentives but completely get out of the way of private investment, period. The government, especially at the Federal level has no business getting involved in anything that should be private.
Tossica wrote:Successful small businesses get swallowed up by larger businesses who then get bought by a large corporation which is traded on the stock market and eventually all the money ends up in the same hands.
Arlos wrote:Um, exactly HOW does Dodd-Frank kill such vast numbers of jobs?
Arlos wrote:I actually don't have a problem with the federal government funding R&D or seed money for new important industries. After all, without massive government R&D spending, we wouldn't be talking on the internet right now. Here's a Fortune Magazine blurb on Solyndra, noting that investigators haven't found any evidence of the cronyism you discuss, and that Ryan was completely off base when he claimed there was no market for their product. http://finance.fortune.cnn.com/2012/08/ ... a-fantasy/
Arlos wrote:Now, I won't disagree that there needs to be a major overhaul of the tax code. Absolutely, no question there needs to be. Lets start by eliminating the different tax rates for normal income vs "carried interest" or "capital gains" just to start. Then lets lower the overall rates, but get rid of most of the special-interest write-offs. Keep the mortgage write-off for individuals, or even for corporations who are using it to actually buy property used to expand the business, but not to write off debt they incurred buying other companies. Lets get rid of all of the oil company subsidies, and lets actually put IN some incentives to keeping jobs/capital/etc INSIDE the US, rather than outsourced or offshored.
Tossica wrote:You clearly didn't read the fucking article you dope. It's not about risk and reward, bank loans or bailouts. It's about hostile take overs. A handful of people throwing money around, gutting companies, causing massive layoffs and pocketing huge profits in the process.
Is that the American way now? No longer finding ways to actually produce a product and building an empire around it but instead, finding companies that offer the biggest bang for the buck when they are gutted and forced in to bankruptcy?
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