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View Diary: 'Job creation' vs. Romney's locust capitalism (138 comments)

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  •  Absolutely. (13+ / 0-)

    This is  a brilliant piece of work. Here's hoping some rorters steal from it.

    Locust capitalists indeed.

    The scientific uncertainty doesn't mean that climate change isn't actually happening.

    by Mimikatz on Fri Jan 06, 2012 at 07:43:35 PM PST

    [ Parent ]

    •  Back in the day they were called Corp Raiders (2+ / 0-)
      Recommended by:
      Loozerio, sharman

      I also like you Locust Capitalists and will use it.  I've also used Vulture Capitalist to describe these thieves.

      Now we just need to make it simple so everyone understands how these guys operated.

      Look for a company with modest profits and lots of cash.  Go out and borrow against that cash and lay off workers which increases the quarterly profit report.  Go borrow more cash and pay yourself big fat "management" fees.  Then take the company public to get the last of your "investment".  Sell off stock before the company goes bankrupt from the debt you loaded it up with.

      Also, along with losing their jobs, many workers also lost their pensions in these destructions.

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