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View Diary: Mitt Romney campaign ignores the question at the heart of the Bain criticism (67 comments)

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  •  Bad framing (3+ / 0-)
    Recommended by:
    judyms9, tb mare, Amber6541

    I don't believe most people really care that he made money even if they company failed.  That sounds like he is just a smart investor, dictating the terms of his investment so he can't lose and most people won't really have a problem with that.  If SD needed the money, they had to agree to whatever terms Bain gave them.

    But that's not what the issue with Romney and Bain is. The real issue is their "vulture capital" business model.  They would find a struggling company with assets, max out credit lines, grab every government subsidy and loan guarantee they can find, sell off equipment, and take transaction fees for every little thing - if after that the company somehow managed to survive while also paying Bain's huge management fees then   Bain makes out like bandits. If the company can't survive, they raid the pension funds, sell everything off, and default on government-backed loans, while also making out like Bandits.

    These aren't experts coming in to turn things around, they're vultures coming in for the kill.  If the target company happens to survive that's just extra.  And that's what people don't like about them.  They're not bringing in Steel experts to improve the product, or put efficiencies into the production line or top salesmen to increase market share, they're just bean counters without any interest in the investment other than how much money they can make, people and their jobs be damned.

    [Terrorists] are a dime a dozen, they are all over the world and for every one we lock up there will be three to take his place. --Digby

    by rabel on Tue May 15, 2012 at 06:28:47 AM PDT

    •  Voters will most certainly care about this (2+ / 0-)
      Recommended by:
      laserhaas, rabel

      when they learn Romney and Bain pocketed tens of millions of dollars from some of these companies while having US taxpayers on the hook for the pension plans.

      Even most of my Republican friends don't care for this.   In all fairness to my friends they are somewhat embarrassed to admit to being Republicans these days and instead have resorted to calling themselves Libertarians.

    •  Bad Framing (1+ / 0-)
      Recommended by:
      rabel

      I agree Rabel w/ what you're saying but we need to simplify it even more. I live in the Alabama part of PA and the Rs here don't understand what a "subsidy" is or what a "loan guarantee" is. I think anytime the word subsidy is used, we should be calling it a "government handout" or "taxpayer dollars" instead.  Also we should say that the government would step in & bail the investor out if the takeover didn't work, instead of using the words "loan guarantee". I know it's wordy but there are so many people out there that don't know"bank speak".
      Perhaps a chop shop analogy would work for explaining what Romney did since most of the people around my part of PA work @ Harley & they'd understand that..

      Just sayin.  

      The more I'm around people, the more I like my cats

      by southpaw2015 on Tue May 15, 2012 at 08:57:04 AM PDT

      [ Parent ]

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