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View Diary: Cory Booker for President? (103 comments)

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  •  The false equivalency makes it better? (1+ / 0-)
    Recommended by:
    K S LaVida

    "What could BPossibly go wrong??" -RLMiller "God is just pretend." - eru

    by nosleep4u on Sun Apr 20, 2014 at 01:38:45 PM PDT

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    •  What false equivalency? (0+ / 0-)

      He was saying that the issues should be focused on more.

      I love president Obama!!!

      by freakofsociety on Sun Apr 20, 2014 at 01:40:38 PM PDT

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      •  Wright and private equity (7+ / 0-)

        Jeremiah Wright is a bugaboo for the Cluster-Fox News crowd.  He was a perfectly reasonable preacher one of whose sermons, taken out of context, sounded scary to American exceptionalists.  And since Obama merely attended his church, Obama was presumed scary too.

        Private equity is a real threat to many jobs. It's a way of doing business wherein a going company is stripped of its assets, piled with debt, has many of its employees laid off, and is then dumped back onto the casino, er, stock market hoping that the good results of the last quarter -- the one with no employees but still sales of legacy products -- fool the greedhead speculators into buying in.  Mitt Romney essentially perfected it, and it goes on every day, hurting real people.

        So why is one slightly-inflammatory sermon equal to ongoing harm to the economy and workers? That's the false equivalence implicit in Booker's speech.

        And a New Jersey politician doesn't have to suck up to Wall Street -- there are many voters there not tied to it.

        •  So most of the politicians there (1+ / 0-)
          Recommended by:
          skohayes

          Don't have ties to Wall Street? Sorry but I beg to differ.

          And as I said, if you would read the whole article you would have seen that he was going after attack ads. He was not equating the two.

          I love president Obama!!!

          by freakofsociety on Sun Apr 20, 2014 at 03:15:27 PM PDT

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        •  Do you get how much money (0+ / 0-)

          It costs to be in politics now? It is not logical to expect someone in New Jersey to rise up into the political scene with no help from Wall Street.

          I love president Obama!!!

          by freakofsociety on Sun Apr 20, 2014 at 03:16:40 PM PDT

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          •  It's only one source of money (1+ / 0-)
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            unfangus

            Sure, sucking up to Wall Street is one way to get money.  But you can try to get small contributions from the majority of the state that doesn't have ties to them.  You can emphasize free advertising (news events).  There are many ways to campaign, and as Karl Rove has learned, just having the most cash doesn't always win.  

            •  Okay if you honestly believe (0+ / 0-)

              Someone can get elected statewide in New Jersey that way. I don't personally believe it can happen. And he actually hasn't sucked up to Wall Street in an exceeding amount in my view. Simply getting backing from Wall Street should not be a scarlet letter.

              I love president Obama!!!

              by freakofsociety on Sun Apr 20, 2014 at 03:54:48 PM PDT

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        •  KSLV - that's not an accurate discription of the (0+ / 0-)

          classic private equity model, or how even Bain Capital manged the overwhelming majority of its portfolio companies.

          The standard private equity model is to buy companies with 80% debt and grow the cash flow over time. The lenders don't allow the owners (the private equity investors) to strip the assets because that is their collateral. There is no doubt that having so much debt adds very significant risk, but the big payoff for private equity is to build a company with more value and higher EBITDA. The analysts who work for Wall St firms, who take companies public, can certainly see when a company is stripped of its assets. It's all there in the financial statements.

          "let's talk about that"

          by VClib on Sun Apr 20, 2014 at 06:19:30 PM PDT

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          •  That "classic model" isn't practised much anymore (2+ / 0-)
            Recommended by:
            blueoasis, unfangus

            Thirty years ago that was the common model. Not today.

            "What could BPossibly go wrong??" -RLMiller "God is just pretend." - eru

            by nosleep4u on Sun Apr 20, 2014 at 07:23:40 PM PDT

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            •  nosleep4u - the classic model still represents (0+ / 0-)

              the overwhelming majority of private equity. If anything more private equity investments are focused on growth with less debt and more technology risk. Very little of private equity is asset stripping because you can't leverage it as much.

              "let's talk about that"

              by VClib on Sun Apr 20, 2014 at 09:20:22 PM PDT

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        •  Exactly. (1+ / 0-)
          Recommended by:
          blueoasis

          One preacher with virtually no influence

          vs

          Wall Street.

          yeah ... totally equivalent there. Bzzzzt. Booker FAIL.

          "What could BPossibly go wrong??" -RLMiller "God is just pretend." - eru

          by nosleep4u on Sun Apr 20, 2014 at 07:19:23 PM PDT

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