Many are already aware of Rolling Stone's cover article by Matt Taibbi due out September 13th. It is entitled "Greed & Debt" 'The True Story of Mitt Romney and Bain Capital'. A detail of the Stage Stores and Kay Bee Toys cases that this victim has been trying to get indictments of for a decade.
What has also transpired during this week of the Democratic Convention; is the typical assault upon the messenger and message by Dan Primack of CNN. His counter story entitled "Greed, debt and Matt Taibbi" seeks to destroy both the messenger and message by obfuscating the issues apropos. Primack seeks to make the argument of Matt Taibbi (by proxy President Obama) - versus Private Equity ("PE"). When in fact the Rolling Stone cover story is about Mitt Romney and Bain Capital. With the details inside specifically germane to Stage Stores and Kay Bee Toys cases.
Huffington Post Wants to see a Taibbi vs CNN Primack Battle
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Matt Taibbi has already done several television interviews and cross commentaries about his Greed and Debtor article. Being that yours truly is a victim of this debacle and I did thrust the evidence upon Taibbi and so many others; I'm surprised it took this long for everyone to start going after Mitt Romney and Bain Capital on these issues. I can also testify to the fact that Matt Taibbi nailed it true. So the naysaying counters are to be expected. But HuffPo expects a battle royal as it denotes that Primack tries to "fact check" Taibbi by stating;
“Taibbi also takes a lot of wild swings at the broader private equity market that don't ring true,” Primack writes. “So many, in fact, that his valid critique of Romney's candidacy gets lost.”
This is what it appears to be, an effort by a Fortune Magazine (part of CNN) - effort to destroy both the message and the messenger. Primack attempts to make it appear that Taibbi is attacking private equity. But the fact of the matter is, as Taibbi denotes, with his rebuttal entitled "
Bain and Mitt Romney: What's Fact and What's Opinion" - Matt Taibbi does a Primack slap down denoting that;
So Primack’s point, I guess, is that I misrepresented how much a PE company typically puts down in a takeover deal, except that I actually went out of my way to point out how much of these deals are typically financed, and then used two concrete examples from Mitt Romney’s own past (remember, this is an article about Mitt Romney) to point out extreme cases, which Primack admits “perhaps” do happen.
emphasis added
Taibbi Denotes - Primack Takes Things Out of Context
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As Primack continues his efforts to babble B.S. and try to get the entire PE industry to help fight back against Taibbi's factual reflections, Matt Taibbi smacks that down as well - stating that it has nothing to do with the argument at hand. Specifically;
Primack now takes these passages and calls them factually lacking by arguing that dividend recapitalizations – "for the most part" and "alone" – aren’t a sweet enough carrot to keep investors coming back to the next deal. Which has nothing to do with what I was talking about.
HuffPo's article takes this all in light flare, not really taking any sides. But Huffington Post wants to see more Primack v Taibbi banter and openly states such by ending the article with this quote by HuffPo of Matt Taibbi;
Taibbi writes: “Like a lot of these pieces that pore through long features in search of mistakes, the resultant list ends up mainly being a discussion of non-factual issues where Primack and I simply disagree.
He later goes on to say:
It’s the difference between believing that [private equity] is socially beneficial and believing, as I do, that it’s often predatory and antisocial. It would be healthy to hear this debate aired out normally, but in this case, Primack depicts that disagreement as factual inaccuracy on my part, which is just obnoxious.
And HuffPo is anxious to see the Primack response as the story concludes;
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We're on the edge of our seats waiting for Primack's response.
CONCLUSION - We Want to See More Too
It is the GOP Book 101 Rule that you must destroy the message and messengers; when you have no way to defend against the facts. That is why Primack is slamming Matt Taibbi and the Rolling Stone article with inane efforts to detract.
On a factual, case by case issue, Matt Taibbi's story "Greed and Debt" has nailed Mitt Romney and Bain Capital to the proverbial wall. What is actually happening, like the campaign for Romney constantly putting out the falsehood that Mitt Romney was retired in 1999 from Bain Capital (when in fact the evidence shows he was there as CEO until August 2001) - is that Primack may actually assist our efforts as well. When you try to destroy the message so much - you clearly demonstrate that the message is working.
Stage Stores, Kay Bee and eToys cases are the achilles heel end of Mitt Romney and Bain Capital. They have been getting away with fraud and federal corruption for a decade or more. If it were not for the hubris of the Mitt Romney and his gang - they would still be getting away with it even now. Thus, just like HuffPo, we are on the edge of our seats and anxiously awaiting the next Bain Capital bad faith battle banter.
I can tell you for sure - that more articles are coming out - real soon.