Romney Shits on America
Last night's debate was one of a few to still air, and probably the only means of sizing up the candidates most Americans (and unimportant foreigners) will pay attention to.
Since it's fucking stupid to depend on one source for your information on such matters, I'd like to remind voters to open a few papers, watch some CNN, and maybe buy some big-people periodicals like Newsweek before squawking on pivotal election points.
These candidates have to be examined not just in terms of the now, but in terms of their actions in the past. We've got some good insight on President Obama, but as far as Governor Romney goes? Here's a good reminder on why it's important to look past the strategically-dyed grays and nice, rehearsed debate responses:
If Bain doesn't convince you this guy is one of the 1% that couldn't give a fuck about America, doesn't convince you he's a little less than human, that he's one of the guys OWS people want behind bars, or comes as a surprise to you since you've never heard/read about this company yet, you're a moron.
Bain Capital (once known as Bain Management) was the Leverage Buy-out company Romney belonged to from the 80's. An LBO is basically a management scam designed for a few people to become incredibly rich at the expense of companies and hard workers. During Romney's time, the big company in question was KB toys.
Remember KB? They were getting on hard times due to the sudden, massive demand for electronic toys and video games. So they were an easy target for Bain. What these LBO guys did was scour papers and stock sheets, searching for businesses that were borderline successful. KB wasn't necessarily doing bad, but wasn't really up there alongside more major toy and recreation outlets. Hell, if one person is willing to go to a Wal-Mart to search for and buy video games and systems, then in the business world, it's most likely good as 1,000,000 people.
And that was really bad for a toy store like KB (Even I remember all stores sold out of Ps2 the week of release EXCEPT KB, where no one thought to go buy one). Toys and games were supposed to be their business! So then along comes Bain to the rescue.
Bain tells KB their company is all about helping to properly manage profit-straddling businesses. They'll get KB up to the very top by implementing great managerial skills and going over all the books. In fact, they had a whole lot of money to get everything started!
In reality, Bain had already gone to the bank to take out a MAJOR loan (around 90% of the difference needed for KB to jump to the top). And that was the money they'd use to "help" KB become #1.
Of course, all that money didn't seem to help. KB was still sub-par, if not on a more massive decline than before Bain. Nothing was getting done, and in the meantime, Bain laid a big one on them:
You took help from us, so now you need to pay our management fees and bank costs.
Seeing as how KB was just as fucked as before, people started getting laid off to save money for Bain's expenses. Workers with 20, 30, 40 years experience and seniority with the company were the first to go, as they were the most expensive to keep. Eventually, KB declared bankruptcy and shut its doors for good in 2008.
Naturally, it didn't matter if Bain put in any effort on the LBO deal with KB or not. Either way, they'd be getting their money. It was set up that way since the beginning. Romney was one of the first to get his due, with a payout in the millions... and then Bain Capital received BAILOUT MONEY!!
He's got investments in Bermuda. His wife has millions in Caymen Island accounts. His time with Bain is responsible for the systematic unemployment and destruction of thousands of Americans and many businesses. And that's why he trembles at talk of his tax returns.
I could commend Obama for his debate on every level except for his failure to even utter "Bain". But then again, that's why multiple sources are necessary. It's for YOU to be sure you're informed and familiar with all points. It's really, really easy and all you have to do is fucking look around and, maybe, READ once in awhile. Here's a few nice references to get you started:
1. Vanity Fair Aug. 2012 Politics: "Where the Money Lives"
2. http://thinkprogress.org/economy 7-12-2012 "The Bain Job Losses..."
3. Newsweek Aug. 6, 2012 issue
4. And a great Howard Stern clip where he explains Romney's Bain Capital affiliation and LBO workings: http://www.youtube.com/watch?v=l8YAybk5q-k&feature=bf_prev&list=PLD1190CFD4FD7FB6B
rin Uploaded 10/04/2012