Thursday, February 16, 2012

Romney; corporations are people but workers are a liability

There goes Mitt, strutting around Michigan blowing the anti-bailout trumpet. He thinks he's campaigning.

That's not a particularly receptive audience for that particular trumpet, one would think.

Folks in Michigan remember the original Chrysler bail-out, the loan guarantees of 1980. That was a deal originally agreed to by a Democrat. Ronald Reagan was originally against it, but once he saw which way the wind was blowing he was all over it. Got on great with Chrysler boss Lee Iacocca too.

The bailout saved the company and tens of thousands of jobs in Michigan.

And Mitt doesn't seem to want to spend a lot of time talking about how the government bailed out the pension plan at GS Technologies, one of the many victims of the "restructuring specialists" at Bain Capital.

Long story short, Romney's restructuring specialists took control of GS for eight million dollars, paid themselves a dividend of 36 million the following year, and then let the company go down the drain. It was left to the federal government to cover the losses in the GS pensions.

But that's capitalism today. Nevermind the time-consuming process of building a company up through decades of hard work and innovation and struggle in the competitive marketplace.

That's for old-school idiots.

Romney stands for new-age vulture capitalism. Buy it, strip it, dump it.

You'll get a lot richer a lot faster.

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