Thursday, August 30, 2012

Taibbi: Romney, Greed and Debt

Matt Taibbi has a new Rolling Stone article on this here. He finds Romney to be a man of vision and purpose, but one not conducive to any but the richest among us. He and the regressives generally rail on about the debt, but ironically this is the vehicle for how they make their wealth. Bain's vulture capitalism is based on the legal loopholes created by regressive lobbyists that allow for them to borrow money to buy a company, then burden it with debilitating debt, gut it of employees and benefits, take the cream off the top, and then leave the shell owing the debt that Bain created. "In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth."

This is not the audacity of hope but of blatant lies and hypocrisy. They care about the debt, ha! Just like when Dubya was President their plan was to create a massive debt that would stick to the next President. And sure enough they attack Obama for a debt that they created. And that they continued to create when after he took office by obstructing any effort to reduce it while claiming they cared about it. All of which is the typical Wall Street mindset of borrowing other people's money for their own bets, the profits of which they get to keep but when the shit hits the fan they still the bill on the rest of us. And since they get away with it time and again, having bought the government, they brazenly continue the lies and obfuscation, knowing they'll get away with it again. Business as usual, and which will be magnified 100-fold should Romney get elected.

"Mitt Romney – a man whose own father built cars and nurtured communities, and was one of the old-school industrial anachronisms pushed aside by the new generation's wealth grab – has emerged now to sell this make-nothing, take-everything, screw-everyone ethos to the world. He's Gordon Gekko, but a new and improved version, with better PR – and a bigger goal. A takeover artist all his life, Romney is now trying to take over America itself. And if his own history is any guide, we'll all end up paying for the acquisition."

Taibbi also shows that Romney utilized government resources to create his wealth. So much for his "you didn't build that" strategy. See the article for many details and examples of the above. You owe it to yourself (self-debt, get it) to get the facts of the bullshit debt strategy.

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