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kpete

(71,984 posts)
Fri Jan 13, 2012, 10:52 AM Jan 2012

Obama Campaign Memo shows why Bain is so devastating for Romney!

Obama Campaign Memo shows why Bain is so devastating for Romney!

FULL MEMO HERE:
Romney's Economic Record: Profit at Any Cost
http://images.politico.com/global/2012/01/freeenterprisememo.html

Cutter memo twists the knife on Bain

Memo Excerpts: ...................................

Romney closed over a thousand plants, stores and offices, and cut employee wages, benefits and pensions. He laid off American workers and outsourced their jobs to other countries. And he and his partners made hundreds of millions of dollars while taking companies to bankruptcy.

Although some of the businesses in which he took a stake undoubtedly added jobs, neither Romney’s campaign nor any independent fact- checker has supported his claim of producing a net increase of 100,000 American jobs — or even anything close to it. …

Mitt Romney boasts about understanding the “real economy,” but President Obama has worked alongside hardworking Americans in that “real economy.” President Obama — who, like Mitt Romney, earned a degree from Harvard and all the opportunities that affords — began his career helping jobless workers in the shadow of a closed-down steel mill. Mitt Romney, on the other hand, made millions closing down steel mills.

................

Between now and November the American people will decide whether to respond to this crisis by electing a corporate raider who profited from — and promises to restore — the conditions that caused it, or reelecting a President fighting to level the playing field for American businesses, restore fairness for consumers and help the middle class reclaim a sense of economic security that will benefit the entire economy. That’s what’s on trial, not “free enterprise.”




http://www.politico.com/blogs/burns-haberman/2012/01/cutter-memo-twists-the-knife-on-bain-110722.html


via:
http://www.dailykos.com/story/2012/01/13/1054353/-Obama-Campaign-Memo-shows-why-Bain-is-so-devastating-for-Romney!?via=siderec
31 replies = new reply since forum marked as read
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Obama Campaign Memo shows why Bain is so devastating for Romney! (Original Post) kpete Jan 2012 OP
Hee-hee-hee-hee! Bolo Boffin Jan 2012 #1
The GOP is working itself into a real bind. Romney was not a run-of-the-mill CEO. He led a predatory Cognitive_Resonance Jan 2012 #2
A guess who the person is game for DU. Botany Jan 2012 #3
with GOP candidates and Republican PACS working hard to spread this message about Mitt - this is Douglas Carpenter Jan 2012 #4
Romney is the guy Obama has been fighting most of his life uponit7771 Jan 2012 #5
What ever will the repubs do? snappyturtle Jan 2012 #6
Oh my. Lugnut Jan 2012 #7
Flabbergasted Johnny2X2X Jan 2012 #8
I hope we see a barrage of TV ads NAO Jan 2012 #9
Financial idiot here. postulater Jan 2012 #10
Because after Bain bought a company it would Botany Jan 2012 #11
I think this deserves its own thread renate Jan 2012 #18
I don't know what went into Romney/Bain's decisions but ..... Botany Jan 2012 #22
Thanks for the very clear explanation! BlueMTexpat Jan 2012 #23
Unbelievable that someone would have that intent postulater Jan 2012 #26
K & R Scurrilous Jan 2012 #12
There is no way Obama is going to lose this election fascisthunter Jan 2012 #13
oh...along with the corporate media fascisthunter Jan 2012 #28
Of course the GOP will bring back its "community organizer" slur CatholicEdHead Jan 2012 #14
And he's hiding his tax returns. tclambert Jan 2012 #15
GOLD! Just effing GOLD! trof Jan 2012 #16
and the gop establishment is flipping flat out over newt and perry's attacks on bain because arely staircase Jan 2012 #17
My long-standing complaint is that they need to use actual numbers. "Thousands" doesn't hammer gateley Jan 2012 #19
Who's going to read this memo? It's excellent, but we're the only ones who will read it, I fear. gateley Jan 2012 #20
This is why I keep saying Romney is a doomed candidate Cali_Democrat Jan 2012 #21
"Romney: A Corporate Raider, Not A Job Creator" DinahMoeHum Jan 2012 #24
We need to pound this into peoples memories. K&R Firebrand Gary Jan 2012 #25
K&R SantorumAnalFrothyMX Jan 2012 #27
Romney 90-percent Jan 2012 #29
Yeah... Newt is going to be shocked when his populist attacks win him SC JCMach1 Jan 2012 #30
This clearly shows Mittens true colors. Hopefully the country can see this and understand. cutlassmama Jan 2012 #31

Bolo Boffin

(23,796 posts)
1. Hee-hee-hee-hee!
Fri Jan 13, 2012, 10:54 AM
Jan 2012

Oh, Mitt Romney is talking a good game about President Obama right now, but when he gets on stage with the man, all of Romney's lies will crumble away.

And every other contender in the Republican field would be worse for the GOP cause. Four more years!

Cognitive_Resonance

(1,546 posts)
2. The GOP is working itself into a real bind. Romney was not a run-of-the-mill CEO. He led a predatory
Fri Jan 13, 2012, 11:13 AM
Jan 2012

Wall Street "chop shop" that acted outside the mainstream of what a reasonable American would consider "free enterprise." The Republican Party is doubling-down to put Romney's face on their brand. I think Romney's nomination will be the next major step toward the disintegration of the Republican Party on the national level, following the devastation of Bush/Cheney, nomination of Sarah Palin, and the second the ascendency of the Tea Party as the driving force within the GOP. 2010 was their last hurrah.

Botany

(70,490 posts)
3. A guess who the person is game for DU.
Fri Jan 13, 2012, 11:15 AM
Jan 2012

A guess who the person is game for DU.

Who closed over a thousand plants, stores, and offices?

Answer Willard "Mitt" Romney.

Who laid of thousands of American workers and outsourced their jobs to other countries?

Answer Willard "Mitt" Romney.

Who made millions of dollars outsourcing work, closing businesses, and turning pensions over to the federal government?

Answer Willard "Mitt" Romney.

And who wants to now be President because he knows how to create jobs?

Answer Willard "Mitt" Romney.

Johnny2X2X

(19,038 posts)
8. Flabbergasted
Fri Jan 13, 2012, 02:10 PM
Jan 2012

Last edited Fri Jan 13, 2012, 03:31 PM - Edit history (1)

I am flabbergasted that the GOP would pick this candidate at this point in history this is beyond the pale. He is the very poster boy for Wall Street greed and excess. You could not have a better face for the OWS crowd to target.

The Mitt has no chance to win.

NAO

(3,425 posts)
9. I hope we see a barrage of TV ads
Fri Jan 13, 2012, 03:01 PM
Jan 2012

derived from the material in this memo.

However negative you feel about Obama, he is no Romney.

postulater

(5,075 posts)
10. Financial idiot here.
Fri Jan 13, 2012, 03:07 PM
Jan 2012

Can someone tell me how a person buys a company, shuts it down and then ends up with more money than they started with?

I do not understand how this works.

I understand the motivation, but just don't know where the money comes from and goes to.

Botany

(70,490 posts)
11. Because after Bain bought a company it would
Fri Jan 13, 2012, 03:49 PM
Jan 2012

Last edited Fri Jan 13, 2012, 07:25 PM - Edit history (1)

fire the employees so the company no longer had to meet a
payroll, turn the costs of the pension funds over to the federal
government (federal pension guarantee insurance), sell off any
and all assets that the company owned .... real estate, tools, vehicles,
and ? ...... and then if the company still had a product that was
viable in the market they would ship the work out of the country
where labor costs were cheaper.

Everything was done in order to make maximum return on the
leveraged money that was used to buy the company in the first
place. It was not about keeping the company going but using
every trick in the book to "mine the company" for every nickel
that could be pulled out of it. A good phrase that describes what
Bain Capital was all about was that it was a "Wall Street Chop Shop"
that made it's money by breaking up companies not by building
and or running them.

Now in some cases where the company they bought had low labor
costs ..... such as Staples ..... they would keep the business going.

renate

(13,776 posts)
18. I think this deserves its own thread
Fri Jan 13, 2012, 07:32 PM
Jan 2012

What you said about turning over the costs of the pension funds to the federal government really attracted my attention. Would you say that federal pension guarantee insurance was an important factor in Romney's making millions?

Botany

(70,490 posts)
22. I don't know what went into Romney/Bain's decisions but .....
Fri Jan 13, 2012, 08:16 PM
Jan 2012

.... in more than one case the taken over companies' pension
burden was shifted to the federal government.

I do know that Bain's track record is really damning to Romney's
chances of being President and that bringing "it" up must be hurting
him because Fox just had something on about how these charges
are having little if any effect. (I could only watch for 30 seconds of
the strange and untrue story Fox was spinning.)

postulater

(5,075 posts)
26. Unbelievable that someone would have that intent
Fri Jan 13, 2012, 11:45 PM
Jan 2012

Imagine what he could do with an entire country.

Thanks for the explanation.

 

fascisthunter

(29,381 posts)
13. There is no way Obama is going to lose this election
Fri Jan 13, 2012, 04:54 PM
Jan 2012

these idiots in the GOP almost seem to be running just for show. Hopefully, the voting machines and the Supreme Court don't commit another coup.

CatholicEdHead

(9,740 posts)
14. Of course the GOP will bring back its "community organizer" slur
Fri Jan 13, 2012, 04:55 PM
Jan 2012

as a rebuttal. There needs to be a response to that too.

arely staircase

(12,482 posts)
17. and the gop establishment is flipping flat out over newt and perry's attacks on bain because
Fri Jan 13, 2012, 07:27 PM
Jan 2012

they know it is going to be the president's main line of attack - and they know it has teeth.

they should be afraid, very afraid.

gateley

(62,683 posts)
19. My long-standing complaint is that they need to use actual numbers. "Thousands" doesn't hammer
Fri Jan 13, 2012, 07:43 PM
Jan 2012

the point home as well as "1,450 people lost their jobs", "A worker earning $12 an hour was suddenly earning $7 an hour." "A worker who had $10,000 in his pension plan suddenly only had $8000" -- whatever. Give the actual numbers. That's just my opinion and I stand by it.

I thought the chart he used in this morning's statement was excellent. Instead of the info going in one ear and out the other, we could SEE what a boondoggle it is and do .

And again, a la Rachel -- she does an exceptional job of laying the groundwork, showing the progression, showing the results. Plouffe should hire her.

gateley

(62,683 posts)
20. Who's going to read this memo? It's excellent, but we're the only ones who will read it, I fear.
Fri Jan 13, 2012, 07:47 PM
Jan 2012

How do we get this into the brains of the people who are TRULY undecided and actually MAY vote for Obama?

 

Cali_Democrat

(30,439 posts)
21. This is why I keep saying Romney is a doomed candidate
Fri Jan 13, 2012, 07:50 PM
Jan 2012

He doesn't have a snowball's chance in hell of winning the POTUS because of his time at Bain.

In this economic climate, that will hurt him severely.

JCMach1

(27,556 posts)
30. Yeah... Newt is going to be shocked when his populist attacks win him SC
Sat Jan 14, 2012, 10:25 AM
Jan 2012

Then, what are the Pugs gonna do?

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