Romney could have taken any of the profits from closing down a plant

[hedgehog]

and re-invested it in a new plant in that town!

[HopeHoops]

1. Nah, that wouldn't shelter him from taxes.

[progressivebydesign]

2. He not only got profits from selling off the biz, he FIRST borrowed against it..

..then spread that money among the investors, before they did anything to the plants. That's the sick thing. They didn't come in and try to turn them around. They came in, borrowed against them. And often filed bankruptcy in the process. Fired the workers, rehired some of them and worked them like dogs, while shopping the company to buyers (based on the NEW lower bottom line because the workers were doing two or three jobs each.) Then he sold it off after firing everyone, and sending the company to CHina.

So there is no way in hell he'd reinvest, as they already borrowed against it.

Isn't it just rich that these guys can go in and do all of that, AND get to file bankruptcy, after the republicans made sure that ordinary folks have to fight and claw to even hope to file bankruptcy now? For Romney it's a biz strategy, for average Americans it's a stone around their necks.

[hedgehog]

3. It occurs to me that what he really did was a sort of Ponzi scheme!