Taibbi "His personal fortune would not have been possible without the direct assistance of US gov't"

[patrice]

http://www.rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829

Matt Taibbi's article, titled Greed and Debt: The True Story of Mitt Romney and Bain Capital is full of information. It is well worth a read in order to understand the LIE that is Romney/Ryan. A few tidbits:

Barry Ritholtz, author of Bailout Nation, says the criticisms of Bain about layoffs and meanness miss a more important point, which is that the firm's profit-producing record is absurdly mediocre, especially when set against all the trouble and pain its business model causes. "Bain's fundamental flaw, at least according to the math," Ritholtz writes, "is that they took lots of risk, use immense leverage and charged enormous fees, for performance that was more or less the same as [stock] indexing."

snip

Dunkin' Donuts will have to sell about 2,011,834 small coffees every month – about $3.4 million – just to meet the interest payments on the loan it took out to pay Bain and Carlyle their little one-time dividend. And that doesn't include the principal on the loan, or the additional millions in debt that Dunkin' has to pay every year to get out from under the $2.4 billion in debt it's now saddled with after having the privilege of being taken over – with borrowed money – by the firm that Romney built."

snip

"Which brings us to another aspect of Romney's business career that has largely been hidden from voters: His personal fortune would not have been possible without the direct assistance of the U.S. government. The taxpayer-funded subsidies that Romney has received go well beyond the humdrum, backdoor, welfare-sucking that all supposedly self-made free marketeers inevitably indulge in.

snip

Thanks to the tax deduction, in other words, the government actually incentivizes the kind of leverage-based takeovers that Romney built his fortune on. Romney the businessman built his career on two things that Romney the candidate decries: massive debt and dumb federal giveaways. "I don't know what Romney would be doing but for debt and its tax-advantaged position in the tax code," says a prominent Wall Street lawyer, "but he wouldn't be fabulously wealthy."

[Amonester]

1. Robmehood is a Wealthfare King

This is the plain, stark reality that has somehow eluded America's top political journalists for two consecutive presidential campaigns:

[font size=5 color="red"]Mitt Romney is one of the greatest and most irresponsible debt creators of all time. 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.[/font]

Bookmarked
K & R

Thanks!

[patrice]

2. There's another good one in that same issue on the Bain bailout. Let's go viral with this info!!

http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829

[Amonester]

3. Even MORE damaging than an F bomb!

[font size=4 color="blue"]The federal records, obtained under the Freedom of Information Act, [/font][font size=4 color="red"]reveal that Romney's initial rescue attempt at Bain & Company was actually a disaster – leaving the firm so financially strapped that it had "no value as a going concern." Even worse, the federal bailout ultimately engineered by Romney screwed the FDIC – the bank insurance system backed by taxpayers – out of at least $10 million. And in an added insult, Romney rewarded top executives at Bain with hefty bonuses at the very moment that he was demanding his handout from the feds.[/font]

Please forward the RollingStone links to: http://barackobama.force.com/questions
(I can't because I'm abroad.)

[patrice]

4. I'll do that & I'll also make some big sharable jpgs like these for FaceBook, with links of course.