Paul Revere by Cyrus Dallin, North End, Boston

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Friday, January 13, 2012

One Percenters Enjoying Themselves in Quiet Rooms


"...when Matt Lauer was chatting with him about the way Willard had made an additional fortune at the corporate chop-shop known as Bain Capital. Willard's initial response to criticism on this score was to paint everyone criticizing him as being jealous of Willard's fabulous life. Lauer asked him:

"Are there no fair questions about the distribution of wealth without it being seen as envy, though?"
Willard thereupon dropped a bomb on himself.

"You know I think it's fine to talk about those things in quiet rooms.... But the president has made this part of his campaign rally. Everywhere he goes we hear him talking about millionaires and billionaires and executives and Wall Street. It's a very envy-oriented, attack-oriented approach."

Infidel753 has a terrific blogpost on this  HERE.

8 comments:

Infidel753 said...

Well, that's the way they think. It's perfectly normal and OK for them to prey on the rest of us, casually destroying jobs and lives to enrich themselves, as if we were cattle to be used as they see fit; but if we so much as verbally object to that, it's class warfare.

Parasites. Romney is revealing himself to be as clueless as he is heartless.

Infidel753 said...

PS. Thanks for the link!

Malcolm said...

Romney wants to silence the distribution of wealth talk because he knows how bad it makes him look in the public eye. I hope the president keeps talking about the income disparity in this country.

Thanks for the link to Infidel753's blog post. I'll be checking it out ASAP.

Rational Nation USA said...

I am not a Romney fan (for reasons other than Bain), but he is getting unjustified criticism. It is quite likely that many more jobs would have been lost had it not been for Bain and Romney,

Here's a interesting and factual read:

http://westernhero.blogspot.com/2012/01/pain-of-bain-falls-mainly-on-insane.html

Shaw Kenawe said...

RN, there's always 2 sides to a story. Just ask the people who lost their jobs at this Bain Capital disaster.

“We were doing well and then Bain Capital bought us and they took everything they could out of the company without making the investments we needed to stay competitive,” said James Sanderson, who has been with the mill since 1974 and served as its union president since 1988. “They ran the company into bankruptcy.”

Bain Capital came to own Georgetown Steel after it provided the financing for a management-led buyout of Armco Worldwide Grinding System of Kansas City, Mo., in 1993. The Armco plant was renamed GS Technologies, which merged with Georgetown Industries in 1995 to become GS Industries Inc. At the time, the combined entities – headquartered in Charlotte, N.C. – had $1 billion in revenue and employed 3,800 people worldwide as the largest producer of carbon wire rods in North America."

Rational Nation USA said...

What else would you expect a union president to say?

Yes, there are two sides to every story. The trick lies in determining which one is the most credible.

billy pilgrim said...

private equity = corporate raider.

they buy a business, finance it to the hilt and use the cash flow to pay the financing. how do you increase cash flow, fire people and invest zero money into the company

S.W. Anderson said...

To appreciate where Romney comes from and what he intends to do, all a person need do is become familiar with his tax plan. It's undoubtedly the most honest statement of his intentions he's made in a long time.