Archive
Mitt Romney on Bain: “I insisted on having almost dictatorial powers.”
The ethical problem with Bain in a nutshell.
There’s apparently a few ways of taking over a company. The most common ways of doing it with the intent to bankrupt it are a hostile takeover or buying off its executives.
Mitt Romney chose buying off the executives with bonuses.
In business deals called leveraged buyouts, Bain would borrow money to buy troubled companies and then force the companies to pay back Bain’s loans. By moving the loans plus interest payments onto the troubled companies’ already deficit-heavy banksheets, this formula guaranteed the failure of the companies.
The result: All the CEOs and Bain Capital profited on the way out, while the average worker lost his or her job.
This is what happened with Ampad, a pad and paper company bought by Bain in 1992. Bain paid $5 million upfront for the company and profited more than $100 million in debt and management fees before Ampad filed Chapter 11 in 2000 and was resold in 2003.
Randy Johnson, an Ampad factory worker affected by the takeover, once wrote Romney a handwritten letter asking him to intervene and save an Indiana factory. Romney wrote back him saying that he wanted to help but his lawyers advised him not to get involved.
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Green and Debt: The True Story of Mitt Romney and Bain Capital quotes Mitt Romney regarding Bain: “I insisted on having almost dictatorial powers.”
So much for a man who doesn’t want to get involved.
WTF Wednesday – Paul Ryan Edition
WTF Wednesday – Weird News Wednesday
News regarding Mittens and Co.

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1. For counties, the greater the dependence on federal aid, the greater the support for Republican candidates.
2. “His eyes are just so blue. It’s like looking into a Smurf’s anus.” – Jon Stewart.
The Daily Show 8/13: http://on.cc.com/NgSZDk
3. Mitt Romney campaign rep freaks the fuck out on CNN when questioned about differences between Romney’s and Ryan’s Medicare plans. Tim Pawlenty responds by suggesting the anchor doesn’t speak English.
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Quote of the Day — Joe Biden
“Don’t tell me what you value, show me your budget, and I’ll tell you what you value.” -Joe Biden, 2008
“Maybe he should say it again.” -Reddit, 2012

“Paul Ryan Shirtless.” Gross Internet.
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Bee tee dubs, I just moved a lot of shit across state borders, so I’m going to reserve the right to be lazy this week about posting.
Also I put up ads, so don’t worry, you don’t have spyware, probably. They’re pretty unintrusive and I can take them down at anytime. Selling out feels pretty good.
Ayn Rand-Eddie Munster Hybrid Wins the VP ticket!
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“I think a lot of people would observe that we are right now living in an Ayn Rand novel, metaphorically speaking. Ayn Rand, more than anyone else, did a fantastic job of explaining the morality of capitalism, the morality of individualism.” -Paul Ryan, 2009.
“I reject her philosophy,” Ryan says in 2012. “It’s an atheist philosophy. It reduces human interactions down to mere contracts and it is antithetical to my worldview.”
Reddit guy: “Ayn Rand rejected judeo-christian values was because they were waaay to altruistic for her taste. Ryan is trying to have his cake and eat it too by swearing by the bible’s relevance as a moral guide and also subscribing to quasi-Austrian views on economic policy.”
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For bragging rights, I called Paul Ryan on Clantily Scad two months ago in:
“Marco Rubio’s Book Comes Out. He Does Not Do Himself Favors.”
I actually originally called Ryan around March or April in a private bet, when I wasn’t feeling the way Marco Rubio was handling the media. As more campaign trail reports came out, I became more confident that the other contenders were either too boring or had too many skeletons to rattle the fundamentalists.
Ryan fits my prediction that Romney’s strategy as the campaign moves forward is going to attack the state of the economy, nitpicking any aberrant number in the economic reports and trying to peg Obama’s name to it. I also think that this strategy is doomed to fail, since even in times of trouble, independent voters are unlikely to sway from the status quo. (I mean, we had Bush for 2 terms).
Talking about deficit reduction is boring, and people mostly only care about what they can see right now. And what they see right now is massive economic inequality and no government participation to ease unemployment. Obama hasn’t helped much on those fronts, but Mittens and Co. don’t seem to understand all the economists who say their plans will make things worse.
I’m sure many downtrodden denizens have not read HR 6110. But I’m also sure they’ll be hearing a lot about it in the next three months filtered through attack ads. Women will hear about how Ryan supports states that want to criminalize abortion. Seniors in former swing-state Florida will be listening when Team Obama rips into Ryan’s Medicare coupon, er, voucher plan.
Good job, Mittens, good job. You’ve successfully energized your white millionaire demographic. The rest of us will be stockpiling birth control and making plans to ship grandma and grandpa to Canada upon your 28% chance of winning.
Link Time
Paul Ryan’s Voting Record: http://www.ontheissues.org/House/Paul_Ryan.htm
Buzzfeed Video List: 10 Defining Videos Of Republican Vice Presidential Candidate Paul Ryan
Nate Silver three days ago, saying that Ryan would not have much effect on swing states: http://fivethirtyeight.blogs.nytimes.com/2012/08/08/how-romneys-pick-of-a-running-mate-could-sway-the-outcome/




Abraham Lincoln’s Strangely Socialist State of the Union Speech
Happy Labor Day!
It’s not really socialist. There is just no way a modern president could make these sort of remarks in a modern SOTU address.
Abraham Lincoln, Dec. 13, 1861 excerpt:
The last sentence in the speech is, “With a reliance on Providence all the more firm and earnest, let us proceed in the great task which events have devolved upon us.” That’s how Abraham Lincoln said, “God Bless America.” Compare that shit to Obama’s 2012 SOTU style. Oh, how times have changed.
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