Romneyfied

You have worked for a company for 20 years and you are entitled to whatever you saved within that time. Nothing less and nothing more. If the owner decides to sell HIS company to Bain or any other venture capital company, you go get another job, be a man and don't cry and whine to the rest of the world.

Love how the pic says "YOU have worked for a company" and the next sentence says "Bain capital takes over YOUR company", like they somehow became the owner. It is not your company and you have no rights to it, good gawd you fucking entitlement whiners are a disgrace to all Americans.

You have worked for a company for 20 years and you are entitled to whatever you saved within that time. Nothing less and nothing more. If the owner decides to sell HIS company to Bain or any other venture capital company, you go get another job, be a man and don't cry and whine to the rest of the world.

Love how the pic says "YOU have worked for a company" and the next sentence says "Bain capital takes over YOUR company", like they somehow became the owner. It is not your company and you have no rights to it, good gawd you fucking entitlement whiners are a disgrace to all Americans. Originally Posted by nwarounder

Do you not understand how shitty it would be if the retirement benifits that the company had promised you were wiped off the books after Bain took over?

How about they take the money back they paid the CEO and give that to Bain too? Do you think the CEO would have made that deal?

Why don't you educate yourself on how these things work before making a fool of yourself by blindly parroting wtf Fox News says about this BS.

If a person has a defined contribution plan, like a 401k, they would always be able to get their donations back. After a certain period, the company donations vest in the employee as well. Those accounts are pretty well protected by the IRS, so I don't think they could take that kind of retirement plan. Unvested employer contributions, yes.

Is there a real world example of what Louie described? Or is this like his other stuff. Make something up, tell us how bad it is and blame Republicans. Except it didn't happen. Just wondering.

Is there a real world example of what Louie described? Or is this like his other stuff. Make something up, tell us how bad it is and blame Republicans. Except it didn't happen. Just wondering. Originally Posted by CuteOldGuy

Read this and then tell me wtf you think about ole Mitt. These fucking assholes are gaming the system.


http://www.pubtheo.com/page.asp?PID=1743



It would take a few more years of bleeding, but GSI eventually fell to bankruptcy.

The Kansas City mill closed for good; 750 people lost their jobs. Worse, Romney had shorted their pension fund by $44 million. The feds were forced to cover the difference, while workers saw benefits slashed in bankruptcy court.

The battered Georgetown plant and the foundries in Arizona and Minnesota ultimately were bought out of bankruptcy by new companies. Their work forces were halved.

Still, Romney walked away unbruised. All that debt was technically GSI's, not Bain's. Because he'd repaid himself and his investors just months after the purchase, Romney pocketed millions for running the company into the ground.

"They were clever and ruthless enough to pay their own investors back at a really high return rate," says Foster.

This was the beauty of Romney's racket. Even if he killed a company — and he tended to kill them fairly often — he still made out, leaving others to take the hit.

Well, I'm not sure that site presents an unbiased review of the facts. As I have said, Romney is only marginally better than Obama, and in the long run, the difference is negligible. Still, I have several renditions of these facts, and it depends on the point of view of the writer who the bad guy is.

The difference between President Obama and Mitt Romney is like night and day and only a complete imbecile could not see the difference.

President Obama's main focus is helping his country. He has demonstrated that by reversing the course this country was in when Bush finished fucking up the economy.

Mitt Romney main purpose is helping himself and his cronies. He demonstrated that at Bain Capital and other companies. He buys companies in distress and sells off the parts for a profit.

Mitt is like a white-collar thief who steals a car and sells the parts and makes a killing.

. . .The people hurt in the process are not important to him, they are just collateral damage in a profit making business.

. Still, I have several renditions of these facts, and it depends on the point of view of the writer who the bad guy is. Originally Posted by CuteOldGuy

You asked me to provide real world proof that Bain shorted the employee's pension. I did. The Federal Government had to make it up. Mitt buys a company on basically margin. Borrows money with that company's assets , pays himself and investors up front with that money and then if the company can not repay that debt he drives it into bankruptcy and then we the people have to bail the retiree's out. That is no different than the massive bank bailouts that Mitt was/is for.

Mitt was not for the auto Bailouts but the big bank bailouts he was all for. Why a reasonable man might ask? Because those guys are doing exactly wtf he was doing. He/they are not job creators.

Lastly it is up to you to decide who the bad guy is, not the writer. If you think wtf these guys do is a good thing, fine. I happen not to.

If it went down the way you say it did, of course it's not a good thing. If that was all Bain Capital did, of course it's not a good thing. I'm just not sure what the true facts are, I've read numerous accounts of the same event.

So you're trying to say that Romney is a dishonest, scamming, selfish liar. Duh. He's an establishment politician. Marginally better than Obama, but not by much. The best thing about Romney is that he could deny Obama a second term.

If it went down the way you say it did, of course it's not a good thing. If that was all Bain Capital did, of course it's not a good thing. I'm just not sure what the true facts are, I've read numerous accounts of the same event.

. Originally Posted by CuteOldGuy

It is going down just like SS will go down. we as a country are paying the Military Complex upfront, along with the bankers. They are like the CEO's. The white collar portion of the company. They get their money up front and the workers get told that they will be taken care of in old age. Meanwhile the CEO's are taking from these retirement funds. When it comes time to actuall retire the workers will be screwed.

What Bain did is exactly what is playing out on a broader spectrum. Only there will be no bailout for the people. It really has become a nation of 1%'ers vs the rest of us.

Each person has a right to make up their own minds on if that is a good thing.

I happen to not think so.

What BO did to GM is X10s biglouie.

What BO did to GM is X10s biglouie. Originally Posted by TheDaliLama

the difference is that Mitt extracts money from the company at workers expense and Obama did it at a cost to bondholders. One is much more job friendly. I let u guess which one that might be

Job friendly? That's BS. Talk about picking up a turd by it's clean end.

More people lost their jobs (union jobs) at GM because of BO than all of Romney's stuff put together and many of their models are no longer continued and their factories were shut down.

Question, who was in charge at Bain when GS Steel was liquidated?

Question, how long after acquiring GS did Bain wait to liquidate?

Question, how many steel companies were left in the US around that time?

Question, how much money has Obama squandered on his "green jobs" program and at the cost of how many jobs? Where did the money come from that Obama invested?

There is plenty of truth on which Romney may be defeated. Why does Obama resort to these lame tactics?