Wed Aug 29, 2012, 09:23 AM

kpete (38,867 posts)

TAIBBI Finishes Mitt Off: Greed and Debt: The True Story of Mitt Romney and Bain Capital

Last edited Wed Aug 29, 2012, 09:34 AM USA/ET - Edit history (1)

Greed and Debt: The True Story of Mitt Romney and Bain Capital
How the GOP presidential candidate and his private equity firm staged an epic wealth grab, destroyed jobs – and stuck others with the bill

Four years ago, the Mitt Romneys of the world nearly destroyed the global economy with their greed, shortsightedness and – most notably – wildly irresponsible use of debt in pursuit of personal profit. The sight was so disgusting that people everywhere were ready to drop an H-bomb on Lower Manhattan and bayonet the survivors. But today that same insane greed ethos, that same belief in the lunatic pursuit of instant borrowed millions – it's dusted itself off, it's had a shave and a shoeshine, and it's back out there running for president.

.........................

"But what most voters don't know is the way Mitt Romney actually made his fortune: by borrowing vast sums of money that other people were forced to pay back. This is the plain, stark reality that has somehow eluded America's top political journalists for two consecutive presidential campaigns: 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."

"By making debt the centerpiece of his campaign, Romney was making a calculated bluff of historic dimensions - placing a massive all-in bet on the rank incompetence of the American press corps. The result has been a brilliant comedy: A man makes a $250 million fortune loading up companies with debt and then extracting million-dollar fees from those same companies, in exchange for the generous service of telling them who needs to be fired in order to finance the debt payments he saddled them with in the first place..."

"If Romney pulls off this whopper, you'll have to tip your hat to him: No one in history has ever successfully run for president riding this big of a lie. It's almost enough to make you think he really is qualified for the White House."

Read more: http://www.rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829#ixzz24wOZQSKf

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53 replies	Author	Time	Post
TAIBBI Finishes Mitt Off: Greed and Debt: The True Story of Mitt Romney and Bain Capital (Original post)	kpete	Aug 2012	OP
Great article by Taibbi, a MUST read. (nt)	enough	Aug 2012	#1
Unfortunately, very few independents read Rolling Stone.	xtraxritical	Aug 2012	#17
Have they shared their demographics?	sufrommich	Aug 2012	#25
Well I sure hope you're right, I wish the NYTs would print this.	xtraxritical	Aug 2012	#33
Plus, it's too long and full of details and facts and stuff.	progressoid	Aug 2012	#44
GOOD COVER!!	ErikJ	Aug 2012	#47
now this is true justice	ThomThom	Aug 2012	#53
Facts? We ain't go no facts. We don't need no steenkin' facts!	tclambert	Aug 2012	#50
k&r...	spanone	Aug 2012	#2
My thought too...	BumRushDaShow	Aug 2012	#3
I believe Mitt stays within the very thinnest edge of the legal boundaries.	riderinthestorm	Aug 2012	#8
This is what makes Mitt the perfect candidate for the Koch's and GOP in general	Where was George	Aug 2012	#22
Private Equity sounds so much more refined than Junk Bond Dealer. So they changed their name,	jtuck004	Aug 2012	#46
Everyone in the Democratic Party should go find 2 uninformed persons & tell them this. nt	patrice	Aug 2012	#4
thanks,kpete for posting n/t	antigop	Aug 2012	#5
Kick and rec for Taibbi. nt	hifiguy	Aug 2012	#6
Yeah, he's part of the problem, not the solution	krispos42	Aug 2012	#7
+ 1,000,000	Botany	Aug 2012	#13
K&R	AnotherMcIntosh	Aug 2012	#9
KICKING!	calimary	Aug 2012	#10
Not incompetence by the American press corps. Collusion. nt	valerief	Aug 2012	#11
+1	freshwest	Aug 2012	#41
They're the ones making the Debt a core issue of the campaign....we need to drive this nail in deep!	cbdo2007	Aug 2012	#12
The best explanation of the looting of the economy	hifiguy	Aug 2012	#14
A takeover artist all his life, Romney is now trying to take over America itself.	Botany	Aug 2012	#15
Excellent article...well worth the time to read it...	truebrit71	Aug 2012	#16
This man can only be elected by a nation full of suckers.	summerschild	Aug 2012	#18
Sadly, I quote John "Bluto" Blutarski	Harry Monroe	Aug 2012	#39
The companion piece about the Bain Bailout is just as damaging, if not more ....	Vox Moi	Aug 2012	#19
Agreed	sunyasi	Aug 2012	#20
Isn't Bernie Madoff in jail for doing just that?	George II	Aug 2012	#21
after reading this article I'm now completely convinced that mittens is a sociopath. nt	Javaman	Aug 2012	#23
I just finished reading it, if this sociopath wins, we're screwed. nt	sufrommich	Aug 2012	#24
Worth the time to read	Grammy23	Aug 2012	#26
Greatest Paul Ryan description EVER	Brainstormy	Aug 2012	#27
Rmoney "has emerged now to sell this make-nothing, take-everything, screw-everyone ethos"	polichick	Aug 2012	#28
This "business model" also helps explain what happened 4 years ago.	Viva_Daddy	Aug 2012	#29
Bingo!	Hydra	Aug 2012	#31
kick for later. eom	ellenfl	Aug 2012	#30
Really good article	gopiscrap	Aug 2012	#32
K&R - Hope this doesn't get lost in Isaac and the RNC.. needs MAJOR media coverage. n/t	K Gardner	Aug 2012	#34
Finally in print what DU has been saying for a year.	grantcart	Aug 2012	#35
HUGE K & R !!!	WillyT	Aug 2012	#36
K&R	hay rick	Aug 2012	#37
Taibbi's Peabody - Excellent Expose	cantbeserious	Aug 2012	#38
that is exactly what a leverage buyout is all about....	WCGreen	Aug 2012	#40
kick	grantcart	Aug 2012	#42
Romney: 'The next president of the USA, Paul Ryan.' WOW, this just hit me.	freshwest	Aug 2012	#43
That sounds a lot like the GW Bush business plan.	MissMarple	Aug 2012	#45
I remember thinking Romney	Iwillnevergiveup	Aug 2012	#48
K & R	Amonester	Aug 2012	#49
and IMHO, the mormon "church" is nothing	Iggy	Aug 2012	#51
This message was self-deleted by its author	Iggy	Aug 2012	#52

Response to kpete (Original post)

Wed Aug 29, 2012, 09:38 AM

enough (6,902 posts)

TAIBBI Finishes Mitt Off: Greed and Debt: The True Story of Mitt Romney and Bain Capital

1. Great article by Taibbi, a MUST read. (nt)

17. Unfortunately, very few independents read Rolling Stone.

25. Have they shared their demographics?

33. Well I sure hope you're right, I wish the NYTs would print this.

44. Plus, it's too long and full of details and facts and stuff.

47. GOOD COVER!!

53. now this is true justice

50. Facts? We ain't go no facts. We don't need no steenkin' facts!

2. k&r...

3. My thought too...

8. I believe Mitt stays within the very thinnest edge of the legal boundaries.

22. This is what makes Mitt the perfect candidate for the Koch's and GOP in general

46. Private Equity sounds so much more refined than Junk Bond Dealer. So they changed their name,

4. Everyone in the Democratic Party should go find 2 uninformed persons & tell them this. nt

5. thanks,kpete for posting n/t

6. Kick and rec for Taibbi. nt

7. Yeah, he's part of the problem, not the solution

13. + 1,000,000

9. K&R

10. KICKING!

11. Not incompetence by the American press corps. Collusion. nt

41. +1

12. They're the ones making the Debt a core issue of the campaign....we need to drive this nail in deep!

14. The best explanation of the looting of the economy

15. A takeover artist all his life, Romney is now trying to take over America itself.

16. Excellent article...well worth the time to read it...

18. This man can only be elected by a nation full of suckers.

39. Sadly, I quote John "Bluto" Blutarski

19. The companion piece about the Bain Bailout is just as damaging, if not more ....

20. Agreed

21. Isn't Bernie Madoff in jail for doing just that?

23. after reading this article I'm now completely convinced that mittens is a sociopath. nt

24. I just finished reading it, if this sociopath wins, we're screwed. nt

26. Worth the time to read

27. Greatest Paul Ryan description EVER

28. Rmoney "has emerged now to sell this make-nothing, take-everything, screw-everyone ethos"

29. This "business model" also helps explain what happened 4 years ago.

31. Bingo!

30. kick for later. eom

32. Really good article

34. K&R - Hope this doesn't get lost in Isaac and the RNC.. needs MAJOR media coverage. n/t

35. Finally in print what DU has been saying for a year.

36. HUGE K & R !!!

37. K&R

38. Taibbi's Peabody - Excellent Expose

40. that is exactly what a leverage buyout is all about....

42. kick

43. Romney: 'The next president of the USA, Paul Ryan.' WOW, this just hit me.

45. That sounds a lot like the GW Bush business plan.

48. I remember thinking Romney

49. K & R

51. and IMHO, the mormon "church" is nothing