Ken Blackwell (the criminal) talks about the market while on LSD!

[Joanne98]

HEEEEEEEEESSSS BAAAAAAAACCCCCCKKKKKKK!!!!!!!!


KEN BLACKWELL COMMENTARY: American Private Equity: A Cow To Milk Or Butcher

The conservative Republican commentator opines: "Specifically, the members of Congress have placed a 130% tax increase bullseye squarely on the backs of fund managers. These are hyper-aggressive and competitive financial managers who work hard, take risks, drive innovation, and earn tens of millions of dollars on a single completed deal. In Washington, the issue seems like a politician’s win-win. The argument goes: Why not fillet and cook these jet-setters to feed the insatiable appetite of big government for higher taxes? Popular opinion certainly isn’t on the side of these managers, despite their contributions to domestic economic growth. Most people still picture these guys as the 'greed is good' shouting Gordon Gekkos from the 1980s era film of financial cautionary tale 'Wall Street.'"

He continues: "The funds these individuals have made so profitable have an enormously positive impact on the U.S. economy and Main Street America. Ham-handedly tinkering with such an important capital driver will have a negative impact on the nation’s economic vitality. In the past two decades, these funds have yielded returns in the hundreds of billions — benefiting a wide array of individuals and projects. From constructing shopping malls, office buildings, and hotels to funding pensions for teachers, firefighters, and police officers, the funds’ capital investments have substantially contributed to job creation and improvement in the quality of life many Americans enjoy."

And more: "The U.S. economy is losing jobs to foreign competitors. The departure of private equity capital will almost certainly guarantee job loss and shake our mercurial economy. The situation becomes dire when you factor in extremely high corporate tax rates. Our main global competitors all have lower corporate taxes. With substantially lower tax rates and seemingly boundless growth potential, China, India, and many Eastern European countries are posed to dominate the global private equity market. These nations will be bolstered by the inevitable influx of American investor capital and the valuable expertise of our private equity managers. The managers will find it more profitable to grow other economies."
Labels: Economy
http://bookerrising.blogspot.com/2007/08/ken-blackwell-commentary-american.html

[msongs]

1. sounds like you oughta move overseas yerself mr. blackwell its it's so great nt

[Joanne98]

2. They just never ever stop. Talking crap right up the the moment to cell door slams.

[razors edge]

3. Stop spending

a trillion a year on the Department of Offense and we could cut everyone's taxes, and still manage to find a way to feed the hungry.

[On the Road]

4. Dear Mother of God...

"drive innovation"?
"their contributions to domestic economic growth"?
"have an enormously positive impact on the U.S. economy and Main Street America"?
"have substantially contributed to job creation and improvement in the quality of life"?

I have an MBA and I have no idea what this fool is saying. They're skimming profits off of everyone else.

I'm not in favor of outlawing or being punitive toward hedge funds -- just regulate them so they don't take down the whole country if they fail.