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Jester Messiah

(4,711 posts)
Wed Jun 1, 2016, 09:57 AM Jun 2016

Bill Clinton Gave a Six-Figure Speech to a Controversial Vulture Fund as His Wife Ran for President

On May 12, 2015, the private equity firm Apollo Global Management announced that it was unloading the remainder of its stake in Noranda Aluminum. Apollo had gained control of the Tennessee-based company in a 2007 leveraged buyout and had subsequently followed a familiar playbook in the cutthroat world of corporate takeovers: It saddled Noranda with the debt it had used to buy the company and then extracted large dividends. As Noranda struggled to stay solvent, Apollo eventually cashed out of the firm. In early 2016, the debt-riddled aluminum company declared bankruptcy, shut down its largest smelting plant in Missouri, and laid off hundreds of employees.

That same day in 2015 that Apollo disposed of its stake in Noranda, Bill Clinton pocketed $250,000 for a speech to one of its subsidiaries, Apollo Management Holdings.


The Clinton family. Fighting for you. Oh, uh wait... nope, just fighting you.

http://www.motherjones.com/politics/2016/06/bill-clinton-gave-six-figure-speech-vulture-fund-apollo
45 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Bill Clinton Gave a Six-Figure Speech to a Controversial Vulture Fund as His Wife Ran for President (Original Post) Jester Messiah Jun 2016 OP
The 16th can't get here soon enough n/t SFnomad Jun 2016 #1
Yes, all dissent must be silenced and punished, mustn't it? Jester Messiah Jun 2016 #2
Nope, just crap OP after crap OP ... this place won't look like a right wing sewer much longer n/t SFnomad Jun 2016 #5
Maybe if the Clintons stopped doing shady shit there wouldn't be these things to post? Matt_in_STL Jun 2016 #12
The right wingnuts always find something to post, even if they have to make it up n/t SFnomad Jun 2016 #21
Damn FBI and State IG, making shit up. Matt_in_STL Jun 2016 #22
Right wingnuts making shit up out of whenever the FBI or State IG posts n/t SFnomad Jun 2016 #23
Why are you posting in a thread GRhodes Jun 2016 #33
So now you're stalking me from thread to thread ... buh bye SFnomad Jun 2016 #34
Good GRhodes Jun 2016 #35
Man you BS cheerleaders sure are angry, bitter people that have a superiority complex n/t SFnomad Jun 2016 #36
I thought bye GRhodes Jun 2016 #37
And you people sink deeper and deeper into the sewer n/t SFnomad Jun 2016 #38
Post removed Post removed Jun 2016 #42
How would an article like this not get posted in 14 days? GRhodes Jun 2016 #27
So once again Mother Jones is right wing crap. Miles Archer Jun 2016 #43
Brock headquarters GRhodes Jun 2016 #44
Posts hidden by Jury: 8 chascarrillo Jun 2016 #3
And you have 2 posts hidden by Jury ... n/t SFnomad Jun 2016 #4
Camp Coward HATES Criticism TheSarcastinator Jun 2016 #6
And Camp Loser would rather #BernDownTheHouse n/t SFnomad Jun 2016 #10
Nice Trump impression you got there. n/t Jester Messiah Jun 2016 #14
It was a reply to the "Camp Coward" crack ... of course, you don't care about that tRump impression SFnomad Jun 2016 #16
Can you comment on the contents of the OP? GRhodes Jun 2016 #28
No, because I'm not going to have you try to tell me what I should be outraged over SFnomad Jun 2016 #29
No... GRhodes Jun 2016 #30
tl;dr ... buh bye SFnomad Jun 2016 #31
and it wont. reddread Jun 2016 #11
This message was self-deleted by its author ucrdem Jun 2016 #7
Saddling a company with the debt used to buy it and then extracting dividends should be illegal. raging moderate Jun 2016 #8
This message was self-deleted by its author Press Virginia Jun 2016 #26
Them's good people! Nt Bonobo Jun 2016 #9
Breaking: Former President gives speech a year ago. MineralMan Jun 2016 #13
Breaking: Another example of Clinton corruption brought to light. Scuba Jun 2016 #15
Good for him. Lil Missy Jun 2016 #17
Do you know what vulture funds are? GRhodes Jun 2016 #32
it was a speech, ffs. He makes a lot of $$$. Lil Missy Jun 2016 #39
This isn't condemning everything GRhodes Jun 2016 #40
It's supposed to Trickle Down. Octafish Jun 2016 #18
I'm just gonna avoid the obvious joke there. Jester Messiah Jun 2016 #19
Money is money. To those that worship it, they will do whatever it takes to acquire it. NorthCarolina Jun 2016 #20
The Clintons want it all -- to get rich AND return to the White House Dems to Win Jun 2016 #24
That same day in 2015 that Apollo disposed of its stake in Noranda, Bill Clinton pocketed $250,000 think Jun 2016 #25
Thanks for bringing this to light Jester trudyco Jun 2016 #41
what a complete asshole! Cobalt Violet Jun 2016 #45
 

Matt_in_STL

(1,446 posts)
12. Maybe if the Clintons stopped doing shady shit there wouldn't be these things to post?
Wed Jun 1, 2016, 10:23 AM
Jun 2016

Just a thought.

GRhodes

(162 posts)
33. Why are you posting in a thread
Fri Jun 3, 2016, 02:26 AM
Jun 2016

in which you admit you refuse to read the contents of the OP that started the thread?

GRhodes

(162 posts)
35. Good
Fri Jun 3, 2016, 02:30 AM
Jun 2016

get the hell out, bye. Defending him getting paid by fucking vulture funds. There's no bottom you people won't sink to, and you can't even be bothered to at least read the contents of the article that started this thread. Why post in the first place? I can't imagine supporting a candidate that leads me to defending stuff like this, then talking drivel about "free markets". When I first heard about this, I was shocked, but then again, I have a moral compass.

GRhodes

(162 posts)
37. I thought bye
Fri Jun 3, 2016, 02:38 AM
Jun 2016

I am angry at people like you, because you defend immoral things and provide cover for things any moral and progressive person should challenge. Anyone with a moral compass is superior to you. Bye.

Response to SFnomad (Reply #38)

GRhodes

(162 posts)
27. How would an article like this not get posted in 14 days?
Fri Jun 3, 2016, 01:47 AM
Jun 2016

The right wing thing isn't pointing how horrible it is that he did this, the right wing thing is what he did! How is this not clear to you? Why would you want to be shielded from this information? You should be challenging him on this, even if you support his wife. How utterly pathetic.

Miles Archer

(18,837 posts)
43. So once again Mother Jones is right wing crap.
Fri Jun 3, 2016, 10:45 AM
Jun 2016

And Bill Clinton DID NOT pocket $250,000 for a speech to a vulture fund group.

Thanks for setting the record straight.

By the way...what is your source that proves this is right wing crap?

 

SFnomad

(3,473 posts)
16. It was a reply to the "Camp Coward" crack ... of course, you don't care about that tRump impression
Wed Jun 1, 2016, 11:17 AM
Jun 2016

If you're going to dish it out, you better learn how to take it.

GRhodes

(162 posts)
28. Can you comment on the contents of the OP?
Fri Jun 3, 2016, 01:49 AM
Jun 2016

It's relevant, it's important, it's something anyone even on the moderate left should have to address. You've gotten your evading and name calling out the way, we get it. Now, address the right wing thing that Bill Clinton did, pretend YOU are a progressive for arguments sake, and respond to what he did.

 

SFnomad

(3,473 posts)
29. No, because I'm not going to have you try to tell me what I should be outraged over
Fri Jun 3, 2016, 02:08 AM
Jun 2016

That's so right wing.

What Bill Clinton did wasn't "right wing" .. no matter how you try to define it as such. He gave an address to a group and they paid him for it ... that's called the free market. Why do you hate it so much?

GRhodes

(162 posts)
30. No...
Fri Jun 3, 2016, 02:22 AM
Jun 2016

pathetic and cowardly. Do you know what vulture funds are? Bill Clinton is insanely rich, doesn't really need any more money, but he still went and spoke to people that make money off of screwing over poor countries and governments, and they paid him lots to do so, while his wife is running for president. Stupid and arrogant.

Why the hell do you post on threads in which you don't even read the contents of the OP? You either are paid to post here or you have issues. If this site protects you from information like this, it's doing its party a disservice, and I don't think it will. The message that was given said they would allow actual critiques, and this would qualify as that.

"that's called the free market. Why do you hate it so much?"

If I was paid to dump poison in the water you drink, and you got cancer, would it be okay to criticize the "free market"? If I was paid to steal money from you, would it be okay to criticize the "free market"? I don't hate the "free market", since that term has an actual definition that has nothing to do with this, I hate people that provide cover for this, post on threads without reading the contents of the OP and make excuses for immoral things like this.

I'd ask you for a definition of right wing, but you don't know what you're talking about, and I'd only be asking so that others could see further evidence of that.

Response to Jester Messiah (Original post)

raging moderate

(4,297 posts)
8. Saddling a company with the debt used to buy it and then extracting dividends should be illegal.
Wed Jun 1, 2016, 10:09 AM
Jun 2016

Is anybody working to make that illegal? Also, they should undo that nasty little change they did in which they stopped counting the employee pension fund (with all those required employee contributions in it) as a debt owed to the employees and started counting it as an asset to be awarded to the cutthroat takeover con artists.

Response to raging moderate (Reply #8)

GRhodes

(162 posts)
32. Do you know what vulture funds are?
Fri Jun 3, 2016, 02:24 AM
Jun 2016

What the hell do you mean good for him? Explain why it's good, and not something that should be roundly condemned even by his wife's supporters.

Do you people realize that there's already a right wing party in the US? Isn't one of the two major parties enough?

Lil Missy

(17,865 posts)
39. it was a speech, ffs. He makes a lot of $$$.
Fri Jun 3, 2016, 04:10 AM
Jun 2016

It's time to stop condemning everything Clinton and use that energy against Donald and the GOP.

GRhodes

(162 posts)
40. This isn't condemning everything
Fri Jun 3, 2016, 09:37 AM
Jun 2016

Last edited Fri Jun 3, 2016, 10:48 AM - Edit history (1)

This is condemning him speaking to vulture funds and selling his damn soul for money. Your defense of him says a lot about you and what your party has become. Why also should you stop critiquing and pushing whoever gets elected? There aren't gods, they should all be challenged, and that would be the case if Sanders won. You're arguing to give the right a monopoly on pushing Clinton, which is nuts. There isn't anything different about you from a right wing Republican on ideological or moral grounds. I hope you aren't one of those people that says stuff like this but still pretends to be progressive. I also hope you don't know what vulture funds are and what they've done, and are just reflexively defending Clinton.

 

think

(11,641 posts)
25. That same day in 2015 that Apollo disposed of its stake in Noranda, Bill Clinton pocketed $250,000
Fri Jun 3, 2016, 01:06 AM
Jun 2016

Birds of a feather....

trudyco

(1,258 posts)
41. Thanks for bringing this to light Jester
Fri Jun 3, 2016, 09:54 AM
Jun 2016

Vulture Capitalism is another legal loophole we need to close. To me, stocks and investments should be about investing in companies and not gambling. I don't know if we should rid ourselves of Hedge Funds that don't have an actual commodity associated with it (like you can't hedge on a hedge), derivatives, selling short and other means of basically gambling instead of investing. Maybe it's like temperance, it will just go underground, so we should tax the hell out of it. I think that's Bernie's thinking. But we should protect pension funds, and I think we should eliminate vulture capitalism - maybe every state has a state bank and the venture group has to get their debt from that bank. If the bank deems it disastrous to the company then they can chose not to lend the money. If a company spans multiple states then the venture capitalists have to convince each state bank to loan them a percentage based on the size of that company's presence in the state. That should slow down mergers and swallowing of big companies. The bigger they are, the more states they span, the harder to get the debt. And the money is kept in the local areas.

Similarly if a company wishes to move into a neighborhood and build it's big box, it needs to get the capital for that from loans from the state bank. The company may lure local politicians into giving sweet deals on tax breaks, but the bank may decide to loan the company money at one rate if they make good on their promises of cash flow and jobs into the state, and a higher rate if the company doesn't make good on their promises. If the bank makes a profit for the year it can give out higher interest to the savers who bank there. So the money is given back to the residents of the state.

I think we need to bring the exchange of money back to the local level. Just like we need to bring CEOs and executive staff back into sharing the same pain as the other employees of a company. Exact same retirement plan, exact same layoff plan, exact same insurance, if the company is public then the exact same stock plan - just with a higher multiplier to recognize the higher position.

The 1% have been walling themselves off from the rest of us. It's time to tear down those walls and make them realize what neighborhood they live and work in. It's really the same neighborhood as us.

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