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Milken went to prison for 22 months...Mittens? Not so much

Mitt and the junk bond king

By Michael Kranish and Beth Healy
Globe Staff / June 24, 2012

It was at the height of the 1980s buyout boom when Mitt Romney went in search of $300 million to finance one of the most lucrative deals he would ever manage. The man who would help provide the money was none other than the famed junk-bond king Michael Milken. What transpired would become not just one of the most profitable leveraged buyouts of the era, but also one of the most revealing stories of Romney’s Bain Capital career. It showed how he pivoted from being a relatively cautious investor to risking his reputation for a big payoff. It is one that Romney has rarely, if ever, mentioned in his two bids for the presidency, perhaps because the Houston-based department store chain that Bain assembled later went into bankruptcy. But what distinguishes this deal from the nearly 100 others that Romney did over a 15-year period was his close work with Milken’s firm, Drexel Burnham Lambert Inc. At the time of the deal, it was widely known that Milken and his company were under federal investigation, yet Romney decided to go ahead with the deal because Drexel had a unique ability to sell high-risk, high-yield debt instruments, known as “junk bonds.”

The Obama campaign has criticized the deal as showing Romney’s eagerness to make a “profit at any cost,” because workers lost jobs, and challenged Romney’s assertion that his business background best prepares him for the presidency. Romney, meanwhile, once referred to the deal as emanating from “the glorious days of Drexel Burnham,” saying, “it was fun while it lasted,” in a little-noticed interview with American Banker magazine. The “glorious” part, for Romney at least, was that he used junk-bond financing to turn a $10 million investment into a $175 million profit for himself, his partners, and his investors. It marked a turning point for Romney, according to Marc Wolpow, a former Drexel employee who was involved in the deal and later was hired by Romney to work at Bain Capital.

“Mitt, I think, spent his life balanced between fear and greed,” Wolpow said. “He knew that he had to make a lot of money to launch his political career. It’s very hard to make a lot of money without taking some kind of reputational risk along the way. It’s just hard to do. It doesn’t mean you have to do anything illegal or immoral, but you often have to take reputational risk to make money.”


Mitt's Resume

Mitt Romney

Belmont, Massachusetts
Wolfeboro, New Hampshire Lakehouse
La Jolla, California Beach house with 4-car elevator
Park City, Utah Compound (Nothing like "Big Love", so stop saying that)


Email: ImMITTdammitt@xyc.com

Summary of Qualifications

I am an expert at making money
I say JUMP, the employees say "How High, Sir?"

Work Experience

2/1999 - Present*

1985 - 2/1999
Started the company, was 100% stockholder, CEO, Chairman of the Board, Head Honcho, THE BOSS, El Supremo, El Jefe


Private Academy in Detroit*
While at the Academy I excelled at the extreme sport of Running with Scissors.

* There was a time when I "retreated" from Bain to take over an event of "sport"..and another time when I had a high-powered job in another state..a job /state that cannot be spoken about.

While a young man, I did protest during the Viet Nam War, and to show how dedicated I was to the fact that the dirty hippies against the war were all wrong, I went to France for 30 months on a (rare) solo Mormon mission. France was marvelous.

In summary:

I am adamant about the fact that my last day of "work" was in February of 1999.

I like trees that are the right height, cookies that do not come from 7-11, chocolate goodies (Aka as donuts, to the common people).

I like dogs (as long as they do not crap all over the car roof on long trips)

When handed a cool beverage, I am wont to muse "Lemon-wet-good".

(newspapers, the day after election) Office Space for Rent


He's sure getting ahead of himself, isn't he?


Romney victory office opens in Westwood

Greensburg Victory Office Grand Opening! | Mitt Romney for President
16 hours ago – 23 N. Maple Ave., Greensburg, PA 15691;

Romney victory office opens in Westwood | Politics | Westside News
2 days ago – The Westwood Victory Office for the Romney for President and Republican Victory operations in Hamilton County is located on Montana ...

Romney 'Victory Office' opens in Clermont County | News | Clermont ...

Romney 'Victory Office' to open in Stratham | SeacoastOnline.com

Romney Victory Office Opens in Centerville - YouTube
► 0:42► 0:42

24, 2012 - 42 sec - Uploaded by WKEFandWRGT

Mitt Romney Campaign, Pensacola Victory Office is on Facebook. To connect with Mitt Romney Campaign, Pensacola Victory Office, sign up for Facebook today.

Adams County Romney Victory Office is OPEN! | North Suburban ...

Romney/Victory Office Opening in Wolfeboro


Romney on his faith (from 2007..with video)

Found this at
the guy seems quite odd, but the info below is from CNN..

By Kristi Keck
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(CNN) -- White House hopeful Mitt Romney on Thursday articulated his position on the role of religion in America, but avoided details about his personal faith. Romney, who hopes to become the first Mormon president, said "religious tolerance would be a shallow principle, indeed, if it were reserved only for faiths with which we agree."

"There are some who would have a presidential candidate describe and explain his church's distinctive doctrines. To do so would enable the very religious test the founders prohibited in the Constitution," the former Massachusetts governor said. "No candidate should become the spokesman for his faith. For if he becomes president he will need the prayers of the people of all faiths."

CNN contributor Bill Bennett said he wasn't sure Romney addressed the concerns voters might have with Mormonism, but, he added, "I don't think he had to." "I can see this speech he just gave being given by any of the Republican candidates and most of the Democratic candidates, frankly. I'm not sure he was responding to the concern 'what about this Mormon thing?' " Bennett said. "I think he will probably get more questions on it, not fewer."

Another CNN contributor, Roland Martin, said the setting for the speech was a good one -- "in the heart of the Bible Belt." Video Watch Bennett and Martin debate the effectiveness of Romney's speech »


videos... http://www.cnn.com/2007/POLITICS/12/06/romney.speech/index.html#cnnSTCVideo

The Romney Rat Club

Who's the leader of the club
That's made for super rich like me
M-I-T-T-E-Ns R-O-M-N-Eeeee
Hey! there, Hi! there, Ho! there
You're as Fucked as you can be
M-I-T-T-E-Ns R-O-M-N-Eeeee

M-I-T-T-E-Ns R-O-M-N-Eeeee

M-I-T-T-E-Ns R-O-M-N-Eeeee

Forever let us hold our bankbooks
High! High! High! High!

Come along and sing a song
And join the jamboree!
M-I-T-T-E-Ns R-O-M-N-Eeeee

M-I-T-T-E-Ns R-O-M-N-Eeeee club
We'll nix the votes
We'll pile the cash
High! High! High! High!

We'll do things and
We'll go places
All around the world
We'll go to Switzerland, Bermuda & the Caymans

Who's the leader of the club
That's made for me and mine
M-I-T-T-E-Ns R-O-M-N-Eeeee
Hey! there, Hi! there, Ho! there
You're as welcome as can be
M-I-T-T-E-Ns R-O-M-N-Eeeee

Ten Urgent Questions About Mitt and Ann Romney on a Boat

This is a fun article


Mitt Romney, Ann Romney, and an estimated thousand or so other Romneys have been photographed on another boat cruising New Hampshire’s Lake Winnipesaukee. Ten questions immediately spring to mind.

10. Why are the children the only ones wearing life preservers?


6. The redhead kid in the center of the boat doesn’t give a shit about being on this boat. We admire that quality in him.
5. That wasn’t a question, but this is: what do you think he’s thinking about/looking at, if not the lake?
4. Does the redheaded kid’s life preserver appear to be a different color from the standard Romney family BODYGLOVE-make life preservers?
3. Did Romney name his boat “NH 6040 BL”?


Gray skies are('nt) gonna clear up

Perfect new ad for Obama

shows tax forms fluttering down from above.

voice over:

Romney gave John McCain TWENTY THREE YEARS of his tax forms when he wanted to be picked for VICE president.

John McCain picked Sara Palin..

What WAS in those tax forms?

What a difference 4 years makes.. Beijing's olympic venues now.. :(


They sure did not capitalize on all that money they spent building it all, did they?

And to build it, they "removed" many many poor people and destroyed a LOT of historical neighborhoods that were actually a tourist draw..

NOW: A dog sits atop glass plates at a deserted field that was once part of the stadium where the 2008 Olympic Games baseball competition was held in central Beijing March 30, 2012. (Photo by David Gray/Reuters)

Photo gallery of all Olympic uniforms


My favorites:

when women figure skaters still looked like women..not like emaciated stick-figures


healthy,normal female bodies.
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