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Gender: Female
Member since: Tue Nov 8, 2005, 03:12 PM
Number of posts: 2,237

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Robert Reich answering questions on Reddit


The Inequity of Private-equity Hustlers

What are these phantasmagoric money machines that they call "private-equity firms?" They're much in the news these days, because a fellow who was a private-equity magnate is presently running for president. Mitt Romney piled up a quarter-billion-dollar personal fortune through his Wall Street equity outfit, Bain Capital, and he now claims that, because of his success in that business, he knows how to "fix" our economy.

Before you cheer that, note that private equity whizzes are all about The Fix not necessarily a good thing. They operate by borrowing big piles of cash at high interest rates from rich speculators to buy out XYZ Corp. Then, to meet the interest payments owed to the speculators (and to siphon off a financial killing for themselves), the fixers do two things: One, they plunder XYZ's assets, selling the profitable chunks of the corporation; and two, they severely downsize the XYZ workforce, firing as many workers as possible and demanding deep wage cuts and benefit givebacks from the employees they keep.

It's a raw redistribution-of-wealth scheme, shifting XYZ's wage payments from its many workers to a handful of wealthy high rollers. The process downsizes America's middle class, while creating no real economic value. Nothing equitable about it.


Mitt Romney: Mothers Should Be Required To Work Outside Home Or Lose Benefits

WASHINGTON -- Women who stay at home to raise their children should be given federal assistance for child care so that they can enter the job market and "have the dignity of work," Mitt Romney said in January, undercutting the sense of extreme umbrage he showed when Democratic strategist Hilary Rosen quipped last week that Ann Romney had not "worked a day in her life."

The remark, made to a Manchester, N.H., audience, was unearthed by MSNBC's "Up w/Chris Hayes," and will air during the 8 a.m. hour of his show Sunday.

Ann Romney and her husband's campaign fired back hard at Rosen following her remark. "I made a choice to stay home and raise five boys. Believe me, it was hard work," Romney said on Twitter.

Mitt Romney, however, judging by his January remark, views stay-at-home moms who are supported by federal assistance much differently than those backed by hundreds of millions in private equity income. Poor women, he said, shouldn't be given a choice, but instead should be required to work outside the home to receive Temporary Assistance for Needy Families benefits. "[E]ven if you have a child 2 years of age, you need to go to work," Romney said of moms on TANF.


Hey Ann Romney....

How about working to ensure that parents receive a living wage so they are able to have the choice of staying home to raise the children. Thanks.

Looking at the protest photos and I am left wondering..Why so few whites?

The murder of Trayvon Martin isn't about race. It was for George Zimmerman. That is plain for all to see and hear. For the rest of us, this murder should be about Trayvon Martin's rights. This beautiful child had every right to be walking down the street. He had every right to be left alone. George Zimmerman violated every one of his rights and yet he remains free to continue to enjoy his. Justice is not a black/white issue, yet I don't see an even representation of people standing up for this child. I know so many whites who believe that this murder is a complete injustice, so why the lack of representation on the ground? Where are all the high profile folks? I don't see them standing beside the Reverend Al. We need to come together in all ways to get justice for this child...this beautiful child.

(I shouldn't have to say it ...but I am a white female)
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