Mitt is in the deepest of trouble................

[michaelwise]

I heard Hannity say they will make Mitt Romney look like Gordon Gecko on steroids, which he is.

 

[Occam's Banana]

Thanks Occam's Banana, that clip is good.

You're welcome!

 

[anaconda]

This video should have sunk Hillary Clinton in 2007, but I never heard the issue raised by the media or her primary opponents. So my question is, how effective are videos at spreading a message that translates into voter decisions?



UPDATE: Oops..I now see that the video in the OP was actually released by the Gingrich PAC. This makes it more official and discussion worthy in the media and debates.

 

[anaconda]

Can somebody help me understand why a Canadian teachers' union would want to buy a closed-down washing machine plant? Instead of an operating one with a positive cash flow? I'm not seeing the market forces at work in this transaction..

 

[anaconda]

Can somebody tell me how Bain was insulated from bankruptcy proceedings in the case of the toy company? I must be missing something here...the toy company takes on loans and buys Bain stock in the marketplace? Then declares bankruptcy? I don't see how anyone wins here. It seems that the Bains stock and other assets would be used by the bankruptcy court to satisfy the lenders...

 

[anaconda]

Can somebody help me understand why investors would buy into a company (in this case DDI) that is affirmed only by some Wall St. company? I mean, isn't it clear that the "buy rating" is fraudulent? Aren't investors wise to this type of scheming? Furthermore, wouldn't any prudent investor clearly see that the recent profits in DDI were due to sudden reductions in payroll? Rather than an increase in sales? Again, I don't see the market forces working here..I must be missing something...Also, why would Lehman Bros. put their reputation on the line with a fraudulent buy recommendation?

 

[llepard]

Anaconda

Not sure on the washing machine co being bought. Need more facts. However these pension funds are big dumb buyers that are poorly managed by government bureaucrat types. Sounds like Bain bagged them.

The bankruptcy courts are corrupt. They do not look out for the creditor interests. They protect the guilty.

Lehman is BK because of stuff like this, and leverage. You would think that investors would be smarter than this but you must remember the big pools of capital are managed by people with the wrong incentives. See Canadian pension fund. Taking their money is child's play for skilled Harvard MBAs. The bankers tell a story and corrupt fund managers buy it because it is not their money. If you think there are real market forces t work here you are naive.

 

[cary]

The hope that government regulatory agencies effectively can combat fraud overlooks their nature and history. These agencies serve the interests of the regulated big players.

The term of art is "regulatory capture", but the term itself is misleading. It implies the wise and public-spirited government created the agency initially to police the industry. Only later was the agency "captured" by the big players.

The reality is often otherwise. Agencies are created at the behest of the big players themselves (usually by deceptive promotions extolling supposed public benefit), who seek to enforce a cartel on their industry. The Federal Reserve system is a prime example.

The net effect of government regulatory bureaucracies often is to foster unwarranted confidence. Ultimately it has been the markets that have brought down many of the headline frauds, while government alphabet bureaucrats looked the other way.

What to do? With investments, “buyer beware” comes to mind. For those selling labor for wages, “seller beware” likewise applies. If shady Wall Street insiders come to town to take over your trusted local employer, start looking for something else to do immediately. For many it will be extremely difficult, but at least your eyes will be open.

As Ron Paul has said, we need less regulation and more law enforcement. Unfortunately cronyists ensure their best shenanigans are legal. As we know, the foundation fraud is fiat money, with its agent, the Federal Reserve. Insiders know well how to work the system they have set up for their own benefit. All the fantastic promotions, innovations, and elaborations of the Masters of the Universe, with their special privileges and boggling leverage, are rooted in the foundation fraud.

 

[jolynna]

llepard - are you as surprised as i am that this film has certain truisms that reflected so poorly and correctly on the ego and attitude along with outright fraud of the Street, yet republicans are defending Mitt and Bain and all the evil they personified as if they were defending true capitalism....

it's strange, and i don't think a company like Bain would thrive or even exist in a true free capital marketplace. don't confuse a company like Bain as a "shiny example of capitalism."

Bain practices "extractionism" which is as far as you can get from "capitalism". "Extractionists" are greedy takers who use (even steal from) their "prey", regardless to the consequences to the victims, for profit: A clip from MSNBC about "extractionism": http://deeperwants.com/ratboys_anvil_2/2011/12/greedy-bastards-exactionism.html

 

[anaconda]

Anaconda

Not sure on the washing machine co being bought. Need more facts. However these pension funds are big dumb buyers that are poorly managed by government bureaucrat types. Sounds like Bain bagged them.

The bankruptcy courts are corrupt. They do not look out for the creditor interests. They protect the guilty.

Lehman is BK because of stuff like this, and leverage. You would think that investors would be smarter than this but you must remember the big pools of capital are managed by people with the wrong incentives. See Canadian pension fund. Taking their money is child's play for skilled Harvard MBAs. The bankers tell a story and corrupt fund managers buy it because it is not their money. If you think there are real market forces t work here you are naive.

Thanks for the insight, Larry. I'm surprised, however. I thought, when it came to money, investors were pretty savvy. I mean, why doesn't the Canadian pension fund hire a Harvard MBA, if that's what it takes?

 

[jolynna]

Can somebody help me understand why a Canadian teachers' union would want to buy a closed-down washing machine plant? Instead of an operating one with a positive cash flow? I'm not seeing the market forces at work in this transaction..

Here is how it works, everything you need to know about Wall Street (Mitt Romney's top donors) & why someone with Mitt's background would best qualify to do their work:
http://www.rollingstone.com/politic...-about-wall-street-in-one-brief-tale-20120113

 

[socal]

Can somebody tell me how Bain was insulated from bankruptcy proceedings in the case of the toy company? I must be missing something here...the toy company takes on loans and buys Bain stock in the marketplace? Then declares bankruptcy? I don't see how anyone wins here. It seems that the Bains stock and other assets would be used by the bankruptcy court to satisfy the lenders...

Bain's shares in KB Toys and KB Toys shares of the CEO, CFO, and other KB Toys insiders was brought out by cash on hand in KB Toys ($55 million) and loan proceeds ($65.6 million). Maybe Bain and the KB Toys executives still had some KB stock left once KB Toys became insolvent (stock then worthless), but they wouldn't have cared at that point since they already got tons of money, plus KB Toys insiders additionally got promissory note forgiveness plus bonuses. This thing looks like a total scam but I would have to read more to be sure.

http://www.bankruptcymisconduct.com...s/doc_download/61-big-lots-bain-a-glaser.html (pdf document)

 

[donnay]

Gingrich has asked for the creator of this video to remove the inaccuracies, or to pull it off the web altogether.

Of course, he damn well knew what was in the video. He just doesn't like the blowback.

UPDATE: Gingrich Urges PAC to Fix Any Errors in Anti-Romney Film or Pull the Film Entirely
http://www.businessweek.com/news/20...ac-to-fix-any-errors-in-anti-romney-film.html
January 14, 2012, 10:15 AM EST By John McCormick and Margaret Talev

Jan. 13 (Bloomberg) -- Newt Gingrich urged a political action committee that backs his bid for the Republican presidential nomination to fix any inaccuracies in a film it financed that attacks Mitt Romney’s role as a private-equity executive at Boston-based Bain Capital LLC. “I’m calling on them to either edit out every single mistake or to pull the entire film, but to not run the film if it has errors in it,” Gingrich said today as he campaigned in Orlando, Florida.

 

[llepard]

Thanks for the insight, Larry. I'm surprised, however. I thought, when it came to money, investors were pretty savvy. I mean, why doesn't the Canadian pension fund hire a Harvard MBA, if that's what it takes?

The Canadian and other pension funds would like to hire top talent but they are not set up to do so. First, they do not pay enough, it takes a smart peron to see some of this stuff. At salaries of $50-80k per year they are totally out gunned and intimidated by the LBO guys. They wish they were in the LBO biz. Think about it, a government bureaucrat and a multi-millionaire with the best education in the world debating whether or not something is a good investment. Then consider that the millionaire has an incentive to lie. The bureaucrat is naive and honest. Who do you think ends up with the money? Like poker, if you don't know who the sucker is ..... Also, at $50 K with no incentive upside or downside they just want to avoid being fired. So they do what is socially acceptable and safe. Bain is a blue chip name (not fully deserved) but they have good PR and are big. They all went to the right schools. They know the right people. So Mr middle manager pension fund guy thinks he is safe with them. It is an illusion of course. Also, it is not their money. The money belongs to retired teachers and such. If it were their own money they might be more shrewd. Also, Bain holds a nice conference every year in some posh spot for a week and encourages them to bring their whole family at Bain 's expense. Drinks, dinners, etc. For a government pension employee with modest salary it is a nice Perk. Of course the Bain guys are there to make them feel important. At the end of the conference Bain tells them they expect their fund to put $50 mm into the next Bain fund. No pressure of course. The fund is oversubscribed and they need a firm commitment soon or else they will give their valuable slot to someone else. It is all a bluff of course but the rubes don 't stand a chance.

 

[Kevin Smyth]

People have already seen this video and they don't care, everyone already knew Romney was rich and was a corporate CEO. 15 houses won't harm him either, many Republicans love that kind of greed, they wish they could live that way. That's one of the reasons why my mother is voting for him because she loves pompous rich people.

 

[anaconda]

Bain's stock in KB Toys and the stock of the CEO, CFO, and other KB Toys insiders was brought out by cash on hand in KB Toys ($55 million) and loan proceeds ($65.6 million). Maybe Bain and the KB Toys executives still had some KB stock left once KB Toys became insolvent (stock then worthless), but they wouldn't have cared at that point since they already got tons of money, plus promissory note forgiveness. This thing looks like a total scam but I would have to read more to be sure.

http://www.bankruptcymisconduct.com...s/doc_download/61-big-lots-bain-a-glaser.html (pdf document)

I'm not clear on how the toy company became "insolvent."

 

[ProBlue33]

I watched it, and wow, the thing that comes to my mind is the comparison in character between Ron Paul, one principled and kind, the other greedy and nasty.
Another Wall Street lacky, do you really think ANY democrats would ever vote for him after watching this, NEVER. Mitt can't beat Obama with this in his past.
GOP primaries voters need to watch this and be made to understand this is what Mitt will be facing in the general election, it's a sure recipe for losing.
And people say Ron can't win, this 100% times worse.

Help us Ron Paul your our only hope

 

[llepard]

Thanks for the insight, Larry. I'm surprised, however. I thought, when it came to money, investors were pretty savvy. I mean, why doesn't the Canadian pension fund hire a Harvard MBA, if that's what it takes?

I'm not clear on how the toy company became "insolvent."

Too much leverage, deteriorating economics. Bain had already made their money. Bain wins. Banks and employees lose.

 

[LibertyIn08]

The Canadian and other pension funds would like to hire top talent but they are not set up to do so. First, they do not pay enough, it takes a smart peron to see some of this stuff. At salaries of $50-80k per year they are totally out gunned and intimidated by the LBO guys. They wish they were in the LBO biz. Think about it, a government bureaucrat and a multi-millionaire with the best education in the world debating whether or not something is a good investment. Then consider that the millionaire has an incentive to lie. The bureaucrat is naive and honest. Who do you think ends up with the money? Like poker, if you don't know who the sucker is ..... Also, at $50 K with no incentive upside or downside they just want to avoid being fired. So they do what is socially acceptable and safe. Bain is a blue chip name (not fully deserved) but they have good PR and are big. They all went to the right schools. They know the right people. So Mr middle manager pension fund guy thinks he is safe with them. It is an illusion of course. Also, it is not their money. The money belongs to retired teachers and such. If it were their own money they might be more shrewd. Also, Bain holds a nice conference every year in some posh spot for a week and encourages them to bring their whole family at Bain 's expense. Drinks, dinners, etc. For a government pension employee with modest salary it is a nice Perk. Of course the Bain guys are there to make them feel important. At the end of the conference Bain tells them they expect their fund to put $50 mm into the next Bain fund. No pressure of course. The fund is oversubscribed and they need a firm commitment soon or else they will give their valuable slot to someone else. It is all a bluff of course but the rubes don 't stand a chance.

What about CPPIB?

 

[llepard]

What about CPPIB?

What is CPPIB? What is the question?