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Comparing Track Records: Mitt Romney's Private Equity vs Barack Obama's Public Equity

Tyler Durden's picture


By now everyone is well aware what the main tension involving this year's presidential campaign as far as Mitt Romney is concerned, will be his professional past, namely his experience at, and exposure to, Bain Capital. By now most have also gotten a sense of the angle of attack that the incumbent will rely on in order to discredit his GOP challenger, and if they haven't, they will soon enough: after all in Obama's own words "Mitt Romney's record at Bain Capital is what this campaign is going to be about." In other words, Romney's history with managing private (emphasis added) equity. Yet at Marc Thiessen at the WaPo points out, the logical retort from the Romney camp would be to shift attention to something potentially more embarrassing: Obama's record with public equity. Because, frankly, it is deplorable. And while one may debate the number of job losses at the companies that Bain took private, the driving prerogative for Romney was to generate value for his investors and shareholders. This in itself will hardly be debated by Obama. In other words, for any and all of his other failings, Romney succeeded at his primary task. The question then is: did Obama do the same? Did he succeed in investing public equity, i.e., the taxpayer capital that the US financial mechanism has afforded him. Sadly, the answer appears to be a resounding no.

As Thiessen notes:

Since taking office, Obama has invested billions of taxpayer dollars in private businesses, including as part of his stimulus spending bill. Many of those investments have turned out to be unmitigated disasters — leaving in their wake bankruptcies, layoffs, criminal investigations and taxpayers on the hook for billions.

One could just utter the world Solyndra here, and all would be made clear. However, that is just the beginning. Here are some other notable public equity failings of the administration:

  • Raser Technologies. In 2010, the Obama administration gave Raser a $33 million taxpayer-funded grant to build a power plant in Beaver Creek, Utah. According to the Wall Street Journal, after burning through our tax dollars, the company filed for bankruptcy protection in 2012. The plant now has fewer than 10 employees, and Raser owes $1.5 million in back taxes.
  • ECOtality. The Obama administration gave ECOtality $126.2 million in taxpayer money in 2009 for, among other things, the installation of 14,000 electric car chargers in five states. Obama even hosted the company’s president, Don Karner, in the first lady’s box during the 2010 State of the Union address as an example of a stimulus success story. According to ECOtality’s own SEC filings, the company has since incurred more than $45 million in losses and has told the federal government, “We may not achieve or sustain profitability on a quarterly or annual basis in the future.” Worse, according to CBS News the company is “under investigation for insider trading,” and Karner has been subpoenaed “for any and all documentation surrounding the public announcement of the first Department of Energy grant to the company.”
  • Nevada Geothermal Power (NGP). The Obama administration gave NGP a $98.5 million taxpayer loan guarantee in 2010. The New York Times reported last October that the company is in “financial turmoil” and that “[a]fter a series of technical missteps that are draining Nevada Geothermal’s cash reserves, its own auditor concluded in a filing released last week that there was ‘significant doubt about the company’s ability to continue as a going concern.’ ”
  • First Solar. The Obama administration provided First Solar with more than $3 billion in loan guarantees for power plants in Arizona and California. According to a Bloomberg Businessweek report last week, the company “fell to a record low in Nasdaq Stock Market trading May 4 after reporting $401 million in restructuring costs tied to firing 30 percent of its workforce.”
  • Abound Solar, Inc. The Obama administration gave Abound Solar a $400 million loan guarantee to build photovoltaic panel factories. According to Forbes, in February the company halted production and laid off 180 employees.
  • Beacon Power. The Obama administration gave Beacon — a green-energy storage company — a $43 million loan guarantee. According to CBS News, at the time of the loan, “Standard and Poor’s had confidentially given the project a dismal outlook of ‘CCC-plus.’ ” In the fall of 2011, Beacon received a delisting notice from Nasdaq and filed for bankruptcy.

It gets worse:

A company called SunPower got a $1.2 billion loan guarantee from the Obama administration, and as of January, the company owed more than it was worth. Brightsource got a $1.6 billion loan guarantee and posted a string of net losses totaling $177 million. And, of course, let’s not forget Solyndra — the solar panel manufacturer that received $535 million in taxpayer-funded loan guarantees and went bankrupt, leaving taxpayers on the hook.

Yet if it was merely pure incompetence from a president without any real business background, that would at least explain it, if not justify it. However, it appears that inexcusable crony capitalism plays a far greater role in Obama's public equity failings:

Obama has declared that all the projects received funding “based solely on their merits.” But as Hoover Institution scholar Peter Schweizer reported in his book, “Throw Them All Out,” fully 71 percent of the Obama Energy Department’s grants and loans went to “individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party.” Collectively, these Obama cronies raised $457,834 for his campaign, and they were in turn approved for grants or loans of nearly $11.35 billion. Obama said this week it’s not the president’s job “to make a lot of money for investors.” Well, he sure seems to have made a lot of (taxpayer) money for investors in his political machine.


All that cronyism and corruption is catching up with the administration. According to Politico, “The Energy Department’s inspector general has launched more than 100 criminal investigations” related to the department’s green-energy programs.

So while attacking Romney for his beliefs, views, and outlook on life may be one thing, Obama may be wise to redirect his current strategy of attacking Romney's professional background, unless the tables are turned, and his own track record of gross public capital missalocation ends up under the prime time microscope.


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Sat, 05/26/2012 - 17:17 | 2466008 bugs_
bugs_'s picture

what a bain in the ass

Sat, 05/26/2012 - 17:34 | 2466046 Colombian Gringo
Colombian Gringo's picture

Ultimately, both are crooks, false bookends for the left and the right spectrum that elects the same controlled politicians. No hope, no change.

Sat, 05/26/2012 - 17:41 | 2466054 slewie the pi-rat
slewie the pi-rat's picture

case closed, BiCheZ!

Recognizing Heroes » byRalphieN

Sat, 05/26/2012 - 19:39 | 2466233 BKbroiler
BKbroiler's picture

Wow, surprise, more partisan hackery from the Tylers.

When you're farther right than Marketwatch, it's time to rethink the "centrist outsider" label.

Sat, 05/26/2012 - 19:48 | 2466255 ISEEIT
ISEEIT's picture

Get your ass in the bunker and start waving the white flag now then.

Meanwhile some individuals are going to stay in the fight. All this bullshit about both sides being 'the same' is a lame ass excuse to be lazy and just check out...To quit.

Do that.

But as you leave, realize that others will remain and fight.

Mocking democrat/republican is a sign of good health.

But I suggest that you are missing the war.

The war is a war of ideas. Always has been.

One idea is vastly superior to the other.

And ultimately, it does come down to that one simple place.

Good VS Evil.

Love it, leave it, mock it, ignore it..

Or stand for something real.

Do your thang...

Sat, 05/26/2012 - 19:50 | 2466260 BKbroiler
BKbroiler's picture

nice rant, weirdo.  I just like to think ZH could rise above taking sides in the political snipes, so I put my 2 cents in.  

I'm not sure you got the jist of my post. Next time I ' l l   t y p e  s l o w e r.

Sat, 05/26/2012 - 23:17 | 2466598 blunderdog
blunderdog's picture

Oh, don't worry about it. 

It's another one of those "good vs. evil" things--if you don't understand it, you're "evil" and they'll be fully justified lining you up somewhere and punching some holes through you.

Good vs. evil.  Duh.  It's always just that simple.

Mon, 05/28/2012 - 12:32 | 2469480 Ident 7777 economy
Ident 7777 economy's picture

-1 for blunder; if you don't understand it, you're probably ignorant, perhaps stupid, but not "evil" ...

Sun, 05/27/2012 - 01:39 | 2466736 James_Cole
James_Cole's picture

Understanding that the two parties serve the exact same interests is the first step to not waving the white flag. Voting for either of those clowns is the lazy thing to do. 

Both parties aim to steal to your money, both parties aim to limit your freedom, both parties support wars of adventurism serving specific corporate interests that largely do not align with common voters. 

Vote for either party at your peril. 

Mon, 05/28/2012 - 12:36 | 2469503 Ident 7777 economy
Ident 7777 economy's picture




" Vote for either party at your peril. "


Yeah; I want another pres that will appoint a smart Latina or another dyke 'solicitor general' (who won't recuse herself  on a matter she supported before appointment) to the top court.




Sat, 05/26/2012 - 20:14 | 2466304 ISEEIT
ISEEIT's picture

One advantage of not using meds seems to be that one is able to perform simple math functions. A second benifit appears to be the ability to recognize the propaganda created to assist in my enslavement as being propaganda rather than actual 'news'.

To claim that 4+ TRILLION in additional theft from future citizens is some how a talking point in favor of reelection really and truly shows what an idiot you are.

To wit: Well bush raped her 5 times and obama has only raped her twice?

Are you serious?

Sat, 05/26/2012 - 21:39 | 2466454 Bananamerican
Bananamerican's picture

this..."piece" is regurgitated right-wing talking points.

Fuck romney...with a dirty stick...Just...fuck that creepy fascist bullshit artist bitch....and ObiWan too.

We have no choice, again, this election season except "voting one's conscience"...all 200,000 or so of us

Sat, 05/26/2012 - 22:28 | 2466528 narapoiddyslexia
narapoiddyslexia's picture

Romney is an elitist asshole. Listen to him chat.

Sun, 05/27/2012 - 09:18 | 2466977 HiHoAg
HiHoAg's picture

I'll take anybody but Zero.

I know where that cocksucker is steering the bus and it's off a fucking cliff.


Sun, 05/27/2012 - 09:37 | 2466996 narapoiddyslexia
narapoiddyslexia's picture

True point, that. On the other hand, there's a lot of folk wisdom in "Better the devil you know."

Romney will cave TOTALLY to the banks and Wall Street.

How could any rational person who reads the stuff on this site [and not the alarmist BS that the Tylers put up to drive the sheeple numbers, but the real shit] how could any of you ever support a Wall Street jerk like Romney?

The cognitive dissonance abounds.

Sun, 05/27/2012 - 14:59 | 2467442 orion
orion's picture

I watched the clip you linked to and don't understand what you find in it that merits calling him an asshole.

Mostly he was talking about horses. I didn't hear him saying anything bad about people who don't have horses.

Could you or someone who upvoted you clarify what is assholish about the clip? When I started reading ZH about a year ago it didn't seem like

it was filled with a bunch of envy-driven Occupy-types

Sat, 05/26/2012 - 20:48 | 2466362 drchris
drchris's picture


"What people forget (or never knew) is that the first year of every presidential term starts with a budget approved by the previous administration and Congress. The president only begins to shape the budget in his second year."


OMG, does that mean Clinton blew his own surplus.  I like this train of thought!  Please don't be a coward, stick with this story!  I'm tired of the Clinton surplus fairy tale that somehow negates the left's involvement in the debt.  Thank you for disproving it once and for all! 

Sat, 05/26/2012 - 21:50 | 2466481 Dr. Sandi
Dr. Sandi's picture

Depends on how you define the word "blew."

(Also the word surplus.)

Sat, 05/26/2012 - 22:12 | 2466503 Max Fischer
Max Fischer's picture



welcome back :)

Sat, 05/26/2012 - 22:53 | 2466572 slewie the pi-rat
slewie the pi-rat's picture

hi drSandi!

the bag is reversible?  L0L!

Sun, 05/27/2012 - 08:37 | 2466922 GMadScientist
GMadScientist's picture

Quick, which party controlled congress during 1999, sub-genius?

ZOMG, does that mean that we shouldn't pay attention to the costs of two unnecessary wars, drugs for seniors, and a billion off-budget items?

You: double-plus not-smart.


Sat, 05/26/2012 - 21:22 | 2466426 Al Gorerhythm
Al Gorerhythm's picture

Mien Gott in Himmel! I've never read such utter disingenuous crap (your link) other than Obamney's list of promises. You are truely lost, brother. I read yours and so here's one back at you. It's about 12 mins of viewing, if you can focus for that long. It will show you where both parties have gone wrong.

Sat, 05/26/2012 - 23:38 | 2466633 Al Gorerhythm
Al Gorerhythm's picture

I have just found this article that claims the same about Obama's legacy as yours does about Bush's legacy to Obama.

This just confirms my point about the clap-trap and fairytales from both parties. They're on the same team, fool.

Sun, 05/27/2012 - 11:14 | 2467085 batterycharged
batterycharged's picture

"the driving prerogative for Romney was to generate value for his investors and shareholders. Romney succeeded at his primary task. The question then is: did Obama do the same?"


Yes, Obama generated value for Romney's investors and shareholders.

Sat, 05/26/2012 - 18:15 | 2466111 PeaceLover
PeaceLover's picture

got to be some religious folk in here!

who would give you a mark's down in the face of facts.

Some kind of brain washed  believer..

A believer in what Dem's or Republicans have to offer.. more money for the top and less for the people on the street.(workers)
either so conned by media.. or paid buy the bank to troll.
Rom and Obama aren't in it for the people.

Can someone say ME FIRST and screw the stupid masses.

Sat, 05/26/2012 - 18:57 | 2466183 boogerbently
boogerbently's picture

I've always wondered why people would worry more about what Romney does with his own money, than what Obama does with OUR money??

Sat, 05/26/2012 - 21:40 | 2466459 Bananamerican
Bananamerican's picture

as i often wonder why people prefer the taste of cat shit to dog, by a two to one margin...

Sat, 05/26/2012 - 18:44 | 2466161 vast-dom
vast-dom's picture


Sat, 05/26/2012 - 18:45 | 2466165 Urban Roman
Urban Roman's picture

Bookends? Do you put your bookends in the middle of the shelf?

They are both kleptocrats. Any little rhetorical device that differentiates them one from another is just that. They are both part of the same two-headed freak.

Sat, 05/26/2012 - 19:07 | 2466203 RoadKill
RoadKill's picture

You are a blow tard. Have you ever met Romney? Do you know anything about his past at Bain Capital or with the Olympics or running Mass? What exactly are you refferring to when you say he is a crook?

You dont have to agree with his polotics, but to say he is anything lrss then the most qualified person to run for President in the past 4 or 5 decades is idiotic.

Sat, 05/26/2012 - 19:32 | 2466235 dwdollar
dwdollar's picture


Sat, 05/26/2012 - 20:03 | 2466286 BKbroiler
BKbroiler's picture

that's awesome.  your ha's when right off the screen

Sun, 05/27/2012 - 04:48 | 2466824 Al Gorerhythm
Al Gorerhythm's picture

Here There Be Dragons>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>


Sun, 05/27/2012 - 00:15 | 2466678 victor82
victor82's picture

Thank you, but no way is Romtard more qualified than the Great Trickster His Bad Self, Tricky the Biggus Dickus Nixon, Mr. "I closed the Gold Window". 

Okay, Dick was a genius behind that tortured soul, but sometimes geniuses screw up. Throwing gold under the bus was his big mistake. 

But compared to Obama or Romney, Nixon is fucking Pericles.

Mon, 05/28/2012 - 12:44 | 2469529 Ident 7777 economy
Ident 7777 economy's picture




" Thank you, but no way is Romtard more qualified than the Great Trickster His Bad Self, "




Reason #1 we are IN this mess ( victor82 and those like him could not look past the glitzy media presentation on the O beore the election. The "O" could not successfully run a banana-stand ,,,)



Sun, 05/27/2012 - 08:08 | 2466899 Bob
Bob's picture

Won't get into defending the Mocha Messiah, who is indefensible, imo, but how could anybody be in the dark about O'Romney? 

Well, okay, forgiven for knowing little about his stint as MA Guv beyond his signature achievement of RomneyCare, since he made sure he left office with all the computer hard drives that would have allowed for serious under the hood examination . . . but Bain is no secret:

Sun, 05/27/2012 - 08:48 | 2466937 eclectic syncretist
eclectic syncretist's picture

My dislike for the big banks and Wall Street's rigged games makes me hope that Obama, who doesn't have the balls to face down the banks directly, out of political motivations allows the Occupy movement to build and foment public outrage against the 1%, which he would then attempt to equate Romney with, making himself seem the lesser of two evils (both suck; they want the power and prestige, not a better future for out children).

In this way the big banks would be collateral damage of election politics.  Couldn't happen to a nicer group of corporations, er people.  I only see this happening if polls suggest Romney is going to win and Obama becomes desperate.  We'll have to see how the Occupy movement goes this summer.  It is interesting that the DNC convention is in Charlotte, the headquartes of BAC.



Sat, 05/26/2012 - 18:33 | 2466143 Al Gorerhythm
Al Gorerhythm's picture

These are the days of our lives.

Sat, 05/26/2012 - 19:07 | 2466199 Gully Foyle
Gully Foyle's picture

We all know Romney is selected already.

But here is what's interesting.

Remember how Obama was shoved to the forefront at the Democratic convention in 2004? Nice speech, kind of a cool guy with the smoking and smooth talk.

Well Big Love was designed to prepare the world for Romney. Bill was a nice self made man who pulled himself up from literally the gutter to be elected to a state office.

Big Love softened how America views Mormons, and conflated Bill with Romney in more ways than one.

Which make me wonder just how far in advance do TPTB vet candidates? College? High school?

And how much persuasion is presented to channel citizens into the "right" direction. What timeline is everything run on.

Then again maybe I just read too many conspiracy sites.

Sat, 05/26/2012 - 21:42 | 2466460 williambanzai7
williambanzai7's picture

Actually what we know is Obamney is a hedge.

Sun, 05/27/2012 - 04:52 | 2466827 Disenchanted
Disenchanted's picture




Neither one of em is worth a pound of rancid horseshit.

Sun, 05/27/2012 - 06:29 | 2466850 Disenchanted
Disenchanted's picture



apologies to my junker, yes I was wrong...


I should have said neither one of em is worth a half a pound of rancid horseshit.


duly chastened...and junked myself above.

Sun, 05/27/2012 - 00:17 | 2466679 victor82
victor82's picture

Do you think when Romney gave his audition speech in front of the Banksters he used cue cards? Maybe he juggled. I'm sure he lost to Palin in the swimsuit competition, though.

Sun, 05/27/2012 - 22:41 | 2468328 tarsubil
tarsubil's picture

Who the fuck is Big Love? WTF are you talking about?

Sun, 05/27/2012 - 09:10 | 2466965 Tsukato
Tsukato's picture

 Online I found a list of "bad words" which red flag emails, texts, etc. by the authorities. I thought to myself " most people are too afraid to ever rise up against the man, but perhaps there is some passive-aggressive action that most people could be bothered to do, and could keep the g-men busy/overloaded". This list of words should be spread to everyone, and attached at the end of every message we all write online, during chat, emails, etc. Please take this list, and pass it along to everyone you know. Thanks and vaya con Dios. Here is where to find the list:

Sun, 05/27/2012 - 13:05 | 2467283 rotagen
rotagen's picture

Why not compare pig feces to cow feces?  Same difference.

Sat, 05/26/2012 - 17:19 | 2466017 knukles
knukles's picture

Ha ha ha ha ha ha ha ha
The test of leadership:
Does one transport the family pooch on the roof, eat the family pooch or quit listening to others screw the pooch?

Sat, 05/26/2012 - 21:29 | 2466439 Dburn
Dburn's picture


Sun, 05/27/2012 - 00:18 | 2466681 victor82
victor82's picture

May the man who junks you for this post die the death of a thousand screams. 

Sun, 05/27/2012 - 08:38 | 2466926 GMadScientist
GMadScientist's picture

Convince the plebes they're your pooch.


Sat, 05/26/2012 - 17:21 | 2466018 Caviar Emptor
Caviar Emptor's picture

Cypher: You know, I know this steak doesn't exist. I know that when I put it in my mouth, the Matrix is telling my brain that it is juicy and delicious. After nine years, you know what I realize?... Ignorance is bliss.

Agent Smith: Then we have a deal


Come November, we will have a deal: either a banker or a banker's bitch 

Sat, 05/26/2012 - 18:09 | 2466059 PeaceLover
PeaceLover's picture

Ron Paul looking better every day.



Sat, 05/26/2012 - 19:04 | 2466196 boogerbently
boogerbently's picture

.....if for NO other reason than to defy the 2-party system.

All the poser posters, here, agree that BOTH are crooks....but will cast their vote for the "lesser of 2 evils" or NOT vote.

"They" win either way.

I say, we ALL need to write in a candidate. Opt out of THEIR game. There IS no perfect candidate. The POTUS really doesn't matter. Ron Paul is an alternative we all know about. It's too late to get everyone to agree on an unknown.

We need to replace EVERYONE in Washington. If you must, vote for the NON-INCUMBENT in your "party", in ALL elected positions.

Sat, 05/26/2012 - 21:15 | 2466414 Burticus
Burticus's picture

Accept that there is one ruling party in 'Murka, represented by elephant & jackass sock puppets with the same central banker's hands in both.  Both are way out left (100%, totalitarian gubmint) on the political spectrum. Neither is "right wing" toward 0% gubmint, or anarchy.  (Watch "Overview of America" on YouTube to fit some missing pieces into your puzzle.)

Accept that the Bushbama regime has been a seamless continuum of destruction - insane deficit spending, perpetual undeclared war, bankster handouts, open borders nonenforcement amnesty, totalitarian surveillance police state, etc.  An Obamney regime will guarantee nothing changes.

Accept that any vote for the ruling party is a wasted, sucker's vote.

The cheerleading parrots in the lamescream corporate media cartel would like you to believe that you must choose between their anointed stooges.  This is untrue.  There will be other candidates on almost every ballot.

Of course, as long as votes are "counted" in secret by computers they control, TPTB have an insurance policy, leaving steel, lead and rope as the only alternative to wretched despotism.

Disclosure:  Long 3/4 inch Manila hemp

Sun, 05/27/2012 - 00:19 | 2466682 victor82
victor82's picture

Ron Paul, bitchez. 

Failing that, I'm writing in Palin this fall just to piss off the swine.

Sat, 05/26/2012 - 22:36 | 2466540 Freddie
Freddie's picture


I am getting tired of coming to ZH due to the ENDLESS Obama banner ads.  I know ZH needs to make money but get Snorg Tees or anything else.   The RINO GOP made sure Romney won the nomination.  Ron Paul was by far the best choice followed by Santorum.   Obama is the absolute worse choice. 

Sat, 05/26/2012 - 23:19 | 2466607 blunderdog
blunderdog's picture

Learn to use your Internet, you dumbass.

You get constant Obama ads because he's all you ever post about.

Sat, 05/26/2012 - 23:41 | 2466646 mathdock
mathdock's picture

Yeah, I have Sam's Club and Honda ads.  THey're worth clicking on and spending some time there.......


Sun, 05/27/2012 - 12:36 | 2467228 Matt
Matt's picture

alternatively: =

and 90 percent of all ads everywhere disappear.

Sat, 05/26/2012 - 23:59 | 2466664 Joke Heros
Joke Heros's picture

FFS you are seeing these ads because you probably constantly visit (anti) Obama related sites or are constantly punching his name into your search engines. Stop obsessing about him and the ads will stop. Otherwise get Adblock or something if you have no self control. We get it, you hate him.

Sun, 05/27/2012 - 08:42 | 2466927 GMadScientist
GMadScientist's picture

All I get is ads for musical instruments and APMEx so don't blame Tyler for your ad sense walk of shame, troll operative (hint: the internet also knows you love Hannity and Rushbo and can be driven into a consumerist rage by the sight of black men like a bull runing at a red cape).


Sun, 05/27/2012 - 22:46 | 2468337 tarsubil
tarsubil's picture

"Ron Paul was by far the best choice followed by Santorum. "

Paul and Santorum are diametrically opposed. This q uote makes no fucking sense and makes you look like a retard.

Sat, 05/26/2012 - 18:34 | 2466145 Al Gorerhythm
Al Gorerhythm's picture

You drew one in. Where's the other banker bitch.

Sat, 05/26/2012 - 17:28 | 2466036 booboo
booboo's picture

We are all subjects of the Chicago Machine, complaints will be dealt with harshly, now get back to your government assigned station tax slaves.

Sat, 05/26/2012 - 17:31 | 2466039 MeBizarro
MeBizarro's picture

Why the gov't shouldn't directly invest in companies because they are even crummier than VC firms. Hell, even VC fund struggle to identify 'winners' and ultimately return even a positive investment to their backers.  Depends on the timeframe and data available but the general rule of thumb in the VC industry is that about half of all of a VC fund's firms will fail to earn any kind of positive investment.  VC funds that return stellar returns of say at least 20% annually over the life of the fund are pretty rare.

That said if Obama wants to attack private equity what he should do is rail against how their model only really works in an environment with low interest rates, stable growth, and because of accounting quirks (e.g., 100% of the debt is deductible on those deals).  Even if the amount of deductible debt was say changed to 80%, it would force a ton of these private equity firms out of business.

PE guys on the whole aren't nearly as smart as they think they are.  Just have rigged the rules in their favor and ZIRP has forced increasingly desperate public & private pension funds to seek them out in order to try to get anywhere near an annual portfolio return of 7-8%.  For the most part, PE firms are modern-day shylocks who take their pound of flesh regardless of what ultimately happens with the company.  That's the rub with most Americans.  Americans don't mind people making lots of money especially those who create something tangible.  Most though do have negative feelings for someone (and rightly so) who makes tons of money regardless of whether or not they make a bad choice and has little to no skin in the decision.   





Sat, 05/26/2012 - 21:27 | 2466437 Dburn
Dburn's picture

I would just change "Just have rigged.." to "Others have rigged..."
Although you aren't explicit about PEs doing the rigging, it can be confusing especially when trying to reconcile it with "PE guys on the whole aren't nearly as smart as they think they are."

Sat, 05/26/2012 - 23:37 | 2466637 MeBizarro
MeBizarro's picture

Good point although there is often a revolving door between PE/Hedge Funds/Banks and the agencies that oversee and actually write & implement most of the specific rules. 



Sat, 05/26/2012 - 17:32 | 2466040 rehypothecator
rehypothecator's picture

Then again, there's MF Global: an outright, criminal theft of people's money, perpetrated by Obama's biggest bundler.  Notwithstanding Obama's promise to get tough on Wall Street, the Justice department can't even figure out if a crime has been committed, and this after not even detaining a single executive at the firm, and questioning them under oath.  I'm no fan of Romney, but at least what Bain Capital was doing was legal.  

Sat, 05/26/2012 - 17:38 | 2466049 Colombian Gringo
Colombian Gringo's picture

And what Obama has done is also legal, not prosecuting crimes committed by close buddies. It is called corporate fascism.

Sat, 05/26/2012 - 18:23 | 2466126 Dburn
Dburn's picture

What in the world makes you think Romeny's justice Department will look any different? Although it would be a hell of a hat trick to pull of to get two partners at a famous white collar criminal defense firm who's client were all the TBTFs two times in a row. Hail to assistant AG Lanny Breurer, soon to get his blind trust back fully fattened by four years of partner profits from the big five TBTFs.

Sat, 05/26/2012 - 18:54 | 2466178 smb12321
smb12321's picture

I've always voted Libertarian but am thinking of Romney for one reason.  His manager the other day said Romney would tackle the most important problem - restoring confidence.   Every financial advisor I spoke with agree that nothing will be done with BO in power - the business community simply has no trust in the man or his cronies.  If, after an unmitigated disaster of a term, BO is reelected it means there are not enough citizens left to stop an eventual Atlas moment.  

Sat, 05/26/2012 - 19:07 | 2466202 boogerbently
boogerbently's picture

Certainly not enough intelligent citizens.

Sat, 05/26/2012 - 19:09 | 2466205 lakecity55
lakecity55's picture

F*ck the spade. He signed the NDAA.

If mittens signs the same stuff, we throw him out.

Sat, 05/26/2012 - 19:25 | 2466222 spooz
spooz's picture

He's a party member.  He'll sign. Only 13 senators voted against it, 6 Dems, 6 Repubs & Bernie Sanders.


Sat, 05/26/2012 - 21:23 | 2466430 Dburn
Dburn's picture

Just remember this. The main job of either candidate will be to protect and enhance the net-worth of the principals in the financial sector, military sector, and pharmaceutical sector and any other private sectors (political sector) who have an umbilical chord attached to the Govt. That's their  job. It's what they do. It's all they do.

People you read on the instynets defending either of the parties and their reps have a vested interest in the above through investment or direct payment while some have  a indirect interest ..i.e they don't want to pay for Mom and Dad's Health Care. That is, they just don't have the guts to take them out and shoot them when their time is up or their crippled kids. That's what intestinal fortitude is all about by-gawd. You have to be to do the hard thing.

Do you Bitches have what it takes?...if not, stop bitching.

Sun, 05/27/2012 - 12:36 | 2467229 smb12321
smb12321's picture

Why is it that only ZH posters have pure motives?  Why is every other Senator, Rep, business leader, spokesman, etc greedy, crafty, sinister, evil, in for their own good, part of some dopy conspiracy,a psychopath or a criminal in training? It's an extremely myopic viewpoint and it goes against everything the Founding Fathers believed.

I recall Jefferson (paraphrase) that the goal of politics in a Republic is NOT absolute uniformity of opinion but building a society that works with diverse views. Newsflash - someone can disagree with you on politics and yet not be a monster.   Until recently that was a normal outlook for the Left but now it seems the Right is starting the monster label.

Mon, 05/28/2012 - 12:48 | 2469535 Ident 7777 economy
Ident 7777 economy's picture


Sat, 05/26/2012 - 23:45 | 2466648 MeBizarro
MeBizarro's picture

That's about the only reason to vote for Romney.  That and we can't afford another 2 years at least of gridlock because of the ridiculous filibuster now that is being used in a way that was completely anathema to its historical usage. 

Part of Romney's big plan though is just to strip away Sarbannes-Oxley and Frank-Dodd with some vague BS notion about the need to oversee deriatiatives.

My sense is that if Romney comes in he does largely restore confidence in the longer-term but has to deal with a ton of huge looming economic policy issues from Day 1 that sap a lot of what we wants to.

His administration will be good for a handful of Americans and bad for most. 

Sun, 05/27/2012 - 00:22 | 2466685 victor82
victor82's picture

BUT, BUT, BUT.....Romney's on the RED TEAM, so HIS JUSTICE DEPARTMENT will be run by the GOOD GUYS!


Sat, 05/26/2012 - 19:06 | 2466198 boogerbently
boogerbently's picture

....replace the word "legal" with "ethical" or "responsible".

Sat, 05/26/2012 - 17:49 | 2466069 Amish Hacker
Amish Hacker's picture

"Legal" is a slippery slope. Some laws are arrived at by a long process of common experience and public discussion, and are a good-faith attempt to represent the "will of the people." Others come about because a special interest group hired an overpaid lobbyist to bribe an overpaid congressman to allow them a special benefit not available to everyone. Can you say, "Carried interest?"

Sun, 05/27/2012 - 17:15 | 2467650 Papasmurf
Papasmurf's picture

Bain/Romney used these companies as vehicles to stack up debt, lay off employees and take the business under.  He will do the same for America.

Sat, 05/26/2012 - 17:42 | 2466052 MeBizarro
MeBizarro's picture

As for job creation for PE firms, that's a joke.  PE firm is going to come in and layoff at least 3-5% at a minimum of any firm they acquire and redo all existing contracts especially for pensions.  PE firms goal is to get at least 15-20% annual rate of return for their investors and make themselves a killing in the process.  Only way they do that is to reduce cost, cheap headcount down to an absolute minimum, and if they can really boost productivity without a lot of expensive capital investment. Firm make really grow head count on the road but that is almost never the case while the PE firms owns the asset.  It is only after they spin it off which ideally is no more than 5 years and closer to 3 years. 

Terrible PE firms (and there are increasingly more and more of them it seems as the number of PE firms has notably increased) will just come in and slash & burn the place especially if there is a large amount of cash available, little debt on the ledger, or it kicks off its share of free cash flow.  My favorite are the cash payouts and management fees the PE firms often pays to itself.  Just think of it as 'protection money' only on a much and larger scale. 

Same crap from the 80s and the past 30 years with the only letdowns when the market and economy cr@p out.  Instead of 'corporate raiders' they were relabeld a decade ago 'private equity.' 



Sat, 05/26/2012 - 18:21 | 2466121 New_Meat
New_Meat's picture

u r bizarro:

"As for job creation for PE firms, that's a joke."

Yep, I've posted here that, since I'm in the dreaded private sector, I have rather demands on my time.  So I drop by Staples after grabbing a bite in the BurgerKing drive through.  We're doing market research using Gartner. and ... well, I'm accumulating pounds from all of that sitz-work so I bot some running gear from the big-box sporting store last week.

Of course, you could do the thingie that you prefer--let the crappy companies go BK, that is aligned with your objective of total population unemployed.  I get that part. Real people won't, however.

And a reddie on ya.

- Ned

Sat, 05/26/2012 - 21:01 | 2466390 MeBizarro
MeBizarro's picture

Did you Wikipedia that off Bain Capital's entry or Romney's website? I could cherry-pick all I want especially touting the most highly successful ones and sweeping all of the underperforming turds under the carpet. 

I worked with two larger PE firms through 2 large acquisitions and know how the game is played.  For every Bain too which is the best PE firm around, there are a ton of wantabes especially now with pension funds so desperate for yield.  If the market really redlines and we do have a real pull back in the 2nd half of this year into next year, lots of PE firms are going to lose their shirts. 

Also funny that the most other countries especially the (BRICS wiht the Chinese and Russians in particular) have told US PE firms largely to go f@ck themselves.  I would too if I was running one of those countries.  Better to deal with my fellow countrymen who generally have some vested in their country than foreigners who could care less.  


Sat, 05/26/2012 - 21:33 | 2466444 New_Meat
New_Meat's picture

bizarro (how appropriate)--nyet tovarich, no wiki, no romney web.  But, for various reasons, I'm an AMCIT and a cit of the Commonwealth for a number of decades.  Been watchin' Mitt and all of the goinz' on.

Gee, you have two acquisitions under your belt.  How many are needed to get to statistical significance?  skosh' significance is like-->u need 28 more, don't cha' know.

You say that Bain is the "... best PE firm around."  I  have no opinion.

Maybe the other countries wouldn't be involved because the Mitt-regime wouldn't play games?

This is not to say that the Mittstaz' are not going to lay out the game and then enforce it to the letta'--he's one tough motha' -- u don't get that much money by being a softie.  He did.

Have you read Hewitt's book?

- Ned

Sat, 05/26/2012 - 23:26 | 2466615 blunderdog
blunderdog's picture

Romney can't do anything about spending, one way or the other.  If that's really the pitch, he's a total phony.

It could work, tho.  I'm sticking with my years' old prediction that Obama wins, but something wild can always happen and win that Romney some major points.

I was at a party earlier today with a bunch of artistes, freeks, and lowlifes. 

Not a one of them gave a shit about Obama.

Mon, 05/28/2012 - 12:57 | 2469556 Ident 7777 economy
Ident 7777 economy's picture




" Romney can't do anything about spending, "


-1 more pointless blundering; acute lack of knowledge on spending discretion possessed by the executive branch on display.


Sat, 05/26/2012 - 23:34 | 2466629 MeBizarro
MeBizarro's picture

Follow the literature pretty close on it.  Just been tough to come by and there really only have been really 2-3 legit studies on the topic that really drill down into what the results from private equity have been.  As with any black box especially one that prints money, the holders of it are quite reluctant to give out any kind of substantive data.   Generally PE firms don't live up to their rep as 'firm destroyers' but their claims to be 'job creators' are generally as thin as Soviet gulag gruel.  Just not their concern & nor how they make money. 

PE firms when they were first created did play a more value role by targeting smaller companies and mid-sized companies that maybe did have poor management and benefited from an outside buyer coming in.  The size and scope of PE in M&A transactions though went well past that even in the 80s though.

Why the discussions with Romney touting one example and Obama slamming another are freaking pointless.  One deal is somehow representative of PE firm transactions in what way?  Doesn't matter though because you can't possibly have a more nuanced conversation with the simpleton and often emotionally-driven average American voter. 

Bain's done very well for themselves and has for a long-time since the 80s.  That's a tough track-record to duplicate.  Not many large PE firms standing since then or that have nearly their track record.  Why investors climb hand over fist to try to get into one of their investment funds. 

As for other countries, you honestly believe it is because US PE firms have some sense of ethnical or legal that prevented them for getting access to these markets?  That's funny.  I am sure if they could they would bend/even violate what rules they have to get their hands on that cash.  KKR and Blackstone have been trying to penetrate China for a decade now and with almost no luck.  Not going to change anytime soon either.

Haven't read Hewitt's book.  I would like to but time has been scarce the past 6 months personally & professionally. 

Sat, 05/26/2012 - 18:42 | 2466149 Al Gorerhythm
Al Gorerhythm's picture

This is a side issue. It's about the money, stupid.

How to really measure your wages and savings over time.

PS. Sorry about the "stupid" reference, it wasn't directed at you in particular. I was channeling an old quote by one of those bitches from the '90s, to be used broadly.

Sat, 05/26/2012 - 17:48 | 2466065 Yen Cross
Yen Cross's picture

 I love all of the equitable, pragmatic posts.  I'm off to the farmers market, for Apples and Oranges.

Sat, 05/26/2012 - 18:12 | 2466105 LetThemEatRand
LetThemEatRand's picture

I, for one, am voting for the Douchebag.

Sat, 05/26/2012 - 18:17 | 2466113 Dburn
Dburn's picture

I'm voting for the Douche-Muffin (One of the finest names generated here on ZH-- Author Author)

Sat, 05/26/2012 - 18:44 | 2466159 Al Gorerhythm
Al Gorerhythm's picture

Which one? Don't be vague.

Sat, 05/26/2012 - 19:38 | 2466241 LetThemEatRand
LetThemEatRand's picture

The one who is controlled by the top .01%.

Sat, 05/26/2012 - 21:06 | 2466397 Al Gorerhythm
Al Gorerhythm's picture

Oh. Obamney it is then.

Sun, 05/27/2012 - 00:26 | 2466689 victor82
victor82's picture

Well, if that's the case, you either hate Mormons or hate black people.

HOWEVER, if you click on the banner to the left and fork over three bucks to Obama for America, you can ENTER to WIN Dinner with Barack.

Which, I am sure, gives everyone around here a rock-hard boner.

Sat, 05/26/2012 - 19:09 | 2466204 boogerbently
boogerbently's picture

Could you be LESS specific?

Sat, 05/26/2012 - 17:52 | 2466074 Cyclerider
Cyclerider's picture

What are your thoughts on the auto industry bailout? From a purely investment standpoint, has it paid off?

Sat, 05/26/2012 - 18:00 | 2466085 Yen Cross
Yen Cross's picture

I own a 2002 CorvetteZo6 with 23K on the odometer! I wouldn't touch " GM" with a TenFoot Pole"  I like Volkswagen/Porsche!

  I like Some of the Fiat/Ferrari plans!

Sat, 05/26/2012 - 18:24 | 2466127 New_Meat
New_Meat's picture

Buying current GM product is UN-American.  Fiat is establishing their dealer network here around Boston.  Saw 2 dealerships driving about today.  Got all of these 'skoshi' cars that can't even trip the new PC traffic lights.

- Ned

Sun, 05/27/2012 - 08:45 | 2466935 GMadScientist
GMadScientist's picture

If you have to ask...

Sat, 05/26/2012 - 18:00 | 2466083 Hulk
Hulk's picture

Repeat after me everyone: WASS, WASS, WASS (we are soo screwed)

Sat, 05/26/2012 - 18:04 | 2466088 barroter
barroter's picture

What? More touting that the Free Market is going to save us all? I don't believe it.  All I've seen from laissez faire and liberalization of the business world has been massive FAILURE.  We're living it's debris field just as we speak too.  Sorry...promises from the Holy Free Market mean shit.

Sat, 05/26/2012 - 20:18 | 2466310 Harbanger
Harbanger's picture

If the free-market means shit to you, why are you reading this site?  Are you a troll for the central planners?

Sun, 05/27/2012 - 08:49 | 2466938 GMadScientist
GMadScientist's picture

So you only want to see, hear, and think a single thought while nodding your head in unison (and presumably bleating) but can't defend said thought against even the most obvious criticisms or in any way conceive that it isn't a panacea as you've put forth.

Why did you come to this cult? Are you a troll for the "outsiders"?

Sat, 05/26/2012 - 18:07 | 2466097 rodocostarica
rodocostarica's picture

Maybe Romney is smart enough to check out ZH daily for some easy campaign material. Let's see if he ends up using the examples in the post here. If sheeple cant figure it out with this info then we really are more screwed that I can imagine.


Go Ron Paul

Sat, 05/26/2012 - 18:10 | 2466101 Walt D.
Walt D.'s picture

Let's not forget campaign contributions from Bankruptcy Attorneys - they bill out at over $1,000  an hour. They get to feast off the remains.

Sat, 05/26/2012 - 18:12 | 2466106 americanspirit
americanspirit's picture

Romney was an evil corporate raider/job destroyer and Obama is an evil charlatan/tyrant - what a travesty that this is the 'choice'. Door A or Door B and believe me whichever door you open you're gonna be sorry. 

This article makes excellent sense and I hope that some very smart people ( my personal choice would be the two bears) are able to quantify what Obama has stolen from the American people as well as what he has cost us in jobs, property value, the value of the currency, debt obligations imposed on future generations, families made homeless, lives lost and ruined in his wars, etc, etc.

Satanic accounting is the only way to fully describe Obama's record.

Sat, 05/26/2012 - 18:19 | 2466116 Heroic Couplet
Heroic Couplet's picture

If Republicans don't nominate Mitt Romney, what other clown are they going to nominate? For the first time in 40 years, Republicans can't say tax cuts create US jobs. They've shot themselves in the foot. There might be a few unemployed Republicans who still believe tax cuts work, but most of the rest of the US ain't gonna vote Republican.

Sat, 05/26/2012 - 18:57 | 2466184 Overfed
Overfed's picture

Dude. Ron Paul.

Sat, 05/26/2012 - 19:23 | 2466220 Ookspay
Ookspay's picture

Hey Dummy,

Cut my taxes from $48k a year (federal) to around $20k and I just might hire you to clean my pool or cut my grass, which I currently do myself and hate it! I might even go buy a Union made piece of crap GM vehicle, okay that's a stretch, I won't trickle that far.


Sat, 05/26/2012 - 19:41 | 2466248 Marginal Call
Marginal Call's picture

Judge Smails: I'm having a little party at the yacht club this Sunday. I'm christening my new sloop. What are you doing then, Sunday? Danny: No plans. Judge Smails: Great! How would you like to mow my lawn, huh?


Are you suggesting that my Dodge Ram is a POS?  Probably the best truck ever made.

Sat, 05/26/2012 - 20:06 | 2466290 Hangfire
Hangfire's picture

Watch that tranny!

Sun, 05/27/2012 - 08:51 | 2466940 GMadScientist
GMadScientist's picture

And your truck's transmission too.

Sat, 05/26/2012 - 22:34 | 2466535 logically possible
logically possible's picture

Don't go any farther from home than you care to walk.

Sat, 05/26/2012 - 20:04 | 2466287 Jake Gittes
Jake Gittes's picture

Wow.  A job creator.  Letting your piss trickle down to the unwashed masses.  Thanks a lot for your largesse.  Fuck you.


Sat, 05/26/2012 - 20:16 | 2466306 Ookspay
Ookspay's picture

You're welcome. I could pay you to fuck, but you sound "unwashed", eewww!

Sat, 05/26/2012 - 20:24 | 2466322 Harbanger
Harbanger's picture

His sister gives him money, he don't need to sell his ass.

Sat, 05/26/2012 - 20:22 | 2466318 Harbanger
Harbanger's picture

Fck cutting grass..he's starting as CEO of  Govt. Motors.

Sat, 05/26/2012 - 20:08 | 2466293 barroter
barroter's picture

Agree. The rich have been given up to 3 FAT tax cuts and where are the jobs? The rich are rich now...where are the jobs?  The rich were rich a year ago...where were the jobs then?  Where when did these kinds of tax cuts EVER create jobs? 

Sat, 05/26/2012 - 20:29 | 2466327 Ookspay
Ookspay's picture

Your post reveals that you believe all income belongs to the govt and they and you will decide how much I can keep. Please re-read your post over and over until you see the error of your ways... Or just get it over with and move to a socialist utopia and strap on the yoke, tool!

"The Laffer Curve" is alive and kicking! 0% cap gains, Bitchez! Not all of us can be rich, somebody has to pick up the trash!

Natural selection will not be denied!

Sat, 05/26/2012 - 20:38 | 2466343 Harbanger
Harbanger's picture

I'm amazed how many Statists post comments on this site.  I bet most are Europeans who are trying to hold on to their blessed failed Socialism.

Sat, 05/26/2012 - 20:54 | 2466375 GeezerGeek
GeezerGeek's picture

There are hordes of misguided socialists here in the US, too. They just don't like to be called by that name.

Sun, 05/27/2012 - 08:53 | 2466943 GMadScientist
GMadScientist's picture

Wow, you really have no fucking clue what you're talking about.

Natural selection has her eye on you, Skippy-putz!

Sat, 05/26/2012 - 20:51 | 2466368 GeezerGeek
GeezerGeek's picture

The economy certainly did well in the 1980s after Tip O'Neill let the tax cuts be fully phased in.

Back then, of course, there weren't as many government-mandated impediments to starting and running a private business as there are today. Think of our current regulatory sustem as legal suffocation. With the EPA, OSHA, SarbOx, EEOC and all the other government agencies acting like the brakes on a car, it's difficult to get a company going these days. Think of it being like trying to drive a car with the parking brake on: an swful lot of energy is wasted overcoming the brake. End the excessive regs, affirmative action, all that stuff, and business may just start creating jobs.

Your're partly correct in your comment about tax cuts. Tax cuts alone won't create jobs given the current regulatory environment. There are so many things wrong nowadays that any one item being fixed will be insufficient.

Sat, 05/26/2012 - 21:12 | 2466408 MeBizarro
MeBizarro's picture

Center piece of what Romney and Ryan are touting in their economic plans.  Massive tax cuts on income, getting rid of taxes on rent-derived income, and nebulous, non-specific deduction cuts or removals.  Both of these clowns also project notable deficits too and the growth assumptions in Ryan's plan are laughable from a historical perspective.

Neither party is serious about tackling the deficit and wants to spend on their pet causes (Democrats - entitlements; GOP - defense).

Sat, 05/26/2012 - 18:25 | 2466125 CrashX
CrashX's picture

"My moms is crazy. If I get knocked up, I can get my own moneys."

Grew up in Mississippi - typical conversation overheard among teenage girls at my high school (all "races") planning for their future.

Solyndra is nothing compared to the generations who have had their votes bought and paid for by the Obama gang. How much has that "investment" cost?

They even post signs at the convenience stores - can't buy drinks on election day. Damn, guess I gotta go vote for my free moneys.

Talk about vampires. And zombies.

Sat, 05/26/2012 - 18:26 | 2466131 New_Meat
New_Meat's picture

"Talk about vampires."

Look up George Lackoff (rhymes with).  The origin of popular use of the "investment" meme.  When I hear that in "political" speech, I wanna' puke.

- Ned

Sat, 05/26/2012 - 19:33 | 2466211 CrashX
CrashX's picture

Yeah, sorry - why I try to avoid puking in general.

Anyway, we're having a big party on election day, waiting on the Democrats to bring in the buses. If you're not too busy working, you should stop by. Gonna be off the hook.

Works the same way in Ireland - hell probably across the entire caring, socialist, civilized world.

I don't know why - but I was actually surprised to hear how easy it is to pay off enough votes to keep the lower classes impoverished, supplying the academics with all of the demand they need to continue testing out all of their failed theories. No wonder they praise Obama as the smartest of them all!

Fwiw, I revile Republicans, detest Democrats. But our "free press" is prep'd to tar and feather any alternative. Crazy Teabaggered Wizard...

But I'm just regurgitating what everyone already knows. I think it's called ranting.

Sat, 05/26/2012 - 21:44 | 2466465 New_Meat
New_Meat's picture

Here in the "commonwealth" we are really confused re: EBT/SNAP cards.  Actually we are not, but our Senate (all but 4 are Demz, go figure) are putting in restrictions (finally) that the EBT card can not be used in liquor stores, duh, ... u get the picture.  But they (our demz) can't find it within their hearts to stop EBT money withdrawls from ATMz.  It might ruin their self-esteem or sompthin'.

I revile the Rz as well, although there are none in the 500 mile radius of where I live to revile in person.  TPz seem to b OK, RPz seem to b 1/2 that, but go figure.

- Ned

{ranting here is OK if it leads to conversation that leads to new perspectives--at least that's why I b hangin' 'bout these here parts} don't cha' know.

Sat, 05/26/2012 - 19:18 | 2466214 spooz
spooz's picture

Right, so the answer is to cut off the support for children.  That works for the 1%. May help decrease that surplus population, bigger piece of the pie for those productive types living off their stock dividends. 

I guess the tragedy is that those girls never aspire to getting out of poverty.  Maybe they realize the only way to get medicaid is to have a child, since most states don't cover adults without children.  If we had universal health care, it might give people other options.

Sat, 05/26/2012 - 19:21 | 2466218 CrashX
CrashX's picture

Never have blamed the girls. By the time (if ever) they catch on, the next generation of test subjects is getting tired of living with their crazy moms. It's REALLY sad. But a vote is a vote.

Sat, 05/26/2012 - 20:45 | 2466358 spooz
spooz's picture

I'm sure they would be much better off voting for the 1% candidate.  The tough daddy will make everything all better. All it takes is a little discipline and those bad kids will become productive labor units. Too bad the McJobs they score don't pay a living wage and come with no benefits. On the plus side, if we deny them health care we can decrease that surplus population in the long rung.  They are just wannabes anyways, they aren't special like the 1%.

Sat, 05/26/2012 - 21:13 | 2466409 Ookspay
Ookspay's picture

Wow, You sure are generous with other peoples money...

Pay attention: We believe in helping the poor. We believe that the Fed govt is very inefficient at doing it. We believe that families, churches and local communities are far better at uplifting and helping the poor. We believe in Constitutionally limited powers.

Cell phones and free scooters to 300 pound paupers tooling around wallmart with snap cards. Having eaten themselves into a disability, while a Handi-van drives them to their nail appointments. I am afraid you have confused compassion with stupidity.

Sat, 05/26/2012 - 22:46 | 2466565 Al Gorerhythm
Al Gorerhythm's picture

God, I wish I could green tag you +100. If I didn't have gout, I'd drink a gallon of beer with you. Fuck I miss beer.

Sat, 05/26/2012 - 23:32 | 2466628 Ookspay
Ookspay's picture

Gout, the "Rich Man's" ailment. Lobster, crab, wine, beer, all the good stuff. I hear black cherry juice works well, splash in some Absolut.

I feel for ya Brother... If I had to give up beer I might just amputate my big toes instead!

Sun, 05/27/2012 - 01:16 | 2466718 Al Gorerhythm
Al Gorerhythm's picture

Rich! Shiiiiiit!!!!, if only. Have one for me, or just have one.

Sat, 05/26/2012 - 23:09 | 2466590 MeBizarro
MeBizarro's picture

Reality is quite different from the reality you present.  One of the reasons you had a more active role of federal gov't in poverty especially regarding nutrition was the nearly 30% of US males who were rejected in the WW2 draft due to issues stemming from mental/physicial issues that were primarily due to nutritional defencies while growing up.  That's a staggering number that often never gets discussed enough and stunned the US Army.  Primary reason why the school lunch program was created.   

If the federal gov't doesn't take some role in food aid, you are going to see significant amount of children with physical/mental defencies when they reach adulthood especially during a pronounced economic downturn like this that lasts years.  Penny-wise, pound-foolish investment.

Now US agricultural policy including the nearly $20-30B annually in subsidies we spend largely on corn, soybeans, cotton, rice, and a few other crops is another matter entirely. 


Sat, 05/26/2012 - 23:10 | 2466593 spooz
spooz's picture

And you like to think in terms of stereotypes so you can marginalize those who you feel are lesser than yourself. Just cross your fingers and hope somebody else will provide a safety net if it helps you sleep at night.  The "other people" whose money I would like to spend more effectively are corporations sucking off the crony capitalistic tit to extract resources for the enrichment of the elite.

Sat, 05/26/2012 - 23:47 | 2466653 MeBizarro
MeBizarro's picture

It's an incredibly stupid policy that will have really bad effects over the long-term but no politican in America is required to think for more than 2 years and really the next 6 months is about their max time-frame. 

Sat, 05/26/2012 - 23:32 | 2466627 blunderdog
blunderdog's picture

    Solyndra is nothing compared to the generations who have had their votes bought and paid for by the Obama gang. How much has that "investment" cost?

Right.  Those welfare mommas make voting a real fuckin' priority.  Sure sure.

I guess when it's only 50% of the voters voting, it's gotta be mostly the ones on the dole.  They don't have to get any time off work.

Sat, 05/26/2012 - 18:24 | 2466129 erheault
erheault's picture

Zero was promising the moon to all of the 20 somethings he had them jumping up and down while wetting down their legs,, now 3 years he has not kept one of his vast promises and the 20 somethings are mostly unemployed with vast amounts due for their school loans, Meanwhile he has saddled with what is left of the taxpaying working force with multi Trillions of debt which can never be paid,  He has done one thing that he was boasting about increased employment in the government by a huge amount but with half of the employables on welfare and food stamps it just dumps more of a load on whas is left of the employed.

    As it stands now he wants to tax the rich under the idea that it is the poor who start buisnesses and employ  warkers, Even if he took all of the money that the supposedly super rich and left them pennyless it would not cover a year of government spending.  

Sat, 05/26/2012 - 18:28 | 2466137 New_Meat
New_Meat's picture

Dude, just u-n-me.  Please do not get close to conflating ZERO with Our Dear President.  It contaminates what the Tylerz and we are trying to get at.

Thank u very much.

- Ned

Sat, 05/26/2012 - 18:26 | 2466132 Ookspay
Ookspay's picture

Fuck the POTUS!

Give me a TEA Party Senate and a few more TP House members and cut, cap and balance!

Close military bases, stop nation building and foreign aid, slash social security and medicaid. No more govt cell phones, or SNAP cards. The poor can line up for free bread and govt cheese.

Drill like crazy. Clean coal. Convert transportation to NatGas. Suspend EPA bull shit regulations.

Lower corp tax rates and Capital gains tax to ZERO! This economy will take off like a rocket, balanced budget and debt gone in 10 years!

ZERO PAY for senators and reps and no benefits, defacto term limits!

Kill the federal government and return power to the States and the people.

Bring on the pain, better me than my kids, they didn't create this mess. Man up America! 

Sat, 05/26/2012 - 19:01 | 2466190 spooz
spooz's picture

Right.  Put those sheeple in their place, scrooge.  And we know how well tax cuts have worked...for the 1%. Too bad us sheeple will have to stand in the bread line waiting for that trickle down effect. Oh, and lets let the corporate interests (in this case oil & gas corps) loot whats left of our resources while we're at it.  That'll fatten up those bottom lines.  No jobs, but at least it will prop up those share prices!

Sat, 05/26/2012 - 20:37 | 2466337 spooz
spooz's picture

ooh, nice picture of jomama

Sat, 05/26/2012 - 20:11 | 2466297 barroter
barroter's picture

Yeah...libertarianism and financial anarchy is the answer?  Let's let Wall St, the Banks and any other business run totally free.  Wait..we tried that and it smacked straight into a brick wall.

Sat, 05/26/2012 - 19:04 | 2466195 lakecity55
lakecity55's picture

Roger that.

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