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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 - 21:19 | 2466422 MeBizarro
MeBizarro's picture

Agree with some general tenets of what you have but the Tea Party members have been voted in have voted in almost lock-step with the GOP on opposing withdraw from Afghanistan, no cuts to defense spending, and massive expansion of gov't surveillance powers for starters.   There are some exceptions but most of the 'Tea Party' members are just GOP members who suckered their voters in 2010. 

The Tea Party though has little to no rationale explanation on low-energy costs.  It would take more than 20 years to set up a NG infrastructure and convert most of the truck/large vehicle fleet to burn it.  Clean Coal is also a bunch of largely BS.  Oxymoron although removing it entirely from our base power electrical generation sources of fuel is a real issue.  Ditto that with the expiring nuclear facilities whose licenses are already being extended 20-30 years beyond what was originally intended.

Sat, 05/26/2012 - 21:46 | 2466470 New_Meat
New_Meat's picture

Ookspay:

"Fuck the POTUS!"

Only with your dick, OK?

- Ned

Sat, 05/26/2012 - 22:07 | 2466498 Ookspay
Ookspay's picture

LOL... Kristy Noem for POTUS!

Sat, 05/26/2012 - 23:20 | 2466608 MeBizarro
MeBizarro's picture

What I generally see from the 'Tea Party' movement is something that was maybe at first a legimitiate grassroots organizaton but was quickly co-opted by mainstream GOP activists including Dick Armey. 

Talked a good game but almost of the Tea Party members who came in 2010 in the House have voted lock-step with the GOP on most matters.  They are also rabidly against any defense cuts, ending the war in Afghanistan, any reductions in nuclear weapons, and have supported every bill that has supported greatly expanded electronic surveillance and monitoring of American citizens.  Talk about 'freedom' but too bad their voting reality is quite another story.  There have been some exceptions but not many. 

Ditto on the spending cuts.  They want to cut discretionary spending to the bone even to the point on things like infrastructure which is incredibly a$$ine and short-sighted.  Wanted to greatly reduce taxes further especially on their rent-derived income and cut entitlements for those 55 and under but keep there own entitlment as is.

Basically I see in the Tea Party a bunch of older mostly white Americans who talk about 'freedom' but oddly support aggressive militarism and overseas wars.  They also talk about deficit spending (and rightly so) but there attitude is the most cynical one around which is basically - "I got mine and screw you."  Touch my entitlements?  Are you crazy?  Pay even less taxes on my retirement portfolio?  Damn straight.  

Why I think most of the Tea Party members are pukes.  Selfish hypocrites who talk about one thing and do something else entirely.  It doesn't make them much different than other politicians or poltical groups nor do they have a monopoly on hypocrisy.  Just definitely at the front of the list. 

Sat, 05/26/2012 - 23:35 | 2466632 blunderdog
blunderdog's picture

All the TEA Party guys would have to do to be worth a good goddamn would be pass some spending cuts.  It's the simplest most obvious to pick up any credibility as anything other than statist Republicans.

Let's see:

I'd say they could start with the Medicare D extension.  That was very recently passed, costs HUGE bookoo bucks, and the people who depend on it don't have any money anyway, so it would only cost you soft-money in the next campaign.

Sat, 05/26/2012 - 18:31 | 2466135 williambanzai7
williambanzai7's picture

I have no doubt that Mr Romney will do a fine job for his investors and shareholders when he gets into the oval office.

One thing they are both experts at is borrowing money.

THE BAIN WAY

Sat, 05/26/2012 - 19:02 | 2466191 Al Gorerhythm
Al Gorerhythm's picture

Hey Banzai, can you put Barry's face over the Trololololololo guy, for the complete performance? Now that would be a trip. 

Barry's/Romney's policy announcements.

http://www.youtube.com/watch?v=sz_m6N1IYuc

 

Sat, 05/26/2012 - 21:09 | 2466398 Harbanger
Harbanger's picture

The dog on the hood is cute.  To be fair, I'd like to see one of Obama's Memorial day BBQ party with Bo on the rotisserie.

Sat, 05/26/2012 - 21:47 | 2466472 New_Meat
New_Meat's picture

the dog on the hood is/was alive.  Barry's dog was cooked 'n eaten. - Ned

Sat, 05/26/2012 - 18:32 | 2466142 Hedgetard55
Hedgetard55's picture

Ramney or Barry Pakalolo. Helluva choice.

Sat, 05/26/2012 - 18:39 | 2466152 spooz
spooz's picture

This is why Obama is a worse choice than Romney if I am forced to make a choice.  I'll be voting third party just to take a stand, I know my vote won't count in my state anyways. The fact that Obama tries to wrap his crony capitalism in green causes to suck in knee jerk libs makes him worse than the guy who at least admits that for him corporate interests go before public.

Sat, 05/26/2012 - 21:48 | 2466475 New_Meat
New_Meat's picture

3p .eq. O

Sat, 05/26/2012 - 18:45 | 2466164 orangegeek
orangegeek's picture

Four years of Romney or four more years of hopey changey.  Well based on the markets and where they are headed - it's likely going to be Romney.

 

http://bullandbearmash.com/index/djia/weekly/

 

As Clinton said, "it's the economy stupid".  Leaders change in bad times, not in good.

Sat, 05/26/2012 - 18:46 | 2466168 Jake Gittes
Jake Gittes's picture

So what's up, Tyler?  You shillin' for Rmoney?  Like that's going to make a difference.  Mr. Durden is a homophobe and a bigot.  Plain and simple.

Sat, 05/26/2012 - 19:12 | 2466208 theTribster
theTribster's picture

Right, stating the facts makes him a shill. There is no question in my mind that the vast majority of writers and readers that come to ZH know the deal with American politics. There is no difference when it comes to the real issues like war, spending and sucking big corporate dick. To suggest this is the effort of a shill is a little ridiculous given's this sites focus and the content in the article.

Mr Durban huh? is he related to Pink in Pink Floyd or Led in Led Zeppelin? Mr Durban the homophobe and bigot, don't get out much huh? Maybe, eventually, you'll figure it out and understand how this works :) but between now and then keep hammering Mr Durban, I'm sure its hurting him immensely.

 

Sat, 05/26/2012 - 19:34 | 2466237 spooz
spooz's picture

Hey, Senator Durban (IL) is one of the 13 who said no to NDAA.  One in the plus column for him.  

"Mr Durban huh? is he related to Pink in Pink Floyd or Led in Led Zeppelin? Mr Durban the homophobe and bigot, don't get out much huh? Maybe, eventually, you'll figure it out and understand how this works :) but between now and then keep hammering Mr Durban, I'm sure its hurting him immensely."

Sat, 05/26/2012 - 19:50 | 2466259 Jake Gittes
Jake Gittes's picture

Dragging out the Solyndra card.  How pathetic.  Sounds like something you shitbirds picked up while watching your fearless leader, Hannity.  Next thing you know, you shitbirds will be dragging out the birther card.  

Want some advice?  Leave the politics out of the discussion.  Stay focused on the financial facts and analysis and you'll retain some measure of credibility.  Otherwise, you'll continue to be letting your slips show. 

Sat, 05/26/2012 - 18:49 | 2466171 blindman
blindman's picture

just cut to the chase. make m. milken
the president and let him quickly leverage
the mess to hell, fire everyone, steal all
the equity and sell it off to the tbtf hand
out recipients. better yet, make that crazy eddie
guy the president and let him burn the mess to
the ground to collect the insurance money.
either him or l. silverstein. they would know
what to do here.
that's the ticket. i think the yankees are on
t.v., gotta go.
sheesh

Sat, 05/26/2012 - 18:50 | 2466173 Atomizer
Atomizer's picture

Why even argue this? The monies are all going to the same coffer. Joke is on YOU.

Sat, 05/26/2012 - 18:55 | 2466180 Overfed
Overfed's picture

Obama could be personally smacking children over the head with an 8lb. sledgehammer, but we'd never know. The lamestream media is firmly in his back pocket, and they wouldn't say shit about him if they had a mouthful.

Sat, 05/26/2012 - 19:32 | 2466234 Ookspay
Ookspay's picture

Yeeepppp!

Condescending, smarmy little media pricks and traitors! "When I am king they will be first against the wall", lawyers second, after they dig their own graves of course.

"Kickin' squealin' gucci little piggy".

http://www.youtube.com/watch?v=QmCJ3TW2hqA

Sat, 05/26/2012 - 19:01 | 2466189 lakecity55
lakecity55's picture

There is an ad for O'Barry on the left. Can we get an O'bama ad blocker here?

Thanks.

Sat, 05/26/2012 - 19:03 | 2466194 Divine Wind
Divine Wind's picture

Luvz me some Romney.

Sat, 05/26/2012 - 19:26 | 2466225 RoadKill
RoadKill's picture

I have a problem with all of the anti-Romney stuff on here. Everyone is entitled to their own oppinion, but I feel like most of you havent done your homework. You have never met him, you have NO personal knowledge of Bain Capital or his stint at the Olympics or Governor of Mass. You are completely convinced that some global conspiracy is in control of everything and no matter who gets nominated, if they arent an End The Fed Gold Bug, you are convinced they are Satans spawn.

I will admit I am biased. I am a Regan Liberatarian. I worked for Bain Capital for 6 yeard, was an I-banker for 6 years before that and went to HBS. I lived in Mass while he was Govenor. I will admit that pitching PE as a massive job creation engine is a bit of a stretch. What he should be saying is that Bain bought bloated companies that were having trouble competing, and cut their costs to the point that 80% survived and thrived instead of going bankrupt.

But my experience with Mitt suggests he is the best qualified candidate to run in a long time (Obama, McCain, Bush 1&2, Clinton, Gore, Kerry). We dont know how it will turn out, and this guy has a lot of problems in front of him to solve. But if you are looking for a smart, hardworking, analytically driven guy that can get things done with Democrats and Republicand - this is the best guy you could put forward. And he has lots of very smart people to put in places they can try and do good things.

Sat, 05/26/2012 - 19:30 | 2466227 spooz
spooz's picture

We have no knowlege of his Bain Capital stint because he refuses to disclose its holdings.  I assume its not pretty.

 

Sat, 05/26/2012 - 21:13 | 2466405 GeezerGeek
GeezerGeek's picture

Let's have Obama and Romney trade. Full disclosure on Bain Capital's holdings (not certain why it's relevant now, but you want it) and in return Obama releases all the stuff he's hidden regarding his past, like the origin of his Social Security number, his Selective Service registration, his records from Occidental, Columbia and Harvard, his SAT scores, his passport from his visit to Pakistan, etc. We won't ask for his birth certificate: we'll take him at his word that he was born in Hawaii and that his father was from Kenya and not an American citizen when Barry was born. His father's citizenship is only important to those of us who believe the Constitution should be the supreme law of the land; does that include you?

Sat, 05/26/2012 - 22:19 | 2466517 spooz
spooz's picture

I don't need that background crap from Obama.  His record speaks for itself.  He's a crony capitalist tool.  I'd like to know if Romney is too.  

http://www.nakedcapitalism.com/2012/05/barack-obama-the-great-deceiver.html

Sun, 05/27/2012 - 01:27 | 2466725 Al Gorerhythm
Al Gorerhythm's picture

"I'd like to know if Romney is too."

Romney a crony capitalist tool?

You just have to look in their "tool" box. He fits in right beside that dumb-as-a-hammer Giethner. Bank on it.

Sun, 05/27/2012 - 08:42 | 2466933 spooz
spooz's picture

I know it, but it would be nice if his supporters knew what they were voting for.

Sat, 05/26/2012 - 21:22 | 2466429 MeBizarro
MeBizarro's picture

Bingo.  No idea because most of the investments they made while Romney was there have been kept private (as is Bain Capital's right). 

Sat, 05/26/2012 - 22:13 | 2466505 americanspirit
americanspirit's picture

OK Roadkill - you make sense and sound qualified to have an opinion. Now please tell us what the downside is with Romney. And I'm going to fact-check your claim that 80% of the companies that Bain took over ultimately survived. If you're right about that then your opinion is worth listening to. Thank you for posting.

Sat, 05/26/2012 - 23:40 | 2466640 blunderdog
blunderdog's picture

     I am a Regan Liberatarian.

If you mean Ronald Reagan, that shit don't exist.  Reagan said and did absolutely ZERO for personal liberties or smaller government.

Sun, 05/27/2012 - 17:19 | 2467655 Papasmurf
Papasmurf's picture

You should feel ahamed for your consequence on society.

Sat, 05/26/2012 - 19:34 | 2466238 Marginal Call
Marginal Call's picture

I'll never vote for a mormon.  That's just a special brand of crazy.

 

And since I live in Washington state, which will be voting Obama in the 70 percentile it really doesn't matter what I do.

 

 

Sat, 05/26/2012 - 21:17 | 2466420 GeezerGeek
GeezerGeek's picture

I'm certain you are comfortable being a lemming and a bigot. Washington deserves people like you. When Obama stands on the edge of a cliff and yells "Forward" will you blindly follow into the abyss?

This comment is not intended to suggest Romney is better, or worse, than Obama.

Sun, 05/27/2012 - 11:49 | 2467133 Marginal Call
Marginal Call's picture

If I'm a bigot because I laugh my ass off at people who believe some asshole that says god buried golden plates in his backyard then so be it.  Religion is just another crowd control method from the elite anyhow.  Some are just crazier than others.

 

But that was a might big leap you took to get from my post to lemming.

Sat, 05/26/2012 - 21:26 | 2466436 Jena
Jena's picture

Since I live in California, it won't matter much what I do either, but I'll vote for Ron Paul (my absentee ballot for the primary just arrived and yep, he's listed).  It might not do much good in the overall election results but the satisfaction I get out of it will be huge.  

Sat, 05/26/2012 - 19:36 | 2466239 theTribster
theTribster's picture

I didn't realize how many companies or how much money was involved in this convenient method of shoveling money directly into the hands of his good buddies. As the other article pointed out, the investments made by these folks into Obama's campaign must have an ROI of 10000%, I won't bother to do the math because it would be too depressing.

How unique is this to Obama? Or is it like other things where previous Presidents did it a little but Obama does it to the extreme (like the espionage law)? I suspect the its just extreme with him and that all President do this too some extent. This is only one of many ways they can payback their contributors but its a pretty efficient way to hand over billions of dollars when required, obviously.

More justified criminal activities that are now the new normal in America. When it comes to money anything goes, no matter how insane or risky or, illegal. Most laws have been rewritten or taken off the books completely, just consider the Lehman decision the other day, not enough evidence to proove anyone was doing anything illegal. Now, how crazy is that? I'm expecting Jamie Dimon and JPMorgan to get away with thier illegal activities, both in the past and in the future.

As Max Kaiser says, cooking the books is the new Wall Street business model. I think its in all industries, not just the financial but that's where its worse - for obvious reasons!

I realized the other night that ultimately this "new normal" must inevitably lead to total destruction of every industry. I realized this when I saw that JP Morgan wants to create a new ETF that tracks Copper, they'll be allowed to do it even though the industry is screaming about it. As the banks gain more and more financial control over commodities markets they put themselves in a position to literally control the prices and therefore start to fleece those industries. The implication is that these conditions already exist in many, many markets (like Silver) including most of the vital commodities. But I disgress.

Oh well, this isn't likely to stop anytime soon. I'll have to figure out how this works, is Congress involved or is this capability already in place for the President exclusively? It would be nice to figure out exactly what Washington insiders made money trading these companies? As far as I understand it is legal for them (Congress, President) to make insider trades, something Clinton or Bush put in place I forget. Regardless, it would be nice to know, I'll bet it is equally spread between both republicans and democrats! 

Its frustrating to hear this shit day after day after day, from almost every perspective America is turning into a total corrupt shit hole with leaders that intentionally and conciously fucking us! We are looking a lot like Europe, both politically and financially...

On that note, time to watch the Sixers and the Phillies - double trouble tonight. 

 

Sat, 05/26/2012 - 19:40 | 2466247 foxmuldar
foxmuldar's picture

Biden now claiming Romney no more qualified to run then a plumber? When you have a leaky faucet do you call a community organizer or a plumber? Look at all the leaks Obama created. All these company that leaked our tax dollars till they went belly up. So tell me now who would you really want for a president? I'll take the Plumber. And what experience did Biden ever have to qualify him for VP. He couldnt make dog catcher.  

Sat, 05/26/2012 - 20:13 | 2466302 barroter
barroter's picture

Wait? Weren't the GOP fired EN MASSE a few years ago, for killing this economy?

 

Sat, 05/26/2012 - 20:41 | 2466353 Nid
Nid's picture

And of course, the Dems were fired EN MASSE (historic, in fact) less than two years ago. Your point?

Sat, 05/26/2012 - 21:35 | 2466452 Harbanger
Harbanger's picture

The new astro turf is only 3 yrs old with a 40 guarantee.  Enjoy the weekend.

http://www.youtube.com/watch?v=VcbuMsQJj8A&feature=related

 

Sat, 05/26/2012 - 19:50 | 2466258 palmereldritch
palmereldritch's picture

Regardless, after the election it's just going to be one of two different versions of

Bring out yer debt....

http://www.youtube.com/watch?v=grbSQ6O6kbs

Sat, 05/26/2012 - 20:00 | 2466279 monopoly
monopoly's picture

What a pathetic president Obama has become. I hope all of this gets out to the sheeples. It is going to be an ugly campaign. I do not think Obama will stop at anything to get re-elected. Not that Romney is any great panacea for us. He has plenty of faults too. I think we are screwed either way, both will spend, both will make excuses for failures and neither will take the blame when the final Tsunami hits our shores.

Sat, 05/26/2012 - 20:02 | 2466283 Nid
Nid's picture

Certainly Barry's not off the hook for one of his higher profile debacles? GM...in which he fucked rightful creditors in exchange for Union giveaways and then dished off an overpriced IPO to the investing public which has tanked and been under water for most of its pathetic existence.

Sat, 05/26/2012 - 20:19 | 2466313 foxmuldar
foxmuldar's picture

Had Barry gave the sell order just after the GM ipo was done, he would have got back a nice chunk of the money he wasted on it. But the Unions wouldn't have anything to do with selling afterall they own a major portion of the stock. After the IPO GM was going for $38 now its down to $22. Seems like the smart trader would have bailed out shortly after the IPO went down. 

http://finance.yahoo.com/echarts?s=GM+Interactive#symbol=gm;range=2y;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

Sat, 05/26/2012 - 20:13 | 2466300 foxmuldar
foxmuldar's picture

Oh and that investigation by the Energy Department Inspector General. lol How much anyone here want to bet that will fizzle just as the Fast and Furious program that got hundreds of Mexicans killed and one border agent? As long as Obama and Holder are running this ship, nothing will come of any investigations. The media continues to back Obama just as they continue to condemn Zimmerman for what is now looking more and more like a simple case of self defense. Got to throw the poor guy to the dogs so they won't riot if he's set free. 

Sat, 05/26/2012 - 20:38 | 2466340 Atomizer
Atomizer's picture

 

 

Romney is just another body for peeps to vote for. Let's look at a 2008 snap shot and compare notes with the Messiah’s steaming pile of shit campaign. 

An unauthorized biography of Barack Hussein Obama by Warning Brothers Productions. -2008 

SCOTUS will knock down Obama Care, Romney will pitch healthcare concessions to sell this country down the toilet. His honeypot success will be sold to all decrepitated baby boomers who expect everything out of life for free.  The experiment of running out of other people’s money has arrived at the baby boomers  doorstep.  

Decrepitated OWS Protest with riot dog..

Help me, my wallet is empty and I cannot find future unborn critters to fill my expenses/entitlement payments.  Down to capitalism.  

These 1960’s sex orgy & drug infested DC politician idiots are going to be in for a real surprise.  This is the one & only reason why I will not vote for Romney…… Yet

Sat, 05/26/2012 - 20:58 | 2466366 spooz
spooz's picture

Yeah, blame our crappy health care system on the baby boomers.  Nice way to divide the sheeple into factions.  Divide and conquer, right? Straight out of the Machiavellian playbook. It has nothing to do with the crony capitalistic system where corporate health care, Big Pharma and insurance suck profits out of resources that should be spent for universal care.  You are a mouthpiece for the 1%.

Sat, 05/26/2012 - 22:23 | 2466521 Atomizer
Atomizer's picture

No asshole, the agenda of what is being handed to you has been carefully presented.

 

Good luck trying to claw your way out of the [system phantasy mode desperation moment]. You will not survive! The others that see, will not accept you! Winks.

Sat, 05/26/2012 - 22:39 | 2466550 spooz
spooz's picture

ummm... yeah... think its time to take ur meds, dude

Sat, 05/26/2012 - 22:46 | 2466566 Atomizer
Atomizer's picture

I love little pricks like you who believe in fairy tales. Tag your it!

World-Systems Theory

Sat, 05/26/2012 - 22:56 | 2466578 spooz
spooz's picture

Its a shame you have been so thoroughly programmed and can't see reality

Sat, 05/26/2012 - 23:23 | 2466613 Atomizer
Atomizer's picture

When you see thru my eyes, you can understand my statement about future events and how people will accept you as someone who pretends.

 

I feel very deeply sorry for you.  Again.. time never lies. Only history repeats in different regions of the world. You will not survive!

Genocide in Darfur has killed over 400,000 people since 2006

Sat, 05/26/2012 - 23:47 | 2466651 spooz
spooz's picture

And you will wait your whole life for the end to come but it never will.  You will die disappointed that your life represented such a small slice of history.

Sun, 05/27/2012 - 00:24 | 2466683 Atomizer
Atomizer's picture

 


This is not about me, rather you. My life will not be sacrificed. Apparently you’re a confused liberal parasite, who is in denial over the end of your gravy train. LOL 

I don't fear death, my life has been filled with kindness and good fortune. Lastly, my slice of history is quite large.

 

Sun, 05/27/2012 - 00:31 | 2466696 spooz
spooz's picture

We'll see about what gets sacrificed.  The sheeple can vote as a pack if they realize what they're up against.  Its not about boomer v millenial, black v white, men v women or whatever else the duopoly tries to spin.  Its 99% v 1%.  If the propaganda veil can be broken through, they can start to see whats important.

Your slice of history is infinitesimally small and you will likely be dead wrong about your predictions for the future.  You are only human, after all.  Although some schizophrenics think they have the inside track.

Sun, 05/27/2012 - 06:48 | 2466868 wackyquacker
wackyquacker's picture

ok. So who do we vote for, spunk?

Sun, 05/27/2012 - 08:41 | 2466929 spooz
spooz's picture

Third party. I believe the majority would vote for a strong third party candidate in this election, but most feel like they are wasting their vote.  Maybe if enough people vote third party those doubters would start to believe that breaking out of the duopoly is possible.

Sat, 05/26/2012 - 23:34 | 2466630 Vince Clortho
Vince Clortho's picture

+1  

The parasites have been using divide and conquer against the muppets for a long time.

We need to stay focused and not be tricked into infighting.

Well done.

Sat, 05/26/2012 - 21:10 | 2466401 djsmps
djsmps's picture

I find Romney reprehensible. I can't stand anyone in either party. Normally in this situation I would vote for a third party candidate. I've voted for Nader just because I couldn't vote for either of the candidates. I have never voted for a Republican candidate for president. I will vote for Romney just to get this evil festering pustule called Obama out of office.

This election I am voting against all incumbents.

Sat, 05/26/2012 - 23:30 | 2466619 Vince Clortho
Vince Clortho's picture

Don't re-elect anybody.

If politician's understand they have to work for the voters trust to stay in office, they might eventually start representing the people instead of the fat cats.

Until that time, put them back on the street after one term.

Sat, 05/26/2012 - 23:47 | 2466652 blunderdog
blunderdog's picture

If you MUST participate in that whole pretense, I'd suggest voting for anyone who is neither R nor D.  You might want to make sure you have some idea what they're about.  The important bit is to burn the two major parties to the ground.

Sat, 05/26/2012 - 21:36 | 2466450 MeBizarro
MeBizarro's picture

First time in my adult life that I will strongly consider leaving the presidental vote column blank on Election Day.  My vote actually matters in a minor way because I do live in a legit swing state (PA).  Can't remember a time I though was so generally disgusted with both parties and presidental candidates. 

Really ashame that the US has had the good province to have presidental leaders come along at times of real turbulence and transition that guided the country relatively successfully (Washington, Lincoln, T. Roosevelt, FDR, and even Reagan) & left it in a better positon than when they took office.   

Obama basically has been GW Bush lite.  I was expecting him to at least use the DOJ and legimately go after some of the most blatant mortgage-underwriting fraud which was committed on a huge-scale.  Maybe even on the scale of the Savings & Loans investigatons.  If anything, he's been much worse actively preventing the FBI from pursuing this issue in earnest and harassing any state AG to go along with his crony settlement that basically was a slack on the wrist and let a bunch of banks out of a ton of lawsuits they would have had to deal with for years to come.  

Its not that Obama is a socialist.  It is that he has practiced crony capitalism on a scale that has stunned me.  That's where the real issues lie. 

Sun, 05/27/2012 - 09:13 | 2466970 Al Gorerhythm
Al Gorerhythm's picture

Just as a heads-up; When politicians practise crony capitalism, it's called Facism.

As for your hero worship for past presidents, Theodore Roosevelt turned troops on strikers, used gunboat diplomacy to get his way with foreign governments and used his positon to better his and big business' fortunes. Amoung other things, FDR banned the ownership of gold, confiscating it by making it illegal and selling it at a profit to foreigners as further insult, and Regan kept the kleptocracy going, driving the country into stellar debt. The rest of them followed in his footsteps, all proving to be honors students in kleptomania. The latest, the Dux of the school. What a lovely bunch of heroes you have there.

Sun, 05/27/2012 - 13:39 | 2467329 Harbanger
Harbanger's picture

"Regan kept the kleptocracy going, driving the country into stellar debt."

Reagan wasn't the King of the US, he did what he could with a Democrat congress continuing to expand govt. and crony caplsm.  Barry controlled all 3 branches until the new congress put the brakes on spending.  Give conservatives the house, senate and oval office in 2012, and you'll see real changes you can believe in.

Sun, 05/27/2012 - 16:06 | 2467557 Al Gorerhythm
Al Gorerhythm's picture

Now where have I heard that before. Oh yes, the last 10 elections.

Sat, 05/26/2012 - 21:56 | 2466486 q99x2
q99x2's picture

Hell that's the least of our worries. That Nobel Peace Prize winning Kenyan isn't satisfied with starting wars all over the other side of the world now he's trying to get them started in the US. TSA, Homeland Secutity. Who's he think he's kidding.

Sun, 05/27/2012 - 00:05 | 2466670 MeBizarro
MeBizarro's picture

What are you blathering about?  Honestly anytime I hear someone say 'Kenyan' or Socialist/Communist/Marxist, I know that person is either a lazy idiot or a parrot who just repeats the general talking points he hears on general news outlets. 

Dept of Homeland Security was created in 2002.  Ditto TSA.  Both passed with overwhelming majority support from GOP and Democrats.

TSA is the least of what I am concerned about in terms of electronic surveillance and monitoring by the US federal gov't.  TSA is basically an institution that was created after 9-11 because Americans are largely completely paranoid about airline security & demand 100% safety for terrorists regardless of how remote the threat.  Doesn't matter if the TSA really just presents an illusion of security.  If the TSA was removed and an American flight in the continental US was hi-jacked, the political hit would be enomorous on whatever party voted in larger numbers to remove the TSA.  Even the GOP isn't for removing the TSA.  They just want to privatize it.   

Doesn't matter that the threat of a plane hijacking is almost negigible on a flight in the continental US or that flying is far and away the safest form of travel in the US.  Americans want and demand security from even the remostest chance of terrorism.  In doing so, they are willing to sign over large amounts of privacy, rights, and even dignity to do so.  

Me I would would take my chances flying without the TSA and if I died in a hijacked plane than that was the choice I made.  Overwhelming majority of Americans though wouldn't see it like that.  They would look for someone to blame.  

Sat, 05/26/2012 - 22:02 | 2466495 dolph9
dolph9's picture

If anybody here believes that "private" equity is anything other than bank created fiat funny money, then you are truly deluded.

Sat, 05/26/2012 - 23:04 | 2466584 One World Mafia
One World Mafia's picture

Romney generated value for investors of Bain but fleeced investors of the companies Bain acquired.

Sun, 05/27/2012 - 08:17 | 2466906 wonderatitall
wonderatitall's picture

how? and lets give obama a break,huh.  i mean he never had a job and all his life everything was given to him by various governments. i say let this guy alone. he is doing what he set out to do. get whitey back for making him pick cotton and shit. his bantu warriors are attacking in every city any whites they can. can you say rhodesia.  obama was elected to steal as much as he can for the nazi/democrat crony fascists before he starts his well needed and anticipated race war....god bless kony-obama for finally ending the blue state model of slavery and getting whitey on the plantation...obama 2012, why?  RACE WAR BABY

Sun, 05/27/2012 - 08:34 | 2466920 spooz
spooz's picture

I see they have managed to program this sheeple to be racist.  Divide and conquer is the way the duopoly continues to own us.

Why the need for racial slurs when the guys record is enough to indict him?  

Sun, 05/27/2012 - 08:40 | 2466930 One World Mafia
One World Mafia's picture

They are the same thing.  Chicken hawk & corporate welfare bum  Mitt has already stated he agrees with Obama about indefinite detention without trial.

-Paid aids $97,000 of taxpayer funds to erase his governorship records. 

 Romney's company issued bonds for a steel company taken over by Bain, gave Bain an unusually large dividend, and later fleeced debt holders. A federal government insurance agency had to pony up $44 million to bail out the company’s underfunded pension plan, and somewhere in the story Bain also got a federal bailout of $10 million, but Bain still made millions in profits.  Romney still receives a share of Bain's profits in perpetuity while workers lost their health insurance and a significant portion of their pensions.  Stock scams are Romney's modus operandi. 

For carbon taxes and gun control. 

Romney's healthcare was a boondoggle but he's still for unconstitutional mandated health insurance. 

Shares Obama's banker campaign contributors, supports banker bailouts, Tarp, and ethanol subsidies.

Believing he's different because he's a white RINO is ridiculous.  He advanced in this race because of election fraud committed by the system, starting in Iowa where the vote count was moved to a secret location due to threats from a hacking group tied to the govt.

Sat, 05/26/2012 - 23:38 | 2466638 pissing_excellence
pissing_excellence's picture

Can someone grab Claudius by now from behind the curtain or something by now?

Sun, 05/27/2012 - 01:37 | 2466734 Shibumi2
Shibumi2's picture

Don't forget ENER1...600 million burned trying to build a fucking battery before BK

Sun, 05/27/2012 - 08:33 | 2466919 Eugend66
Eugend66's picture

Hmm .. , Obambam, the only good thing about him is he can`t stand Netanyahu, that`s a ~,

Mittens, OTOH ... thinking ..... , NONE.

RP 2012.

Sun, 05/27/2012 - 09:12 | 2466969 roadhazard
roadhazard's picture

After years of voting this broken country is all I have to show for it.  It's evil vs evil and I'm done.  I'm not even voting Libertarian anymore because they are just not really trying.  Y'all keep beating your heads against the wall. 

Sun, 05/27/2012 - 09:51 | 2467008 Winston Churchill
Winston Churchill's picture

Spot on.

I have had two growth companies that required PE funding.

The PE investors destroyed both by their greed.

They demanded so much in both equity and interset

that they removed any incentive to make those

companies succeed.

Sun, 05/27/2012 - 12:01 | 2467150 Ookspay
Ookspay's picture

Perhaps you are better suited as an employee... It sounds like you destroyed your companies.

Mon, 05/28/2012 - 01:19 | 2468552 Antifaschistische
Antifaschistische's picture

The part that's killing me, is who ever said the President's job is to "create jobs" or "stimulate hiring", etc.

The last thing we need is a President who wants to continue to tradition of "creating jobs."  What we need is a President who's willing to read a book on Constraint Theory and begin removing constraints that complicate the hiring process for every company in the US.   There are hundreds of examples and they're not hard to find.

Then, the President needs to can the Department of Education and have a workshop with some real teachers and ask them what the constraints are on them every day that complicates the student learning process.   Remove those constraints and we'll start back on the road to having a respectable education system.

 

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