complaining about Romney's history of predatory capitalism
through his Bain Investments. Of course, the politicians
are not trying to score points against Romney, they're just
jealous. it's not enough having insider trading rights in Congress.
I can't get too excited about mergers and acquisitions. That's
so quaint. I reminds me of the first Wall Street movie,
where we learned (and I mean that) that greed is good.
All they were doing was vulturing diving on still living
companies and decimating them to make a profit, putting
thousands out of work.
["don't wory, bee happy"]
Now, the game is so much bigger. They predators have killed off
whatever the Chinese industrial giant hasn't, and Western economies
are down to their bone skeletons.
Romney could say, "the market would have done it anyway". Well, I
look at the bones that were a company 5 minutes ago and I say,
"that was some crash diet"; like what they did to Greece.
[elephant skeleton still trying to walk. doesn't know it's dead yet]
[a fully Bained elephant]
As an anthropologist, I'm still trying to figure out if Romney's type
of business is preying on those creatures weaker than themselves,
i.e. leveraged vultures, or whether it's feeding on humans in either
a fratricidal mania, or as a cannibal. I'm having some trouble with
this one.
Romney's religion is a strange one that puts beverages like coffee
tea and booze in the forbidden category, but then allows vulture
capitalism, and condones polygamy (they've never stopped anybody).
If I were a Mormon and a moralist, I'd have crapped my temple garments.
Perhaps those temple garments are just a way
to keep Mormon women's minds on their man's pecker,
because they only get to see it (biblically-speaking,
not Book of Mormon-wise) once every 2 weeks.
I shit you not!
google that: temple garments + Mormon
I'm glad to see that political documentaries have not been made illegal
in the US. Especially considering the Citizens United case which has
opened the door to unlimited political contributions. But money is power.
truthful documentaries are sick, twisted propaganda, innit?
checkitout: from Max Keiser
William BANZAI ON ZeroHedge
MITT SWAMNEY IS THE “LBO LOVE GURU!”
Posted on January 14, 2012 by williambanzai7| 7 Comments
ZOMBINOMICS 101: LBO Job Creation
STEP 1: Find underpriced and under leveraged public companies that are generating tons of excess cashflow. Borrow tons of money to purchase them and take them “private.” Pay yourself tons of closing and management fees.
STEP 2: Strip and sell off non-core assets. Maximize operating efficiencies (a euphemism for restructuring the workforce, i.e., you’re fired!) in order to service tons of new debt, pay yourself ongoing management fees and special dividends.
STEP 3A: Wait for the right opportunity to exit via a strategic sale or IPO. Collect more fees. Fire some more employees for good measure.
STEP 3B: Blow the company up and liquidate everything. Collect more fees. Fire all the empoyees.
STEP 3C: Bankruptcy– pass the whole piece of junk your distressed asset team. Collect more fees. Somebody’s going to get fired.
Job Creation: Hire more associates and analysts to look for more LBO deals.
Q: Hey Banzai, private equity doesn’t work that way anymore, right? There’s just too much competition for too few deals.
A: Perhaps, but this is how it worked when Swamney was the…LBO LOVE GURU!
