It's humorous, but provides very little factual basis for it's criticism.
New York Post article claiming that Romney's Bain captial is Parasitic Capitalism of the worst order!
Bain reduced Dade's research and development spending to 6 to 7 percent of sales, while its peers allocated between 10 and 15 percent. Dade in June 1999 used the savings as part of the basis to borrow $421 million. Dade then turned around and used $365 million from the loan to buy shares from its owners, giving them a 4.3 times return on their investment.
In August 2002, Dade filed for bankruptcy.
IN Bill Black terminology, this is "control fraud".
Romney was mentioned in Grant's recent fed speech as a beneficiary of low interest rates:
But note, please, that the suppression of interest rates and the conjuring of liquidity set in motion waves of speculative lending and borrowing. This artificially induced activity serves to lift the prices of a favored class of asset—houses, for instance, or Mitt Romney's portfolio of leveraged companies.
He was also mentioned recently in passing by EJ, in a rather negative passage:
How to choose between a Speaker of the House who presided over a budget surplus financed with equity bubble capital gains taxes and a governor who made his fortune levering up corporations and selling them with debt-laden balance sheets that later caused many of the firms to fail?
Copyright iTulip, Inc. 1998 - 2013 - All Rights Reserved
Opinions expressed herein are those of the posters, not those of iTulip, Inc., its owners, or management. All material posted on this board becomes the intellectual property of the poster and iTulip, Inc., and may not be reposted in full on another website without the express written permission of iTulip, Inc. By exception, the original registered iTulip member who authored a post may repost his or her own material on other sites. Permission is hereby granted to repost brief excerpts of material from this forum on other websites provided that attribution and a link to the source is included with the reposted material.
Nothing on this website is intended or should be construed as investment advice. It is intended to be used for informational and entertainment purposes only. We reserve the right to make changes, including change in price, content, description, terms, etc. at any time without notice. By using this board you agree that you understand the risks of trading, and are solely responsible for your own investment and trading decisions. Read full legal disclaimer.
Journalists are not permitted to contact iTulip members through this forum's email and personal messaging services without written permission from iTulip, Inc. Requests for permission may be made via Contact Us.
Objectionable posts may be reported to the board administrators via Contact Us.