Quote:
Originally Posted by Ed Hammer
How much has he made for the company he worked for? If that is a failure I hope my company's all fail the same way.
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Remember when the banks were handing out loans left and right? That was because the banks made money no matter what. They loan someone money, make a profit, and then when they default just turn around and sell to next guy who is going to pay even more.
It's not much different than what Bain Captial does. Bain Capital didn't only make money when their investors made money; Instead, they made money no matter what. They borrowed hundreds of millions to buy companies, and then charged these companies a "management fee". Bain Capital borrowed money to buy Ampad, and then had Ampad borrow yet more money to pay Bain Capital's "management fees". When the companies went under and the investors lost everything, Bain Capital walked away with fistfuls of money.
Your okay with that? Eight percent of our stimulus money went down the drain - our tax dollars. This went into companies that went belly up for whatever reason. And Romney is bitching about it. Imagine if it was twenty-two percent - nearly one fourth of all stimulus money gone. US tax payers would revolt at that point.
Then factor in his track record....
Nov 2003: 66% approval rating
March 2005: 55% approval rating
March 2006: 46% approval rating
November 2006: 34% approval rating
How the fuck can anyone stand behind someone who left office with a 34% approval rating? BTW, that was President Bush's approval rating when he left office in December 2008 - 34%.