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Category → Mitt Romney – Leveraged Buyout of America

Romney Must Intend To Use His Bain Capital Experience and Expertise -- To Do A Leveraged Buy-Out of America -- Part It Out and Sell It For Scrap To The Lowest Bidder!

By Frank Byronn Glenn --  Mitt Romney keeps talking about all the business experience he has accumulated in the course of his life-time (too much to even itemize - or even talk about really -- it would take years) and how unbusiness like Barack Obama has run the government. "He just doesn't know business", Romney keeps saying.  "He hasn't done it -- so he doesn't know how the economy works."  He added, "He's been either in politics -- or a community organizer -- all his life.  That's all he has done."   He's never worked in the real world, Mitt says. .                                                                                                                                                                                                                                                                      . Well, let's talk about this a minute, Mitt.  Except for the one term short shrift as governor of Massachussets, you have done nothing other than work for Bain Capital most of your life -- with the exception of continuously running for every political office that comes along -- and losing.  And as governor of Massachusetts practically the only thing you got done was Healthcare, which was a good thing, except for the mandate to have health insurance -- which you and your rich friends and corporate buddies now run away from as anathama -- not because it was a bad idea because it was not -- given the regrettable limits of the Affordable Healthcare Act -- but because it was passed while Obama was President and you and your right wing constituency have decided that anything done or proposed by Obama is bad because you know you have to successfully demonize Obama in some way -- or why wouldn't the American people re-elect this good and principled man President. .                                                                                                                                                                                                                                                                      . And Mitt -- the central business operating principle of Bain Capital was to use leveraged buyouts to gain control of companies' assets by  borrowing money to buy the company.  Then, once the purchase was completed, you then transferring the responsibility for re-paying the loans to the company itself, now backed by the company's assets alone,  not the asset of you and Bain Capital.  Then you sold off all the saleable assets, parting the company out piece by piece, even stealing the life-time accumulation of employee contributions to their pension funds, in many cases,  and then you fired as many of the employees as you could to save money while you continued to milk the company of any assets and any revenues still rolling in. Then, when you had plundered everything there was to plunder -- you bankrupted the company and left the American tax-payers and the United States government holding the bag to pay-off the pension fund entitlements owed to the employees -- which were protected by and had to be paid by somebody -- by law.  So essentially you didn't really earn any money -- you simply stole it  from vulnerable people who had no power to do anything about it.  And you call that business experience?     No, Mitt.  That's not business.  That's theft and plunder of the assets of vulnerable people who were relying on you for their livelihoods -- and who trusted you  -- and then stealing the employees' pension funds -- and letting the government pick up the tab.    It was legal, you say?   Well, so was everything Adolf Hitler and the  Third Reich  in World War II Germany leading up to and during the war years.   It was legal, Mitt.  But it was also immoral. .                                                                                                                                                                                                                                                                      . So if you get to be President, Mitt, what are you going to do with all that "business experience" you are so of accumulating over the course of your productive working career at Bain. .                                                                                                                                                                                                                                                                      . Maybe you can do a leveraged buyout of the United States government.  Borrow the money from China to buy the government, stucturally adjust all the cabinet level departments of the executive branch into the office of the President, laying off all federal employees except those that work directly for you, then sell all the assets of government, privatize all government services, eliminate all income taxes on millionaires, pay all field grade military officers a minimum of a million dollars a year so you have a good and willing team of fellows to help you complete the structural adjustment of America.  Of course you would privatize or disband all government services except the military, and their job description would be modified slightly to include tax collection from the middle-class, the working poor, the poor, the disabled, children, the old, the infirm, and anyone not a Republican who has sworn allegiance to the King Mitt Dynasty. .                                                                                                                                                                                                                                                                  . And, of course, last of all -- and finally -- the Social Security Trust Fund and all future social security contributions -- and all private and public pension funds, IRA's, and 401(K)'s, would be confiscated and turned over to Wall Street where we all always knew it rightfully belonged -- to be managed in sacred trust - in perpetuity -- for all Americans, so that we, our children, and our grand children, will know the the promise of America is still alive and well -- because somewhere out there in the great, safe, powerfully protected bastions of the financial behemoths of America -- we will all be safe, protected,  and provided for -- should the rich and super rich, and the plutocrats of Wall Street in their collective and infinite wisdom decide that we are ready and deserving to rise above the moral hazard of full opportunity and limitless security and this -- a  life of dignity just laid out before us for  the taking -- without us even having to have been born rich -- or sold our selves into indentured servitude to be entitled to it.  Ah, the sweet smell of America. The sweet essence of life, liberty, and the pursuit of happiness for all.  Preserved at last! .                                                                                                                                                                                                                                                                   . Oh, Mitt!   We can hardly wait!