Mitt Romney is one of the greatest and most irresponsible debt creators of all time! (LET'S ELECT HIM!)

From Matt Taibbi, one of the only reporters left in this country:
And this is where we get to the hypocrisy at the heart of Mitt Romney. Everyone knows that he is fantastically rich, having scored great success, the legend goes, as a “turnaround specialist,” a shrewd financial operator who revived moribund companies as a high-priced consultant for a storied Wall Street private equity firm. But what most voters don’t know is the way Mitt Romney actually made his fortune: by borrowing vast sums of money that other people were forced to pay back. This is the plain, stark reality that has somehow eluded America’s top political journalists for two consecutive presidential campaigns: Mitt Romney is one of the greatest and most irresponsible debt creators of all time. In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth.

6 Comments

neidermeyer says:

September 2, 2012 at 5:08 pm

Matt ,
The very creation of money in our country is synonymous with debt creation as money is borrowed into existance via the FED rather than simply created/printed by the treasury … why do we have this third party inserted in the system? What do they add to improve the creation of money?
Any complaint about the creation of debt is a circular argument as debt/wealth have been synonymous in this country for 99 years now.

Mike Hansen says:

September 3, 2012 at 9:35 am

Great article. I always wondered how he did it, now I know. Look
for a business with a high book value, very little debt, a low stock
price reflecting low earnings. Example: book value $30/share, stock
price $3/share, earnings: 30cents/share, debt=0.
Procedure: borrow enough money to buy 51% of shares, take over company, change management, borrow against equity, steal the money,
and let the company go bankrupt.
If this isn’t stealing, I don’t know what is. Make lots of money,
produce nothing of value, and leave former workers unemployed. This
is finance capitalism at its worst.
At least Ron Paul made his money at an honest job, as a physician.
He is a veteran and a Christian, therefor no future in the Republican Party. We need to raise the Libertarian Party. Voting
Republican or Democrat is a waste of time.

Steve Banks says:

September 3, 2012 at 3:16 pm

It is a fact that private equity firms such as Bain Capital were in the business of finding small firms and “corporatizing” them. That included making anyone with original knowledge of how the company should to be run subject to crushing debt and thus sure failure before their ultimate takeover.
This has been the case since the late 1980’s when the country was “napping” and agreeing that “Greed was Good”.
We have to have an honest intelligent debate on how we want to face future challenges which are enormous and I’m hopeful the American people will awaken in time to secure a more prosperous future for ALL it’s citizens.

John Anderson says:

September 3, 2012 at 6:29 pm

Mr Mitt Romney has a timetable for starting wars in Iran and Syria. He could not have sucked up to the Zionist controlled Israelis any more than he did promising to borrow more money from China and the FED, and give it to them, while fighting wars, they feel in their interest. As long as Israel is controlling Washington DC and our major media, well be fighting the war they have waged for 4,000 years.
Republicans now only offer pain and austerity for low and middle class families, while bailouts for Banks “their donors” and more money for Wars. Iran and Syria are the next targets of the Israeli controlled US government.
The most appropriate movie quote from Clint Eastwood would be from Unforgiven, ” Deserving hasn’t got anything to do with it ” Because America deserves better that Robney/Obama.
Write in Ron Paul on your ballot.

Michelle says:

September 3, 2012 at 11:28 pm

Matt
I am an avid reader of your blog. While I don’t share your sentiment about Republicans, I do admire your relentless consumer advocacy and your pursuit to defend the rule of law. I think that’s where the focus needs to stay and political bashing is, in my opinion, not necessary.
We can debate all day about the politics that contributed to the mess we have today but the fact of the matter is that the mess is here and playing the blame game isn’t going to help us deal with it TODAY! As a soldier on the front lines, you well know the lying, cheating, and wreckless disregard for the law that these banks are committing on a daily basis and you have been a pivotal force in the movement to open the eyes of judges across this state. Continue to focus your energy on what has proven to be and will continue to be an uphill battle. Leave politics out of it. Not to say there is no relationship between the two, but I think your passion and enthusiasm is best directed at upholding the rule of law.
That is where you shine and where your voice and advocacy are most needed. Keep up the good work!

DT says:

September 4, 2012 at 1:24 pm

Your right, Let vote Obama in again ! things are going so good right now I am sure they will get better in the next four years.