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extraction of wealth from US

noah way said:
Culture of consumption and debt as a means of leverage, both elements of financial greed. The history of slash and burn is readily evident in a long string of scandals ranging from the S&L Scandal to ENRON and other corporate scandals to the tech bubble, housing bubble and following mortgage crisis (which bailed deregulated banks out of the collapse of the housing bubble).

Typically, when one sector has been destroyed, vulture capitalists turn to another and pick it clean. The Greek financial crisis is largely the result of specualtion and the same kind of credit default swaps that caused the mortgage crisis in the US. These same techniques are being used against other economies including Ireland and Italy to generate financial profit at any cost.

The idea that eventually they will run out of things to destroy in their quest for profit apparently hasn't crossed the minds of those engaged in such pursuits.
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This is one government handout that needs to end.

FOCUS | Matt Taibbi: Romney's Secret? Greed, Debt and Forcing Others to Foot the Bill

"MATT TAIBBI: Yes, there's a tax deduction for all that borrowed money. So, when Mitt Romney or Bain Capital, when they want to go take over a company like KB Toys and they borrow $300 million to do it, and that new debt becomes the debt of KB Toys, when KB pays the debt service, the monthly service on that debt, that service is deductible. And if that were not true, if they did not have that deduction, these deals would not be economically feasible. They wouldn't be possible. I spoke to one former regulator from the SEC, who worked both in the SEC and as an accountant at a Big Four accounting firm, and he reviewed a number of these deals in both a public and private capacity. And he said, without that deduction, he's never seen a deal that would have been economically-a private equity deal that would have been economically feasible. So, this entire business model depends upon a tax break."
 
copestag said:
weve already discussed this case in another thread........ and quickly came to the conclusion that the rich white guy with no prior record clearly deserved a much stiffer sentence than the poor black guy with a prior record thicker than your computer tower........ FFS
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Why does it have to be a poor black guy with a prior record thicker than your computer tower? Others in this country don't have a prior record thicker than your computer tower?

Indian Land Grab
Right from the very start the European settlers were begging their British king to destroy the
 
Being a team player can be highly profitable, of course those that whine about it are just jealous of not being fit to be members of the team. Not Romney's fault that these whiners didn't choose their parents wisely.

Bain Capital Complaint Should Be Made Public, Court Rules

U.S. District Judge Edward Harrington said in a decision on Friday that the public has the right to see a new complaint filed as part of a class-action antitrust lawsuit that claims Bain Capital and 10 other private equity firms colluded with one another to keep the costs of leveraged buyouts low. The plaintiffs recently filed another complaint with new information, but that complaint has not yet been made public because of opposition from Bain Capital lawyers, who say doing so could hurt the company's business because of increased scrutiny during the election news cycle.

Adam Smith - Wikiquote

"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices."
 
OutofDate1980 said:
Being a team player can be highly profitable, of course those that whine about it are just jealous of not being fit to be members of the team. Not Romney's fault that these whiners didn't choose their parents wisely.

Bain Capital Complaint Should Be Made Public, Court Rules

U.S. District Judge Edward Harrington said in a decision on Friday that the public has the right to see a new complaint filed as part of a class-action antitrust lawsuit that claims Bain Capital and 10 other private equity firms colluded with one another to keep the costs of leveraged buyouts low. The plaintiffs recently filed another complaint with new information, but that complaint has not yet been made public because of opposition from Bain Capital lawyers, who say doing so could hurt the company's business because of increased scrutiny during the election news cycle.

Adam Smith - Wikiquote

"People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices."
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Romney wasn't involved with Bain at the time this alleged incident occurred. Let's blame him anyway though. We should all be held responsible for things our companies do after we leave them.
 
The article doesn't say exactly when the incident in question took place now that I look at it more in depth. You'd think that would be in there since when Romney left Bain is what makes a difference in whether this is a news story or not.
 
A.Nonymous said:
The article doesn't say exactly when the incident in question took place now that I look at it more in depth. You'd think that would be in there since when Romney left Bain is what makes a difference in whether this is a news story or not.
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Well since complaint isn't public, hard to know. It's interesting Bain lawyers are attempting to suppress complaint because of "election news cycle".

Lawsuits are public records, so why cite "election news cycle" as a reason to suppress if Romney wasn't involved. Bain lawyers can't win on public disclosure, so an attempt to delay disclosure till after the election ?
 
Bain lawyers know that even if it came out that it happened during a time that Romney wasn't involved with Bain he would still get blamed for it by the Obama campaign.
 
A.Nonymous said:
Bain lawyers know that even if it came out that it happened during a time that Romney wasn't involved with Bain he would still get blamed for it by the Obama campaign.
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Supposedly Romney is no longer involved in Bain management, so why should Bain lawyers object ? This is a court of law, Obama can blame away to his hearts content.
 
OutofDate1980 said:
Which has nothing to do with making the class action anti-trust complaint public. Obama is not a party to the class action lawsuit.
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Here's the thing.

Complaint is made public.
Let's say it's from a time after Romney left Bain in 1999. Obama backers will still blame Romney for it.
Romney will deny it claiming he wasn't with the firm with the time and Obama backers will label him a liar.
Romney loses.
 
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