Face of the 1% - Mitt "Gordon Gekko" Romney

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Bain Capital – Phony Crony Capital – Putting Lipstick on a Pig

What is coming to light in the political spotlight of Mitt Romney’s quest for the White House is the manner in which his company sought capital and made money, profits by sacking existing companies and their assets, pension funds, repackaged the company’s spreadsheet image, sold the companies for huge returns on junk bond capital and turned around and did the same thing on the next victim company acquisition of Bain Capital.

One of the causes of the stock market crash of October 1987 was a market floating on inflated junk bond capital raised by Michael Milken at Drexel Burham Lambert and similar imitators.

http://articles.boston.com/2012-06-24/business/32383267_1_junk-bonds-bain-capital-refinances-debt

The market bubble that burst in 1987 was a bubble that fueled the Savings and Loan bubble that burst shortly thereafter. This invented high risk money fueled speculative building in office buildings, shopping malls, golf courses and housing all over the west. Because of the junk bond model pretty much invented by Milken at Drexel Burnham and used in speculative investments funded in loans by banks, savings and loans, guaranteed by the federal government, the S & L debacle got dumped on the American taxpayer during the Bush 41 regime.  700 to 800 billion back then, now about a trillion and a half of the present national debt with over twenty years interest added on.

The only big fish punished back then was Charles Keating, heavily into the newly deregulated S & L industry, separated from regular commercial banking in that their base was savings used almost exclusively in financing housing real estate and not necessarily commercial building, office buildings, malls and apartment complexes that fed on easy junk bond funding once deregulation went into effect.

http://en.wikipedia.org/wiki/Charles_Keating

Bain used Drexel Burnham junk bond capital to fund its early vulture capitalism projects.

Michael Milken and Charles Keating were eventually tried and jailed for fraud among other things like conspiracy cooking the books and breaking existing laws.  They are now out of jail and back in business. Keating in real estate in Arizona and Milken is a philanthropist giving away some on the money he made from fraud and is now a key player in the next financial racket bubble to burst – EMOs – Education Management Organizations into education for profit, charter schools etc. feasting on the public dime.

http://en.wikipedia.org/wiki/Michael_Milken

Romney did not break any laws that we know of at Bain.  Indeed, the government swallowed up the losses caused by the Savings and Loan Fraud.  If Bush 41’s admin had prosecuted more smaller fish than just Keating instead of sweeping it all under the rug, maybe the housing bubble burst in the 2008 financial meltdown under Bush 43 might not have been allowed to happen if deregulation of the American banking industry had learned any serious lessons from the Bush 41 Savings and Loan Junk Bond meltdown.

Sadly, so much of what happened in 2008 with the banks was not illegal as stated by Obama.

Things like junk bonds in their time and derivatives and hedge funds today are little understood let alone regulated by realistic laws to protect the public.

Mitt Romney and Bain Capital did not break any laws that we know of.  But taking, looting pension funds from employees, taking other benefits away like healthcare  and outsourcing old jobs to China and India is the way American business operates these days.  Not very Christian by my definition of such.  But Mitt has a Mormon bible besides the Judeo Christian bible by which to live his life.

No doubt the 21 trillion dollars worldwide hiding out in offshore tax havens is part of the reason Mitt refuses to reveal his recent tax returns, that and the 10% of his income donated to his church and their related hate projects ongoing as holy on Temple Square, Salt Lake City.

Putting lipstick on a pig like with Bain Capital operating methods or Mitt’s “humanity” is a metaphor Jesus would understand and be amused by. 

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Mount Vernon Tea Party with Ed Meese

The who’s who of the crooks from the Ronald Reagan years of government retardation, deregulation and outsourcing for profit only for your crony buddies - a group of fat cat white Republicans - met at George Washington’s old slave plantation as an appropriate setting to unveil their sole claim at being so-called Conservatives and trying desperately to claim lineage from William F. Buckley Jr. They met to sign a symbolic document, symbolic of the setting – The Mount Vernon Statement.

Can a New Conservative Manifesto Woo the Tea Party

...on display Wednesday, Feb. 17, when on the eve of the Conservative Political Action Committee (CPAC) conference in Washington, more than 80 conservative leaders gathered on the grounds of George Washington's former Virginia estate to unveil a manifesto reaffirming the movement's beliefs.

Like a bunch of heroin addicts or flies and insects on a corpse, in fact Reagan's corpse, the Regan fat cats can’t get enough of free government funding either by no-bid, no-show government contracts or by tax free “non-Profits” that are conduits for cash from all over the planet to enslave the American Government in special interest only concerns.

The Tea Baggers have started a ground work movement, not unlike the grunt patriots who shed blood in the American Revolution but got Jack Shit afterwards with the Washington, Adams, Hamilton, Jefferson fat cat club of that day and age.

First signer on this so-called Mount Vernon Statement is no-show to justice Ed Meese, a one time supposed Attorney General under the emperor god Ronald Wilson “B Film/Hollywood actor” Reagan.

Briefly saw the document on line but it has been pulled. The first two signers online were “Adolph Hitler” and one “Joe Dufus” according to Christian Science Monitor.

Mount Vernon Statement: A fake Hilter outdid conservatives online

I can't make this stuff up better than that. Perhaps they got the part time no benefits temp from Fox News to set up the website? You know, the temp who is always putting film of millions of people on the Mall in D.C. whenever there is gathering of ten or more tea baggers.

I cannot quote exactly, but besides all the usual boilerplate nineteenth century rhetoric about freedom isn’t free or some such similar nonsense, now offline, they were calling for “true Religious liberty” What the hell does that mean?

Tax-free voodoo is one thing. You mean we are going to have to do back to the middle ages and pay taxes to the churches again – that on top of the taxes we already pay to our dysfunctional national joke – our national government - the true Ronald Reagan legacy of the CINO "Conservatives in Name Only" movement???