Mitt Romney's Bailout Bonanza: How He Made Millions From The Rescue of Detroit

[firstandten]

just so I can understand

Romney investing his OWN money in a failing company and making a profit = BAD

the government investing out TAX DOLLARS in a failing company and losing money = GOOD


move forward???

If the government used Romney's strategy of investing in failing companies it too would make a profit. However public policy would take a huge hit and thats why comparing the two is not a good comparison

[Wesley Mouch]

Agreed, Look @ Dick Cheney, Halliburton, & the Iraq.

Sure -- but those would be abuses of power. And I should suspect that you see evil in every step Romney takes. I'm looking, but haven't seen evil yet.

As to profiting from failure, I was thinking more about Apple [[profiting on Bill Gates failures)... or Toyota [[capitalizing on 1) America's big, crappy car culture of the 60s/70s/80s, and 2) America's failure to create a viable hybrid first.)

[gnome]

just so I can understand

Romney investing his OWN money in a failing company and making a profit = BAD

the government investing out TAX DOLLARS in a failing company and losing money = GOOD


move forward???

Lord knows we certainly do not want anyone investing their own money. That is too risky. investors should stay on the sidelines until all risk is depleted, because risky investments make you nervous and nervous people are generally unlovable.

On the other hand, when we donate our tax dollars to good causes we get to feel good about ourselves, which is a definite plus. When we feel good, we are friendly to each other, and usually that translates into happiness and most importantly, a higher nookie quotient. High nookie counts are a huge plus and certainly a side benefit of being a content and happy person. Hence, I'm not seeing a downside to the battery thing or that solindra thing. They are good causes, they used your tax dollars, so everyone should be happy and looking forward to big smiles.

Just because the Granholm and Obama investments didn't pay off, is no reason to be mad because soon your nookie count will increase and you'll be really relaxed.

So, I don't understand the whole "f*ck Ronmey" thing, because he is so tense from all that investing and making money thing, he obviously is too tense to f*ck anybody.

Relax, just because some folks don't know how to invest your money is no reason to be upset; in fact it is a sure bet you'll soon be getting it back in other feel good ways and since those failed investments used your money, and since you are guaranteed a happy ending, you can think of it as f*cking yourself.

So, be happy, go f* yourself. That's your only hope.

[Honky Tonk]

"So, be happy, go f* yourself"

You're about the 6th person to tell me that today......

"And I should suspect that you see evil in every step Romney takes"

I gave Mitt the benefit of a doubt, listened to his speeches, ideas, and observed his movements. I'm not particularly happy with Obama's performance, he really screwed up in a lot of places, particullarly not shoving through a comprehensive, all-encompassing health care system that won't kill you or have you eating dog food for the rest of your life, just to pay for it. Listening to Mitt Romney is like standing on the edge of a dark lake and watching the flat water. Every now and then you see large ripples on the surface, and your quite sure something big is underneath in there, but you can't quite put your finger on it. It makes me cautious not to go in. Let me give you an example by posting a link to NPR, [[that damn Liberal-Communist, anti-American radio station that we need to do away funding for), about Mitt's miner speech in OH, and what went on "beneath the surface". Let me know if you're ready to take the plunge....

http://www.npr.org/2012/10/08/162524...to-coal-miners

[Goose]

If the government used Romney's strategy of investing in failing companies it too would make a profit. However public policy would take a huge hit and thats why comparing the two is not a good comparison

so to understand, wrap my mind around it:

GM + tax dollars + loss + spread the loss = GOOD PUBLIC POLICY

Staples [[or Domino's Pizza, or Sports Authority) + private equity investment + capital gains = GORDON GEKKO

hope and change?

[firstandten]

so to understand, wrap my mind around it:

GM + tax dollars + loss + spread the loss = GOOD PUBLIC POLICY

Staples [[or Domino's Pizza, or Sports Authority) + private equity investment + capital gains = GORDON GEKKO

hope and change?

What are you saying ? without the gov't help for GM we are talking about bankruptcy and not a restructuring of debt but a liquidation of assets.

Your other example.. remember KB Toys you know that toy store that use to be in all the malls. Bain Capital did a job on them ... made a bunch of money Gordon Gekko style for the people at the top. Employees lost there jobs and the company has been liquidated. Bain put so much debt on them they had no hope of ever paying it back.

Romney.. trust me ! I'll tell you my plan as soon as I'm elected !

[Goose]

What are you saying ? without the gov't help for GM we are talking about bankruptcy and not a restructuring of debt but a liquidation of assets.

Your other example.. remember KB Toys you know that toy store that use to be in all the malls. Bain Capital did a job on them ... made a bunch of money Gordon Gekko style for the people at the top. Employees lost there jobs and the company has been liquidated. Bain put so much debt on them they had no hope of ever paying it back.

Romney.. trust me ! I'll tell you my plan as soon as I'm elected !

with your logic, once a company is started, they can never fail or be closed... and once you have a job at a company, its guaranteed for life, despite profitability....

i've opened and closed small businesses myself, im still paying taxes off on a failed business 7 years ago.... people got fired, i liquidated the assets... im still paying...

not every business survives..... *unless your liberal government is there with bailout money from the taxpayer to keep you afloat....

remember Packard
remember Eastern Air Lines
remember Woolworths
remember Delorean Motor Car

business and profit is risk... but not with the taxpayers money.... why is anyone bitching and moaning what anyone does with private money but has no problem stealing from hard working people and distributing it from food stamps to corporate welfare... END IT ALL

[Goose]

Romney.. trust me ! I'll tell you my plan as soon as I'm elected !

thats funny - Obama - well, my plan is the same as I said 4 years ago... didn't work then, but this time, trust me......

[firstandten]

with your logic, once a company is started, they can never fail or be closed... and once you have a job at a company, its guaranteed for life, despite profitability....

i've opened and closed small businesses myself, im still paying taxes off on a failed business 7 years ago.... people got fired, i liquidated the assets... im still paying...

not every business survives..... *unless your liberal government is there with bailout money from the taxpayer to keep you afloat....

remember Packard
remember Eastern Air Lines
remember Woolworths
remember Delorean Motor Car

business and profit is risk... but not with the taxpayers money.... why is anyone bitching and moaning what anyone does with private money but has no problem stealing from hard working people and distributing it from food stamps to corporate welfare... END IT ALL

I think we all here on the board understand business is a risk no job is guaranteed. However first world nations do not let there major industry go belly up.. Japan with Toyota, Germany with VW and S Korea would never let it happen. What the US did is no different.

[KJ5]

Money is like crack to Romney. I'm grateful I'm not like him and I sure hope that he loses.

[Cincinnati_Kid]

Money is like crack to Romney. I'm grateful I'm not like him and I sure hope that he loses.

I agree, Obama may have his faults, everyone does. But I'd rather take a chance of four more years with him, than "Forrest Gump"

[noggin]

I think the Obama way to shovel money down politically correct investment holes is the way to go. If you follow this story below Ms. Granholm proved bringing federal money back to Michigan will save our economy.

http://www.woodtv.com/dpp/news/target_8/Volt-no-jolt-LG-Chem-employees-idle

Giving money to the UAW for GM so they can throw money back to Obama's political campaign is the right thing to do.

[jackie5275]

Romney.. trust me ! I'll tell you my plan as soon as I'm elected !

Which is alot like Rick Snyder!

[Wesley Mouch]

Which is alot like Rick Snyder!

For all this talk about 'plans'... I much see one. Ever.
Frankly, none of the politicians have anything that resembles a plan. Sure, Romney is the worst here. His plan is vapor. Obama -- slightly better in my book [[as for plans). But right now he doesn't get a plan. He is the President. His plan should already be in effect. The last four years have been time to do. Not plan.

I think the pols like 'plans', because it sounds good. They get to say some rather worthless words, doing their best not to offend their base.

They all seem like losers.

Of all the pols around though, Snyder seems to most have a plan [[reduce taxes, good governance, deal with Detroit). So I see a plan -- whether you like it or not.

But back on topic...

So Romney makes a risky investment in GM -- and it pays off. What's the problem? Take risk. Get rewards.

I'm willing to hear arguments that he violated some law on 'blind trusts'. I'm willing to hear an argument that the gains were ill-gotten. But they aren't presented. All I'm hearing is: Bad Romney. You shouldn't make money.

Not much of an argument against the man.

[Crumbled_pavement]

So Romney makes a risky investment in GM -- and it pays off. What's the problem? Take risk. Get rewards.

Absolutely nothing. So, uhhh, what in the world is Romney crying about? Obama provided the opportunity for Romney to make an investment that made him millions of dollars and now Romney is belly aching about it.

[Wesley Mouch]

Absolutely nothing. So, uhhh, what in the world is Romney crying about? Obama provided the opportunity for Romney to make an investment that made him millions of dollars and now Romney is belly aching about it.

As said before. You can disagree with someone's handling of things, yet work with them, invest in them, like and respect them.

When GM was in trouble, Romney thought that regular bankruptcy would have worked better than the bailout. He disagreed with the President. We'll never know what would have happened if GM had gone into bankruptcy.

That uncertainty isn't a reason to avoid an investment. In fact, its a reason to make that investment. He did it seems, and it paid off big. That's exactly why you do sometimes invest in failing companies. Romney would know this. Buy when things are really bad, and you can be rewarded. If GM had gone bankrupt, Romney might have lost his investment. So what. He and his are making dozens of them a day.

[Crumbled_pavement]

When GM was in trouble, Romney thought that regular bankruptcy would have worked better than the bailout. He disagreed with the President. We'll never know what would have happened if GM had gone into bankruptcy.

There wasn't any private capital to invest in GM at that time. That's why GM came to the govenment. So again, Obama created an opportunity for Romney to take a risk that he got nicely rewarded for. So what is Romney's gripe?

Wesley, let me help you out here a little bit. I disagree with 90% of your posts. However, if you hand me a million dollars today, I wouldn't belly ache about it. In fact, you'd get glowing words from me.

[Wesley Mouch]

There wasn't any private capital to invest in GM at that time. That's why GM came to the govenment. So again, Obama created an opportunity for Romney to take a risk that he got nicely rewarded for. So what is Romney's gripe?

Wesley, let me help you out here a little bit. I disagree with 90% of your posts. However, if you hand me a million dollars today, I wouldn't belly ache about it. In fact, you'd get glowing words from me.

I don't hear griping. He's clearly said he disagreed with Obama's approach at the time. And he's wiggling around because Ohio has lots of UAW workers who were the primary benficiaries of the citizens support of GM. Sure -- Romney found a way to make money. But don't lose sight of the fact that the real winners were the UAW -- who stood to lose pension and a real reset of wages if GM went under.

[canuck]

I wouldnt waste a tear if Romney loses on an investmment but I sure do hurt about workers losing their livelihoods with very little backup when shit hits the fan. The Romneys of this world dont care much about the plight of ordinary workers. I am not impressed by his business acumen either.

I am impressed by Obama's career after law college where he decided to forego the usual "entitlements" in order to help the less fortunate in Chicago.

All the Mormony sermonizing Romney can dish out doesnt make him a caring statesman. What the US needs is a statesman who cares about people not money. There are plenty of specialists who can handle that with talent. The USA is not a corporation and it shouldnt be run like one. It shouldnt be run like a worker's union either by the way.

[Wesley Mouch]

I wouldnt waste a tear if Romney loses on an investmment but I sure do hurt about workers losing their livelihoods with very little backup when shit hits the fan. The Romneys of this world dont care much about the plight of ordinary workers. I am not impressed by his business acumen either.

I am impressed by Obama's career after law college where he decided to forego the usual "entitlements" in order to help the less fortunate in Chicago.

All the Mormony sermonizing Romney can dish out doesnt make him a caring statesman. What the US needs is a statesman who cares about people not money. There are plenty of specialists who can handle that with talent. The USA is not a corporation and it shouldnt be run like one. It shouldnt be run like a worker's union either by the way.

Nice post, canuck. And I do think Obama is a pretty good guy. And hasn't been a bad president either. I simply have different beliefs. I don't think think 'caring about people' is as important as 'creating a vibrant economy'. I believe government's primary role is to create the environment for businesses to thrive. This helps people. And people can help each other. Some government safety net is necessary.

So while I think Romney isn't quite as nice a guy, I think his middle-of-the-road, slightly conservative political and business career will serve the country better over the long haul -- in my opinion.

[RickBeall]

It is definately evil that Romney is smart enough to make a profit in the rising dust cloud of Detroit.

[BagAJellyDonuts]

It is definately evil that Romney is smart enough to make a profit in the rising dust cloud of Detroit.

Like Kwame?

Neither candidate is "great" but the IMO the Democratic party agenda is pure insanity. Obama may have good intentions but the party is out of control. Wish elections were more like Dancing With The Stars where you get to vote the worst off first.

[Cincinnati_Kid]

Of all the pols around though, Snyder seems to most have a plan [[reduce taxes, good governance, deal with Detroit). So I see a plan -- whether you like it or not.

Tax pensions, don't leave that out........

[Cincinnati_Kid]

I don't hear griping. He's clearly said he disagreed with Obama's approach at the time. And he's wiggling around because Ohio has lots of UAW workers who were the primary benficiaries of the citizens support of GM. Sure -- Romney found a way to make money. But don't lose sight of the fact that the real winners were the UAW -- who stood to lose pension and a real reset of wages if GM went under.

Thanks to Obama. I doubt if that would be the scenario if Romney's plan went through. Pensioners would have had to deal with the PBGC then. Not a good proposition.

[Honky Tonk]

"No thanks to Obama. I doubt if that would be the scenario if Romney's plan went through. Pensioners would have had to deal with the PBGC then. Not a good proposition."

'Splain, Lucy......