Mitt Romney and the truth?? We don’t need no stinking facts!

Thank you, Mr. Rattner, for exposing Mitt Romeny as an empty suit.  After giving Wall Street the gold mine ($1 trillion TARP and $13 trillion no strings overnight loans) Wall Street froze commerce and credit and brought the auto industry to its knees.  And on its knees the auto industry approached congress for a $34 billion loan - and were told to bankrupt their contractual obligations to the unions.  $34 billion is about .002% of the $14 trillion given Wall Street – and some wags, include the horse’sass Romney, wanted to use the opportunity to take down unions, workers, their families, deprive them of security and home and food and opportnunity.  Mitt Romney is wrong for Michigan and wrong for America.  IOW, he’s a Republican. The most fearful words in the English language are, “I’m a Republican and I’m here to help.”

The Bain Of America’s Existence(sung to “If I only had a brain”)First we buy ‘em, then we fire ‘emThen we offer to rehire ‘em,At wage that causes pain…Then we load out the machinerySellin’ it for China greeneryThat’s they way we work at Bain.Then we cut employee hoursUntil the venture sours.Another business down the drain.Next we raid all the pensionsAnd sell the patented inventionsJust another day at Bain!Oh, I would tell you whyThe jobs have all been sent offshoreI’d think of ways to even send them moreAnd then I’d close… the corner storeYes, I wont be just a raiderBut a Limbaugh certified Free TraderShowin’ Obama my disdain.But I’ll get a beratin’When he and I start debatin’Because I can not run from Bain!’Cause I’m just an asset stripper,A Corporate Jack the RipperIn magic Mormon underwearAmerica had best watch her backShe’s my next victim to attackIf I win, She hasn’t got a prayer!__________________________Charles Ulysses Feney

How can you say that the man who proposes that illegal immigrants “self deport” engages in fantasy?

What a shock that Obama’s paid lackey is defending him.  I’m certain that the same people support the bank bailouts.

“I don’t call it a bailout I call it a rescue.”

Yeah what does Romney know about private capital coming in and saving bankrupt businesses?  Oh wait….that’s how he made hundreds of millions of dollars.  Of all the things to criticize Romney with this would be the last angle I would take.

Vulture capitalism is Romney’s expertise.  Why listen to a big government failure like Steven Rattner?

“if Mr. Romney disagrees,” Rattner challenges, “he should come forward
with specific names of willing investors in place of empty rhetoric.”

Romney is lying out of his ass and Rattner knows it.

Honesty cause Willard discomfort. Comfort is so much nicer.

Shutting down Chrysler/GM for a time while the economy took a breather would have left the country better off, they could have done a short term shutdown then gone in to bankruptcy, instead of gifting billions of our tax dollars to the unions before going bankrupt anyway.

This is the same Steve Ratner who pled guilty and paid a $10 million penalty for receiving kickbacks to manage retirement funds.  He bacame part of the .0001% by stealing from the hard working NYS union workers.

There was nothing honest in the Auto Bailouts…  I am sure that the country as a whole did not want to see those plants closed down permanently, but at the same time there are plenty of people from all over the country who do not support the structure of the bailouts, it was mostly a gift to the unions, and structured in a manner that we would never be paid little more than a few pennies on the dollar.  

While I don’t remember the facts of the matter, didn’t some of the airlines file for bankruptcy? 

A managed bankruptcy would have given GM and Chrysler (now owned by FIAT) a way to cut the crazy union obligations that were, AND WILL ONCE AGAIN, destroy the automobile business. Moreover, never before have I seen the laws of our country so completely ignored and then violated by an administration. The bondholders were screwed and left to twist slowly in the wind.

Newt was right, the automobile manufacturers who have located in states that are right to work states are doing well. 

Obama only cared about giving money to his supporters, and that’s how he has “governed,” such as it is “governing.” Dole out “Obama’s stash” to whatever large financial donors (UAW, SEIU, Solyndra, Ener1) and to whatever ill-informed voters whose votes can be bought for $40. 

I guess Rattner didn’t like being called out for being “a politically connected and ethically challenged Obama-campaign contributor” in that op-ed that Romney wrote in the Detroit News not long ago.

What isn’t a fantasy from The Chamelon?

 Yes, virtually every major national carrier has filed for bankruptcy in the last dozen years.  I agree completely with your comments about the bond holders.  For the first time in American history, the federal government inserted itself into a failing business, stripped the secured creditors of their equity positions and gave that equity – in the form of a debt-free holding company – to a political ally – the Auto Unions.  The whole thing was disgusting.

I’m not a fan of TARP – either the funds given to the Wall St. banks, or to GM/Chrysler.  But, the fact of the matter is every penny lent to the Wall St. banks has been repaid, with a modest return on investment for the American taxpayers.   Of the TARP funds outstanding, it all belongs to non-Wall St banks (community banks), and GM/Chrysler-  which together, have cost the American taxpayers hundreds of billions.

Most people also don’t realize that when a company normally goes through bankruptcy, the loans that are written off for that company come with a tax liability.  IOW, the filing company has to pay federal income taxes on the value of those forgiven loans.  GM & Chrysler had those taxes forgiven, again costing the US taxpayer tens and tens of billions.

NOTE: This was supposed to go to Stutterin_Jack

The tax gift was 30 to 40 billion dollars, so when you combine that with the stock losses we will have been repaid next to nothing…. Dems just don’t get the idea that the tax gift amounts to giving them taxpayer money to pay the taxpayer back with… Their all crooked.. Rattner was paying kick backs to officials in New York who controlled the New York pensions and directed money to the funds he managed.. He paid over 16 million to get himself out of that mess, but bottom line is that he is a criminal, who you see writing for the New York Times, appearing on MSNBC, and still celebrated by the left.

Brilliant.

This is just another Romeny-isc bolt to the far right that he himself
does not believe in and that he’ll not be able to undo in the general. Rightists are just damaging Romney beyond repair at this point not knowing and believing they’re replicating dems 2008 primaries

What a surprise, Obama auto task force guy says romney is wrong.

“The auto task force, he adds, actively sought and could not find any investor willing to provide the private capital needed to fuel the auto companies through this “managed bankruptcy.””

what a surprise, couldn’t find any rich guys to waste their money on this pile of dung.

 50billion dollars IS a lot of dough, well unless its Other Peoples Money

Of course, you must keep the host alive so the parasites dont starve.

GM will be able to repay the loan, there is no doubt. The feds are now subsidising GEs buying of thousands of Volts, Im sure once you figure in all the tax credits and green subsidies GE is paying little if anything for each one, the first order of 12,000 was placed this week. Load up on GE and GM stock because they both have a cant lose situation going.

That’s got to be one of your best, and that’s saying something.

That sounds like a wonderfully sensible approach — except that it’s
utter fantasy. In late 2008 and early 2009, when G.M. and Chrysler had
exhausted their liquidity, every scrap of private capital had fled to
the sidelines.

Private capital was illegally stolen in order to keep the parasitic UAW attached to the jugular of whatever could be kept alive with billions in taxpayer cash. I can’t imagine why they wouldn’t want to toss more good money after bad into the new UAW Motors.

Let us not forget that every company Romney touched in his time at Bain went on to bigger and better things. It’s not like people can name companies they bought which were profitable, which became loaded with debt and eventually went bankrupt or anything.

Care to name the auto manufacturers that are primarily doing well because all their plants are in right to work states? I’m interested to see if Ford is among them, you know, the company that was kept alive for years by the profits from sales of cars produced in notoriously union unfriendly Europe, or maybe German companies like VW that are just about ticking along thanks to non unionised plants in the United States subsidising all their unionised plants elsewhere. :)

Seriously, Unions weren’t to blame for the situation GM and Chrysler found themselves in, the management failing to adapt to a changing market was.

If you let an industry die that isn’t beyond help, it will never return and it will take out the majority of their supply chain to boot and everyone knows it. There seems to be some grand delusion among people on the right, that were they to go under and companies like Bain buy the remains, they’d keep on going as a big American manufacturer, only more streamlined and union free as they were totally the real problem, not the horrible decisions made by the management.

In a way, they’re half right, people would come in, buy the remains and streamline the company, ending the union influence, but they’d do it by sending almost all the production to Latin America or the far east, heck, even to India where they wouldn’t have to pay people a fair wage and give them decent conditions, leaving companies that are American in name only. The American companies that supplied them with parts and materials wouldn’t automatically get new contracts with the revived car companies, nor would they somehow get contracts with Ford or foreign manufacturers, they’re more likely to go under, as would people that supplied them and onward down the chain… But hey, devastating the manufacturing sector creates jobs, just not as many as it kills, but on the bright side, they’re non union so everyone wins.

Rattner is the piece of garbage that sold out the bondholders and preserved the UAW parasites. 

Human beings aren’t parasites.

Perhaps Rattner is a failure, but Romney an expert at saving business and jobs?
He was a success at extracting money for his firm with leveraged buyouts.
From my research, his success rate on companies success was 50/50, but Bain ALWAYS walked away with cash, extracted before the doomed companies failed.

http://www.romneygekko.com/files/romney-record.jpg

A former Obama Advisors says Romney is lying?!!  Well thats a credible source!

Also, in other news, a Red Sox fan says the Yankees suck.   It must be true!

My goodness, the architect of the bankruptcy settlement that screwed the boldholders to reward the politically-connected unions says that the counter-plan Romney describes wouldn’t work.

Next on Mediate: sunset coming, darkness will follow.

 If you’re going to laud Rattner, you ought to bone up on Quadrangle, and Ratty’s relationship with the foul soul known as Alan Hevesi….

Quit whining about the “bondholders”.  They were a bunch of hedge funds that bought the bonds for pennies on the dollar speculating they could be repaid dollar-for-dollar.

If they got screwed, that’s one of the best things that happened.

GM made $7.6 billion in 2011.

Please explain what private capital was illegaly stolen.  I just can’t wait for your brilliant analysis.

The bondholders are the parasites. 

Bunch of hedge funds like Bain Capital trying to make few quick billion.  At least the guys on the assembly line put in an honest day’s work.

The anti-union stuff is stupid.

The UAW guys now make about $14 an hour.  Isn’t that just friggin’ outrageous?  I mean, we’re talking about $30,000 a year.

Mr. 15% taxpayer on a $21 million income while not working thinks this is just unbelievable.

Mitt Romney’s father would be so ashamed of him if he could see him today. George Romney was a good man.

Get it copyrighted, it’s definitely a HIT,and quite appropriate before the general.

?????     Waiting…..

 The vast majority of government money was not a loan but converted into stock.  It may take a long time if the government gets that back.