May 30, 2012

"It's capitalism vs. crony-capitalism."

"Romney: I’ll See Your Bain And Raise You A Solyndra."

17 comments:

traditionalguy said...

Any Bain can crash a company, but it takes an Obama conjurer to seduce whole States into permanent poverty by visions of operating useless High Speed Trains with no passengers.

AprilApple said...

Romney took on risk in the private market. Obama risks and loses tax payer money every day, makes his cronies and donors rich, blames everyone else for the mess, then heads out for another round of golf.

BigFire said...

Tell me about it. In California, Jerry Brown is determine to build a monument to his legacy of a high speed rail from nowhere to nowhere.

Chris said...

No, it's crony capitalism vs. crony capitalism:
http://articles.latimes.com/2012/jan/12/nation/la-na-bain-subsidies-20120113

If you think Romney is any better in this regard...well, Hope and Change.

Original Mike said...

I think the graft angle, while justified, is misguided. The central point is that the government has no business picking winners and losers. They're lousy at it, even if everything is on the up and up.

ndspinelli said...

Having politicians invest OUR money in companies is fundamentally flawed. Stop taking OUR money and we'll pick the winners and losers. Independents like myself will respond strongly on that. This is a winner for Romney, not the Reefer Madness idiocy.

edutcher said...

Damn, I am really starting to like this guy.

As Lincoln said of Grant, "I can't spare this man, he fights".

Jay said...

Cris said...
No, it's crony capitalism vs. crony capitalism:


No, it isn't.

See a "tax subsidy" by a local or state government isn't a "loan" which will never be repaid.

Shanna said...

If you think Romney is any better in this regard

Romney didn't spend any of my money, Obama did. This is as good an opportunity as any to bring up the insanity that was solyndra.

X said...

Obama Capital (ACORN) went bankrupt in about 5 nano-seconds without taxpayer support.

tim in vermont said...

Let's review Solyndra, shall we? A bunch of well connected "businessmen" made investments in Solyndra, hoping to profit personally. That investment went bad. At the last moment, Obama came along and made those investors whole again by guaranteeing a loan, so that we taxpayers took the loss, when, had their been a profit, it would certainly have gone to those connected businessmen.

We also know that while this application was made during the Bush administration, it was not approved by them and *was* approved by the Obama administration, when was clear to almost everybody that the company would fail.

Lot's of people lost their jobs, but the investors walked away with their money. Sounds almost like the description of a "corporate raid" by Bain as told by Garage himself, except that the above is all true.

Jay said...

Ok, saying that a steel company getting a tax break is the same as:

71% of recent Energy Department grants & loans went to individuals who were bundlers, or other large donors.

Is silly. These "loans" went to people who were big Dem donors.

That is crony capitalism.

damikesc said...

Obama Capital (ACORN) went bankrupt in about 5 nano-seconds without taxpayer support.

Check out how the Spanish green energy industry has fared with the government keeping them afloat.

Green energy is a notoriously bad money loser. Few things could possibly be LESS profitable.

Methadras said...

Bain Capital is a risk mitigation operation. They do not, like any company that does what they do, go into a position without reducing their risk profile as low as possible. If they do take on risk, it would be deliberate on a hedge that it will be mitigated elsewhere. The idea that they create jobs from this as a first order function is preposterous. A company like Bain, and frankly every company in existence requires revenue generation, growth, and profit in order to create jobs. Hence, job creation is a natural and organic outgrowth of wealth creation.

The government believes that its duty is to create jobs solely as a function of its existence while ignoring the entire process of what it takes to create jobs, namely growth, wealth generation, and profit. Three things that government does and doesn't do. Specifically government grows, but it cannot generate wealth and it cannot create profit. In that case, you cannot have job creation and that is something evident in governments ability to 'create' jobs. They need to stop lying, get out of the way of businesses and let the private sector handle its business without their interference. They are the problem.

ndspinelli said...

Our Prez is just trying to bond w/ the King of crony capitalism, Putin. It's estimated Putin is now cworth billions although officially, he's not a millionaire yet.

Revenant said...

If you think Romney is any better in this regard...well, Hope and Change.

"Partially taxpayer funded" sounds better than "entirely taxpayer funded" to me...

Hagar said...

The government sponsored "alternative energy industry" has nothing to do with any kind of capitalism. It is just some "true believers" using your money to fund their faith projects, and of course the predators and scavengers gather around.

To be fair, the regular energy companies get into it under threat of retaliation if they don't behave.