21 | May | 2012 | Existential Ennui

Tags

Bain, economics, Election 2012, Politics, Romney

Although our boy Willard avoids Mormon faith like the bubonic plague, I’m pretty sure that lying is still a sin in the “Mormon bible. And by every account I’ve come across, Mitty takes his faith seriously.

But apparently he doesn’t take it THAT seriously. Just serious enough to attempt to placate the religious masses with things like claiming that the US Constitution was “probably inspired,” and other self-serving chatter like that.

Willard has a case of the lying when it comes to just about anything that he thinks will work to get him elected president of these here United States of Merika. And what he lies most about is how he’s this wonderfully brilliant economic business genius.

And then he assures us that once at helm of the ship of state, he will fix all our financial woes. Of course President Obama doesn’t believe in free enterprise at all according to Mitt-Wit, he hates it in fact. On the other hand, Bain CEO the Mitt-meister, knows that business is just a case of strong-willed smart men willing to bet their fortunes on business schemes that, should they fail, will leave them paupers. That’s the difference between them and us–guts. We prefer to stay attached to our safe and boring little pencil-pushin’, lathe-operatin’ jobs for that “steady” paycheck, while brave souls like Mitty risk it all on their business acumen.

Naw, not really.

Actually they have scammed the game of free enterprise so that it never goes tilt.

Bain doesn’t go into a failing business, pour tons of cash in, restructure and so for and then sit and hope for the best. Far from it.

Basically what Bain does it access the money on hand of the company in question, take half of it, assess another quarter of the remainder for “professional expenses” and then restructure what is left and “hope for the best.” If it works, well that is nice. If it doesn’t, well, Bain has it’s profit, and the company is sold off in bits and pieces, Bain taking the bulk no doubt for its expenses, and paying off creditors if there is anything left.

This is what, in my opinion the Obama team is missing. They keep attacking Bain as if it is careless of the companies it takes on to “fix”, and even callous about the workers there. It is not. It’s just that they rig the game to win regardless. That’s not capitalism. That’s a scam, that it seems to me, leaves the crippled company in greater danger of going under than it would have if it had simply hired a new team to run things, and paid them the normal salary.

In today’s game of high-stakes venture capitalism, true capitalism is not being played. The playing field is anything but level. The rich have structured it so that succeed or fail, the rich get paid no matter what. It’s the way the CEO business is played these days–you don’t have to show a profit as CEO–your golden parachute is there cushion your fall regardless.

This is what Mitt-face is promoting–a corporatocracy where the “right” people control the wealth , establish what you “need” in salary, and maintain a stable workforce, one that has little or no recourse, except another job which is basically the same.

The Obama team needs to attack the very premise that what Romney and company do, remotely resembles free enterprise.