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Friday, January 13, 2012

Romney, Bain, My Standard Colonel Reference

Sully asks a good question via Romney about the "noble job creators" we demand to fetishize in the name of "capitalism":
As the New York Post reported,
Romney's Bain invested 22 percent of the money it raised from 1987-95 in five businesses - Stage Stores, American Pad & Paper (AMPAD), GS Industries, and Details - making a $578 million profit.
Every one of them went bankrupt, with the loss of many, many jobs. The question Romney has to answer is: how is it "capitalism" to make so much money from companies that went bankrupt? It's one thing to be a businessman and make money by building an enterprise. But Romney never managed a business, apart from Bain. He just made a large part of $250 million by investing in companies that went belly-up.
You don't need to simply paint Romney as being evil incarnate to decide that this sort of thing isn't something you want to be a part of mainstream economics. For every one Romney, there are millions of people who are potential employees for these sort of companies, ie millions of people who could get massively screwed over. While there's always gonna be sharks like Romney out there, officially signaling you're a big fan of this kind of "capitalism" by voting for Romney might not be in your best personal interest.  Maybe The Colonel ain't going nowhere, but it ain't the chickens' job to fry themselves.

And as for the title of Evil Incarnate, this bitch Jennifer Petkov gets my vote.

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