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(Newsweek)   "Mitt Romney was not a businessman; he was a master financial speculator who bought, sold, flipped, and stripped businesses," says noted liberal pinko former budget director for Ronald Reagan   (thedailybeast.com) divider line 254
    More: Interesting, Mitt Romney, David Stockman, Ronald Reagan, economic values, annual percentage yield, Dodge City, capital structure, free market economy  
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10388 clicks; posted to Politics » on 15 Oct 2012 at 12:35 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-15 02:37:31 PM  

Supahl33t: My bad, we haven't had Democrat lawyers try to run the country.

Democratic and Republican Presidential and Vice-Presidential candidates since 1980, and let's seehow many lawyers there were:

[Democratic] Attorneys (10 out of 12 total - 83%)
Obama
Biden
Kerry
Edwards
Lieberman
Clinton
Dukakis
Bentsen
Mondale
Ferarro
[Possibly Gore, who never graduated - if he's included, the percentage is 92%]
Carter was the only non-lawyer, non-law school attendee.

[Republican] Attorneys (2 out of 9 total - 22%)
Dole
Quayle

Non-lawyers - McCain, Palin, Bush 43, Cheney, Kemp, Bush 41 and Reagan

Keep on grasping there you twit.


Percentage of Democratic lawyers presidenting us into a financial collapse - 0%

Percentage of Republican MBA's presidenting us into a financial collapse - 100%

Also, Romney has his juris doctorate as well as his MBA, so I put the probability that he will president us into a financial collapse at 204%. QED.
 
2012-10-15 02:40:21 PM  

Karma Curmudgeon: Percentage of Democratic lawyers presidenting us into a financial collapse - 0%


Barney Frank wasn't a lawyer? I mean, I suppose he wasn't a president, but a lawyer? Yes. Very yes.
 
2012-10-15 02:40:23 PM  

lordaction: So when the private sector does it = evil. When Obama does it with bailouts, QE2, Solandra, etc = genius.

And liberals wonder why people think they are idiots.


Dude, weak.
 
2012-10-15 02:40:42 PM  

mark12A: complex financial manuevering needed to get us out of the current mess


I didn't realize that reinstating Glass-Steagall and making millionaires pay their fair share of taxes was so complex.
 
2012-10-15 02:41:18 PM  
Wow. The right wing idiots are sure getting bolder on Fark. The dialog gets more and more strident every day.

I guess that's the desperation that comes from knowing you're going to lose the election.
 
2012-10-15 02:41:42 PM  
 
2012-10-15 02:42:19 PM  

propasaurus: And even if you do accept that he was a businessman, a genius who ran a company, what's he done since he retired in 1999?


hhmmm I dunno.. how about single handedly turning around the 2002 SLC Winter Olympics and also became the Governor of Massachusetts.... among a few thing he did.........

media.tumblr.com

what have you done lately with your life>?
 
2012-10-15 02:43:19 PM  

Karma Curmudgeon: Percentage of Republican MBA's presidenting us into a financial collapse - 100%


wat

Didn't Reagan lead us into prosperity for a while there? Of course, it all shiat the bed under Bush Sr...

/bububut Reagan!
//but, yes, the TREND is about right...
 
2012-10-15 02:48:20 PM  

mark12A: Because a "Community Organizer" Is sooooo much better at dealing with the complex financial manuevering needed to get us out of the current mess.....


not to play devil's advocate but in a way yes.. why ? because Obama knows he knows shiat about the economy therefore more likely to listen to actual experts.. whereas Mitt thinking he is an economics guru and uber businessman would more likely be more stubborn, prideful and close minded to ideas that are dissimilar to his in his administration.
 
2012-10-15 02:50:38 PM  

Verzio: Seriously, can't you guys find a Romney critic with even a tattered shred of credibility?


So you can't defend Bain either eh?
 
2012-10-15 02:50:44 PM  

DaCaptain19: At least Republicans didn't start this expensive and useless "war on drugs".


? The term was first used by U.S. president Richard Nixon, and was later popularized by the media.[7][8][9]
 
2012-10-15 02:51:32 PM  
This reminds me of the time Jesus flew to America and talked with the native American indians, who are decendants of the Jews, as everyone knows
 
2012-10-15 02:51:33 PM  

Bendal: So, how many jobs have you PERSONALLY created, Mitt, with that money from your 14% tax rate? He should have just lists and lists of businesses he has personally helped finance and create, and be able to point to a large number of jobs that this low tax rate allowed him to create.


Well he would have created at least 300-400 million jobs, but government regulations prevented him. Not to worry though, he has a plan to remedy that. By 2014 we'll have so many farking jobs that every American will need to have at least 3 jobs just to fill them all.
 
2012-10-15 02:52:35 PM  

SuperNinjaToad: mark12A: Because a "Community Organizer" Is sooooo much better at dealing with the complex financial manuevering needed to get us out of the current mess.....

not to play devil's advocate but in a way yes.. why ? because Obama knows he knows shiat about the economy therefore more likely to listen to actual experts.. whereas Mitt thinking he is an economics guru and uber businessman would more likely be more stubborn, prideful and close minded to ideas that are dissimilar to his in his administration.


Community Organizer is just another word for communist agitator. Obama has destroyed the economy in 3 years with his Marxists policies. You are really arguing that a man that has lived on the public teat his entire life knows how the real world works and is more capable of turning everything around? I find that hard to believe.
 
2012-10-15 02:53:03 PM  

Verzio: David Stockman?

Yes, I'm sure we can trust a guy who gave a middle finger to the Republican Party in 1986 to be non-partisan in his criticisms. I'm certain that a Wall Street finance guy who completely failed at running his own investment firm doesn't have any envy of someone who actually ran one successfully that might slant his judgment. I believe that someone whom the Bush SEC pursued and the Bush DoJ indicted for fraud doesn't have any resentment that might bias his opinions. And I know that the author of a new book will give his honest opinion, instead of something calculated to get publicity.

Seriously, can't you guys find a Romney critic with even a tattered shred of credibility?


Just a point of advice from a "liberal" Republican: Challenge the guy's facts, if you can. Don't make the guy or his life your target, it looks desperate and doesn't tend to convince people.
 
2012-10-15 02:53:15 PM  

Supahl33t: Karma Curmudgeon: Supahl33t: I'll take Lincoln over Woodrow "Let the KKK in the White House" Wilson any day.

And yet Wilson wasn't a lawyer but Lincoln was.

So, you don't really have a point, do you? Combined with this post, now I'm thinking you actually didn't try to make one, but instead are playing $10,000 Pyramid with us and the category is "Things Glen Beck might say".

My bad, we haven't had Democrat lawyers try to run the country.

Democratic and Republican Presidential and Vice-Presidential candidates since 1980, and let's seehow many lawyers there were:

[Democratic] Attorneys (10 out of 12 total - 83%)
Obama
Biden
Kerry
Edwards
Lieberman
Clinton
Dukakis
Bentsen
Mondale
Ferarro
[Possibly Gore, who never graduated - if he's included, the percentage is 92%]
Carter was the only non-lawyer, non-law school attendee.

[Republican] Attorneys (2 out of 9 total - 22%)
Dole
Quayle

Non-lawyers - McCain, Palin, Bush 43, Cheney, Kemp, Bush 41 and Reagan

Keep on grasping there you twit.


I notice you left Havard juris doctor Willard Romney off your list.
 
2012-10-15 02:54:54 PM  

lordaction: So when the private sector does it = evil. When Obama does it with bailouts, QE2, Solandra, etc = genius.

And liberals wonder why people think they are idiots.


In what way did Obama buyout these firms, take out loans under their names, pay out the loaned money (as well as anything in the pension fund) as stock options and consulting fees to himself and his business associates, and then put them back on the market in worse shape? In fact, how does QE2 even factor into this? How is government acting to support private enterprise by injecting money into an economy currently suffering undercapitalization is in any way the same as a group of rent seeking lobbyists who abuse this aid for personal gain in a way that harms the ability of other firms to operate?

It would be like saying if your gardner gets mugged than you are the same as the thief for giving the guy the money that got taken from him.
 
2012-10-15 02:55:32 PM  

SuperNinjaToad: propasaurus: And even if you do accept that he was a businessman, a genius who ran a company, what's he done since he retired in 1999?

hhmmm I dunno.. how about single handedly turning around the 2002 SLC Winter Olympics and also became the Governor of Massachusetts.... among a few thing he did.........

[media.tumblr.com image 500x224]

what have you done lately with your life>?


Single handedly? You mean by getting the federal government to bail out the Olympics and give sweetheart land deals to his cronies?
 
2012-10-15 02:56:48 PM  

HairBolus: DaCaptain19: At least Republicans didn't start this expensive and useless "war on drugs".

? The term was first used by U.S. president Richard Nixon, and was later popularized by the media.[7][8][9]


So you stopped at the first sentence?

Less well-known today is that the Nixon Administration also repealed the federal 2-10-year mandatory minimum sentences for possession of marijuana and started federal demand reduction programs and drug-treatment programs. Robert DuPont, the "Drug czar" in the Nixon Administration, stated it would be more accurate to say that Nixon ended, rather than launched, the "war on drugs". DuPont also argued that it was the proponents of drug legalization that popularized the term "war on drugs".[11]
 
2012-10-15 02:57:57 PM  
Time for another trip to the wood shed?

I guess not, I don't think Reagan is going to paddle anyone anymore.

/If you don't get this, google: education of david stockman
 
2012-10-15 03:04:19 PM  

Eddie Adams from Torrance: That's a kind of businessman.

Frankly it doesn't really matter. The idea that we need a businessman to run government like a business is farking retarded.

Most of the people that spout this nonsense have obviously never worked for a large corporation.. here's a tip, they're not exactly paragons of efficiency and creative thinking.


As opposed to government.

How anyone can think Barack "Government Solves Everything" Obama deserves re-election after his epic fail escapes me.

And no, Obama didn't "inherit" anything. Obama fought long and hard and spent $750M - while promising to fix the economy within 3 years - to succeed George Bush as president. Obama makes it sound as if he involuntarily inherited debts from a deceased uncle.
 
2012-10-15 03:05:06 PM  

xynix: Yeah but he's white and a huge supporter of the military industrial complex.

 
2012-10-15 03:07:08 PM  

StanTheMan: How anyone can think Barack "Government Solves Everything" Obama deserves re-election after his epic fail escapes me.


Hint, there's this thing called the private sector, how about pursuing the issue of why it hasn't done much to improve things?
 
2012-10-15 03:07:49 PM  

SuperNinjaToad: how about single handedly turning around the 2002 SLC Winter Olympics


Except he really didn't and then he took a bunch of government money to do what he did...
 
2012-10-15 03:08:03 PM  

StanTheMan: And no, Obama didn't "inherit" anything


I guess those wars Bush kept off the books paid for themselves like he promised.
 
2012-10-15 03:10:25 PM  

NowhereMon: mark12A: Because a "Community Organizer" Is sooooo much better at dealing with the complex financial manuevering needed to get us out of got us into the current mess.....

In a word? Yes.


I love this stupid liberal meme that Wall Street caused all of this. It's so convenient to absolve greedy, dishnest American homeownersborrowers, isn't it?

Liar loans - between dishonest greedy lenders and dishonest greedy borrowers - got us into the mess. Official government policy of lowering standards and flooding the market with credit got us into this mess.

The trading of mortgage backed securities and credit obligations (relying on said loans) compounded things, but would have done just fine had all those loans performed.

Liar loans and Fannie and Freddie and the Fed = HIV.
Wall Street = opportunistic infection that kills weakened body (i.e., AIDS).
 
2012-10-15 03:13:14 PM  

lordaction: SuperNinjaToad: mark12A: Because a "Community Organizer" Is sooooo much better at dealing with the complex financial manuevering needed to get us out of the current mess.....

not to play devil's advocate but in a way yes.. why ? because Obama knows he knows shiat about the economy therefore more likely to listen to actual experts.. whereas Mitt thinking he is an economics guru and uber businessman would more likely be more stubborn, prideful and close minded to ideas that are dissimilar to his in his administration.

Community Organizer is just another word for communist agitator. Obama has destroyed the economy in 3 years with his Marxists policies. You are really arguing that a man that has lived on the public teat his entire life knows how the real world works and is more capable of turning everything around? I find that hard to believe.


Ahh, you're an idiot then.

Saying Obama has lived his whole life on the public teat has no reflection of his history. The fact that people think they can get away with this lie that he was raised on welfare rather than coming from a comfortably upper middle class home, this idea that he got government benefits every step of the way (or more benefits than everyone else got) has no reflection in reality.
 
2012-10-15 03:14:38 PM  
 
2012-10-15 03:19:33 PM  

StanTheMan: . Official government policy of lowering standards and flooding the market with credit got us into this mess.


Nothing stops someone from issuing a mortgage that doesn't meet certain government standards. The standards for things like FHA loans didn't change.

Liar loans and Fannie and Freddie and the Fed = HIV.

The private secondary mortgage market exists because there are people who don't like the returns they get going through Freddie Mac. And Fannie and Freddie had nothing to do with subprime mortgages, which were the whole problem.
 
2012-10-15 03:22:36 PM  

NowhereMon: Anybody else see the Frontline that was on last week after the VEEP debate? It was basically dueling biographies of Obama and Romney.The show shared flattering and not so flattering things about both candidates, but the thing that struck me about Romney in both his business and political careers was so willing to say whatever it took to get he wanted. He literally does not have a single political principle that he has ever been willing to take a stand on.t


As opposed to Barack Obama's principled stands on gay marriage, closing Guantanamo Bay, not raising taxes during an economic downturn, no military action without congressional approval, saying high gas prices are caused by the president, and scores of other shiat I won't bore you with?

MSM's characterization: Obama 'evolves,' Romney 'flip-flops'
 
2012-10-15 03:24:47 PM  

NowhereMon: Anybody else see the Frontline that was on last week after the VEEP debate? It was basically dueling biographies of Obama and Romney.The show shared flattering and not so flattering things about both candidates, but the thing that struck me about Romney in both his business and political careers was so willing to say whatever it took to get he wanted. He literally does not have a single political principle that he has ever been willing to take a stand on.

http://www.pbs.org/wgbh/pages/frontline/choice-2012/

Good stuff and worth the time to watch it


That pretty much describes every politician. The job attracts that type of person, and most who aren't that type get sick of politics real quick.
 
2012-10-15 03:26:14 PM  

Grand_Moff_Joseph: That entire article should be preserved as Exhibit #1 in the case against unfettered western capitalism.


Unfettered capitalism hasn't existed in this county in Romney's life.
 
2012-10-15 03:28:13 PM  

NowhereMon: Anybody else see the Frontline that was on last week after the VEEP debate? It was basically dueling biographies of Obama and Romney.The show shared flattering and not so flattering things about both candidates, but the thing that struck me about Romney in both his business and political careers was so willing to say whatever it took to get he wanted. He literally does not have a single political principle that he has ever been willing to take a stand on.

http://www.pbs.org/wgbh/pages/frontline/choice-2012/


Good stuff and worth the time to watch it


I did and it was great. I mentioned the same in an earlier thread. I learned more about both candidates in that hour and a half than I had up until then. Looking at Romney's career, it's hard to reach any other conclusion.

It's available online.
 
2012-10-15 03:29:37 PM  

StanTheMan: , closing Guantanamo Bay,


There are two standing executive orders to close it, however Congress never came through on the money to make it happen. In the case of moving the prisoners to a new location on American soil a few members of Congress just about pissed themselves.
 
2012-10-15 03:38:23 PM  

ManateeGag: FlashHarry: Myth Romney

everything is lies

Mitt Romney is secretly CardassianFerengi. Whar Earf Cirtificat!? Whar?


Fixed that for you.

C'mon, puts profit before all else, willing to say anything to make money and get ahead, comes from a tradition of oppressing women and having multiple wives?

He wants to be Grand Nagus of the United States.
 
2012-10-15 03:38:32 PM  

WhyteRaven74: StanTheMan: . Official government policy of lowering standards and flooding the market with credit got us into this mess.

Nothing stops someone from issuing a mortgage that doesn't meet certain government standards. The standards for things like FHA loans didn't change.

Ha, you mean those now toughened 580 FICO standards? LOL! By the FHA's own admission, most lenders ask for higher than the FHA minimum,

Liar loans and Fannie and Freddie and the Fed = HIV.

The private secondary mortgage market exists because there are people who don't like the returns they get going through Freddie Mac. And Fannie and Freddie had nothing to do with subprime mortgages, which were the whole problem.


Bullshiat bullshiat bullshiat. How you can suggest such bullshiat is, well, bullshiat. First off, a "prime" mortgage under Fannie and Freddie was a 620 FICO score (FHA is now up to a "toughened" 580) out of 850. OK, show of hands Farkers, how many of you would loan six figures of your own money to someone with a sub-700 FICO score? How about sub-600? Go try and rent an apartment with a 620 FICO.

Well, that exactly the risk that what taxpayers were underwriting when Fannie and Freddie bought all those mortgages. Which allowed lenders to make even more loans.

"From 2009 until the present, prime borrowers have accounted for the majority of all new foreclosure starts" - Federal Reserve Bank of New York

So yeah, "prime" for Fannie and Fred was/is a shiatty 620 FICO score, and most foreclosures are prime anyway. Plus, prime loans tend to be larger, so even more destructive.
 
2012-10-15 03:40:29 PM  
FIVE TRILLION DOLLARS IN 3 YEARS. Bring on the excuses.
 
2012-10-15 03:41:17 PM  

Dr Dreidel: Jaws_Victim: I love talking about how rmoney has no real position, but remember that the president flipped on gay marriage when it became politically favorable to him.

Sure, but Obama hasn't flipped back.

Romney doesn't flip-flop, he oscillates.


as was stated in his Mass. Gov. debate... Mitt isn't pro-choice or anti-choice... he's multiple choice.
 
2012-10-15 03:44:28 PM  

Alonjar: Bendal: Romney is on record saying he believes that his 14% tax rate is perfectly reasonable, since that low rate allows "job creators" the capital they need to invest in new businesses.

Which is a joke, since true business expenses are tax exempt, and would be unaffected by tax rate increases.


Know how I know you don't know anything about business?
 
2012-10-15 03:44:35 PM  

WhyteRaven74: StanTheMan: , closing Guantanamo Bay,

There are two standing executive orders to close it, however Congress never came through on the money to make it happen. In the case of moving the prisoners to a new location on American soil a few members of Congress just about pissed themselves.


I see, so Senator Barack Obama in 2008 had no way of knowing his irresponsible, impractical promise about closing Guantanamo Bay was not supported by the United States Congress.
 
2012-10-15 03:51:48 PM  
My favorite Mitt fact: Protested FOR the draft for Vietnam (!) AND THEN GOT FOUR DEFERMENTS!

His reply "I was doing missionary work.. in france.." (Yeah, Im sure he was going door to door tellin the french they shouldnt be drinking wine..)

-chickenshiat chickenhawk
 
2012-10-15 03:55:46 PM  
He's not Obama is all that matters at this point. That man has done more damage to this nation's economy that all of its previous enemies combined.
 
2012-10-15 03:59:40 PM  

Verzio: Seriously, can't you guys find a Romney critic with even a tattered shred of credibility?


B-b-b-b-b-b-but

What? Muslim? Bin Laden? The Fed? Greenspan? Bernanke? Clinton? The Olympics? Taxes? Iran? Afghanistan? Welfare mothers? Trayvon?

Come on, man. Tell me why SOMETHING ELSE, ANYTHING should distract me from an explanation that shows in clear, unambiguous English how Mitt Romney's success comes from vulture capitalism.

Y'know, maybe you didn't read the piece, but Stockman says SEVERAL TIMES that he's not criticizing Bain's practices, which are all technically legal. He's pointing out that the scripted narrative of Mitt Romney as company-creating, job-creating, hard-working businessman who has built engines of capital creation from the ground up is a
load
of
shiat.

And if you have anything that proves otherwise, let's hear it. Otherwise, mouth == shut.
 
2012-10-15 04:00:16 PM  
God damn. How many alts do the GOP Tards have in deep freeze anyway? How long have they been stockpiling them?
I'm seeing multiple freshly thawed out derpers on a daily basis. If that doesn't spell desperation, then I don't know what does.
 
2012-10-15 04:00:26 PM  

Vtimlin: FIVE TRILLION DOLLARS IN 3 YEARS. Bring on the excuses.


Let me guess - you were the guy in Calculus 101 who kept saying "I'll never need to use first and second derivatives in real life"...
 
2012-10-15 04:00:42 PM  

Grungehamster: I guess the question then becomes if Romney is elected he will see all Americans as the people he is responsible to or if he will see his job as making sure that those who financed his run succeed even if it requires screwing over the little guy.


You mean like how the owners of Solyndra, who financed Obama's run, made out, took all that money and then left the common man taxpayer holding bag?
 
2012-10-15 04:05:37 PM  

Captain_Ballbeard: randomjsa: Ever heard of Dunkin Donuts? I'm just curious as to why Bain rebuilt and restructured that company, making it profitable again, and saving thousands and thousands of jobs, instead of raiding it and destroying it?


Yeah, because stripping a steel company and Dunkin Donuts are the same thing. I'm sure there are buyers lined up worldwide to take Dunkin Donuts equipment.

lol

u more tarded every day


You sound intelligent.
 
2012-10-15 04:09:41 PM  

Goetz: God damn. How many alts do the GOP Tards have in deep freeze anyway? How long have they been stockpiling them?
I'm seeing multiple freshly thawed out derpers on a daily basis. If that doesn't spell desperation, then I don't know what does.


Well, you know that massive pile of money Rmoney has to run on, with SuperPAC's and all? Yeah, paid shills are cheap. Hell, some are probably even True Believers who are volunteers and not being paid.
 
2012-10-15 04:10:58 PM  
I'm not any great fan of Reagan, but back in the day, a number of S&L swindlers were prosecuted, including Charles Keating, who actually did jail time. Even the "leftist" Obama has not moved against the current gang on Wall St and their bankster buddies, and this lot makes the S&L bunch look like amateur night by comparison. The Reagan type of Republican managed to retain some measure of adult self restraint. There is no doubt in my mind that the current bunch are outright sociopaths.
 
2012-10-15 04:13:46 PM  

Voiceofreason01: except Rand's philosophy conflates being very wealthy with being creative and productive


This is wrong. The biggest villains in Rand's novels were people who were wealthy but not productive, or not creative. Wealth can be amassed through graft, theft, and coercion, all of which are opposed by Objectivists.

vpb: This is true of a lot the investment and finance industry. It produces nothing but makes money by manipulating the system. It's not hard to figure out why people like Romney hate government regulation so much.


The portion of the finance industry that makes money by producing nothing is the result of regulation. Mitt Romney is a nasty, opportunistic turd. But, speculation and stripping companies happen to be valuable to a great many people in the economy. Speculation provides a great deal of information to producers and consumers about supply & demand, and stripping companies results in better allocation of those resources.

Eddie Adams from Torrance: Frankly it doesn't really matter. The idea that we need a businessman to run government like a business is farking retarded.

Most of the people that spout this nonsense have obviously never worked for a large corporation.. here's a tip, they're not exactly paragons of efficiency and creative thinking.


They're efficient enough to remain in business, and that's all that matters as far as efficiency is concerned. Government, however, cannot be run like a business. Government remains in power though violence, not by keeping its balance sheet in the black. And then there's the calculation problem - government's provision of goods and services is irrational.

Vegan Meat Popsicle: probesport: Let's give him a chance to do it for the US, nothing else has worked so far.

Well, actually, basic Keynesian principles to pull us out of republican-induced tailspins followed by more conservative deficit-reducing efforts during times of prosperity when we can afford to pay off our debt have worked fine on more than one occasion, but your bald-faced lie is probably good too.


Keynesian economics is the single biggest cause of cause of economic catastrophe in the western world. Capital is not homogenous. Creating new money doesn't create wealth, and can only stimulate malinvestment, by distorting the information contained in prices that producers rely upon. Keynesianism is old and busted.
 
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