Why not look to people who make their living in the finance sector for information on Private Equity ?
I also cited Charles H. Smith; Bain wasn't "capitalism". It was wealth extraction - "harvesting" as Romney called it.
What does PE do ?
PE is not interested in the economic health of the US business sector; that's why its called "vulture capitalism". And it's profits are realized not only by siphoning the wealth of companies, but by exploiting tax loopholes (including loopholes created for use by non-profits). It relies on low capital gains taxes and other select loopholes for up to half of its earnings. What is Romney's position on capital gains taxes, again ?
Pretty much.
In light of what Bain did, even as it concerns anyone trying to say "Clinto criticized Obama on his comments on Bain!!", it doesn't change the fact that success/prosperity in a company came at a negative expense to others. The reality of vulture capitalism..or, as another noted, casino capitalism where you take the resources of another/throw them on bets---taking/claiming the wins for yourself and giving the losses back to the people you took from.
Anyone who supports that/runs from dealing with it deserves to have a bad economy---and even with what Clinton noted
on Bain, it's noteworthy that it didn't keep him from investing in President Obama and endorsing his economic policies above Bain and Romney...all of that happening AFTER he noted what he did on Bain.
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One by one, Bill Clinton stripped away every charge Mitt Romney
Mitt Romney and Paul Ryan
Paul Ryan have made against President Obama...with the power of his speech being in its simplicity. Clinton minced no words debunking Romney's economic plan when saying "The numbers just don't add up," and later explaining how he created a budget surplus as president with a single word: "arithmetic." Be it with Conservatives or Liberals, Clinton is not the first to call out Mitt Romney for offering a budget plan that gives such massive tax cuts for the wealthy. It not only destroys 4.2 million jobs and explodes the deficit, it crushes the middle class, the poor, and every sector of America's consumer-driven economy....and Clinton was spot on when saying "I can describe
Mitt Romneys tax policy promises in two words: mathematically impossible...They want to the same old policies that got us in trouble in the first place.."
As Clinton noted, "They want to cut taxes for high-income Americans, even more than President Bush did. They want to get rid of those pesky financial regulations designed to prevent another crash and prohibit future bailouts. They want to actually increase defense spending over a decade $2 trillion more than the Pentagon has requested without saying what theyll spend it on. And they want to make enormous cuts in the rest of the budget, especially programs that help the middle class and poor children. As another president once said, there they go again."
If people want to use what Clinton said on Bain earlier as proof that Bain is all good, then they're inconsistent with the rest of what has been noted---and avoiding that is sadly another falsehood amongst many others promoted.
