Quote:
Originally Posted by Robbie
Dude...everybody borrows money to buy out other companies. You use your own capital to secure the loan.
|
You do not seem to understand how leveraged buyouts work. Romney didn't use his own money to buy out KB or any other company. He used tiny amounts of capital to secure big loans so he could access the company's credit to get even bigger loans to pay him off. His goal wasn't to grow the company he bought... he didn't care if it made money or went under... His fees were guaranteed by the bustout scheme.
http://www.rollingstone.com/politics...pital-20120829
Quote:
Originally Posted by Robbie
And kids don't BUY toys anymore. They buy video games. KB wasn't set up for anything remotely close to that. They were going bankrupt.
|
That makes not buying KB a great idea... if it is such a bad investment. It doesn't make buying it with borrowed money and using its good credit to siphon off a fortune while accelerating its demise and leaving everyone else holding the bag a good idea.
Quote:
|
Why the fuck are we talking about that?
|
Because it is what he does for a living. People say Obama is too professorial because he spent so much time in academia. What does that tell you about the kind of President a bustout salesman would be? What candidates did in their life matters.
Quote:
|
And by the way...the President has NO access to the Fed. That's one of the problems of The Federal Reserve. They are unelected and answer to nobody.
|
Honestly, are you that naive? It seems to me Bush accessed the Fed just fine. He launched an unfunded war at a country that never attacked us and paid contractors a trillion dollars with money printed by the Fed. Obama seems to be accessing the Fed at will too... TARP and GM bailouts... where did that money come from? I'll give you a hint, it starts with "FED" and ends with "."
Quote:
|
If you think Romney is somehow inept and unable to create a business friendly environment that could help the economy and create jobs (I could do it in one day just by opening the Keystone Pipeline and approving some new nuclear energy plants)...then by all means vote for Pres. Obama.
|
Inept... hell no. I think Romney is VERY shrewd. I am sure he could create a business friendly environment... that serves his own interests... at the expense of the American people.
Quote:
|
I'm not trying to get you to vote Romney. I'm just trying to say: "why are the American people being deliberately distracted away from the real issues facing us"
|
Because that is EXACTLY what both candidates want. If Romney announced which loopholes he wants to close, we could discuss that. If Romney explained what steps he plans to take to fix the economy we could evaluate them. So far he has done none of that (during more than 3 years of campaigning). He has a super secret plan... one we do not need to know until after he gets elected apparently. Because he wants what is best for us but only AFTER we elect him. If we don't elect him, he will keep his magic economic fixes to himself and let us flounder. That is the implication of his campaign rhetoric.
