Coming: "Romney Got a Bailout" Foofraw

From the Obama Partners at Rolling Stone, Sept 13 issue,

The Federal Bailout That Saved Mitt Romney

Except it wasn't really a bailout. 
FDIC accepted a deal for 5 million and forgave 10 million owed to a bank it had taken over. 

Whether the Bain Capital partners 'looted' the Bain & Co. consulting house depends on your point of view. A consulting house doesn't invest.

What's stated then ignored is Bain Capital wrote off  75 million owed them.
It will be interesting to see how this shakes out.

UPDATE:
- On writing this I've not looked at any rebuttal.  Just the RS article.  {But I was jogged into it by a progressive on another site, wondering how I would explain it.}

Indeed Rolling Stone DID include all the pertinent facts, As far as I've read so far...kudos to them for that.
It's just their interpretation that's a little odd... to anyone who has the least idea of how corporate systems work.  I barely know, but the holes in the bailout argument were apparent to me.  While I DO understand how 'Progressives' would see it.... HOWEVER..
Key Point: A 'bailout' implies that tax money was somehow involved. Ummmm... nope.
I suggest anyone who doesnt understand how it's not especially shady or illegal read the article over several times until they at least understand the viewpoint.  It's all there.
Key points:
1. Bain and Company is a consulting house. 
2. Bain Capital is an Investment house.
- How much operating capital - Reserves- are required for each. The idea that the partners, being the same in both, somehow 'raided' the consulting house is ludicrous.

RS explains how Bain and Company came on hard times. As a separate corporate entity it would have been ethically wrong, if not outright illegal, for the Bain Capital partners to just inject cash to keep it afloat.
RS implies that it would have been better for the consulting house to go into bankruptcy. Better for whom?  FDIC as the operator of the seized bank would still have taken the hit, If not a bigger one.
RS correctly points out that Bain and Company... whose business it is to advise  clients on avoiding bankuptcy and hostile takeover... would have been effectively killed by declaring.
And FDIC was simply doing what it does in these cases, I see no evidence of 'cronyism' or special favors.

Leading us to the poison pill: Using the 30 million reserves still held for unearned bonuses.  That is standard operating procedure and meant to be used AGAINST takeover and milking assets, then selling off the remainders.
Exactly what Bain and Company counseled their clients to do, one would assume.

Update - Third Thought: What Rolling Stone wrote around, and didnt focus on, was why Bain and Company had all those loans outstanding in the first place. 
Why would any bank extend such credit lines to a floundering company? 
Perhaps THAT is the devil in the details. Just sayin'...

.. but I'll defend your right to say it!

... cuz the more you talk the dumber you look.  And it's great entertainment.
Probably not to the death, though.

Chrissie doesn't like being being heckled

That 'tingle' is now a running sore spot.

Chrissie Still Worries about a rising tide, calls 'soooo-ey!'
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Jason Biggs, American Idiot

sends out sick tweets about Paul and Janna Ryan

Then doubles down to include Christians and the Romneys

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Ignorance, thy name is Joe Robinson
- Read down the comments!
BeBe Winans hatefest

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Occupy RNC ends in tears, frustration.

“I love that we have an anarchist forum here, and I really love us, but I hate that our forum can’t even talk with their conservative forum,” he said. “The police just silence us, the Republicans just silence us. We are just getting silenced everywhere we go. It’s like no one wants to even hear what we have to say.”

- Insta-tip: "It’s easier to have an “open discussion” with people when you’re not dressed as a giant floppy vagina. "

And what's there to talk about?  You're a freaking anarchist.

Why I -and most Tea Partiers- Accept Mitt

Actually I wanted Mitt in 08.  Like most conservatives, I cannot trust John McCain.  And Mitt is, first and foremost, an excellent businessman/ CEO.  And that is certainly what we need.
Conservative griping about 'Romneycare' brushes over the facts.
MA was going to pass some healthcare legislation. Romney was Governor in a  capital where 80% of the elected were Democrat.  He had the choice of vetoing and being over-ridden, or guiding the inevitable program.

But people dont instantly 'Like' Mitt.

Learning to Like Mitt

Andrew Ferguson, reluctant Romneyite

 I never liked Mitt Romney. My distaste for him isn’t merely personal or political but also petty and superficial. There’s the breathless, Eddie Attaboy delivery, that half-smile of pitying condescension in debates or interviews when someone disagrees with him, the Ken doll mannerisms, his wanton use of the word “gosh”—the whole Romney package has been nails on a blackboard to me.

Well, there it is.   Not only that.. what you see is what you get.. he is almost too good to be true.

The Romneys present a picture of an American family that popular culture has been trying to undo since—well, since An American Family, the 1973 PBS documentary that exposed the typical household as a cauldron of resentment and infidelity. 

And now, here, 40 years later, it’s as though it all never happened: a happy American family, led by a baby boomer with no sense of irony! Romney is the sophisticate’s nightmare.

..that last is worth a few million votes right there.

And then, there's his personal and private sense of charity..

Obama usees 'Brothers Keeper' in a speech to raise taxes but wont give a dime to his own brother. But Mitt will help out a total stranger with thousands.

Well there must be a flaw somewhere.. oh, yeah!

He put his dog on the car roof.

But if ..
The Campaign Is A Battle For America’s Heartland.

Then it's about people who like all the above values, once they see they are real.
And know that dogs love their muzzles to be in the wind.

 

I Helped Build That.. government just watched

NYT - The Secret Weapon: All of Us

In which a liberal digs the hole deeper... some people just NEVER get it!
Kristof have any idea how risky and hard it is to start a business? I do. I was in one at startup. I helped it succeed but if it didnt I could just walk away and look for another job.  And the owners had to see I got paid when they didnt.

I didn't even try to start my own business when I had the chance. I didnt have the guts because I saw how tough it was.
Roads highway yadadda-yadda! Gimme a break!  That's sixth grade argument.. 'Socialist? You dont dont like police fire teachers' logic.

SBA.. YES! So what. And not every small business success happens because of SBA.

Government Contracts.. WHAT?!!!! Think about that, again. I suppose bought from private vs government manufacturer/vendor?
Did that guarantee success? Who paid those taxes in the first place? How... From their inherited legacy?

The entire Obama text is available. Its tone stands. "All things good come from Government "

http://www.youtube.com/watch?v=192oEC5TX_Q

Yes, our taxes developed the Internet. For use by other government agencies.  

Private and corporate initiative expanded it out to you and me.

Why we despise Urban Intellectuals

The class warfare schism is no more evident anywhere than in Australia.

It runs the gamut from Illegal Immigration Boat People to Carbon Taxes to things as silly as as a moving van impeding a Bikeway fashioned from what previously was curb and sidewalk.

Tim Blair is one of the most interesting and humorous aussie scribes finding fun poking holes in these city leeches' hubris. Elizabeth Farrely is one of his favorite targets..  A holder of a PhD in Architecture which certifies her to critique all things mundane that despoil the cityscape, as it were..
Immediately on writing a thinly disguised treatise, for the Sydney Morning Herald, on banning motorized vehicles altogether, now the academic gentry  are biking through urbania... 

Bike haters parked in the Jurassic

...she spares no acerbic semantics in flogging a working stiff just trying to do his job.  Because to make his delivery he has to park somewhere, that being the bike lane.. and .. 
Horrors! She has to get off and walk her bike around his truck.
But it gives her fodder for her blog.

Not one but three

- you really must read it all. It's entertaining and informative.

After marveling at the coolness of the van driver.. who might just as well have told her how to fold and park her bike where the sun wont hit it...Immediately I conjure the location of her stylish walkup {wouldnt be on street level, of course}.. situated in a very upscale gentrified part of old Sydney. Right on the Bike Path, naturally.
 And picture how the removal vans got to her place.. or the deliveries of whatever stylish new accoutrements are made.
Might they not ALSO have to block the bikepaths?  Or is rear alley access a primary concern when selecting new nests for harpies?

***

Unasked and unanswered, as of yet, is:  Come the apocalyptic time and it IS coming, when everything breaks down, what does this woman have to offer in the way of reestablishing civilization?

Bless his heart: 'Can we just let the South secede?'

Remember back when the Hollywood libs threatened to leave the country after Dubya was elected.. and some great minds said the NE, NW and SoCal should secede?

How MANY of us wished they would.. or could!

Well here's a guy that goes em better.  He says the South  and those who thought like southerners ought  to be pushed out so the country would be better off.
That's be okay with me.. if all of Ohio from 50 miles south of Lake Erie is included. Or just Columbus and south.

Let's go back to just the deep blues seceding, okay?  They can have NY,  NJ, Boston, Philly, Cleveland, Detroit, Chicago, St Louis, the Twin Cities of Minnesota, Western WA and ORE, The SF Bay Area, LA County. All of Maine, All of Vermont.

Yes, that's ALL the main financial, Business, intellectual and Cultural centers of the US.

Oh MY!  The rest of us would be left destitute and barren.  Except maybe we could get infrastructure jobs for a while building a big wall to keep us out of those Centers of Enlightenment.
Okay.. as long as we get to keep them in. 

Only one little problem. Who we kidding.. within 10 years, the 'New US' would invade to get their fled money back.

Here's the book in question:
"Better Off Without 'Em: A Northern Manifesto for Southern Secession"

WSJ: Review

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Because there always has to be something about Race..

Does Paul Ryan's Black Ex-Girlfriend Matter? 

Ten plus paragraphs

summary:
Ryan is probably not a racist and Lou Dobbs isnt either, despite his 'anti-immigration' rants.. but if they don't agree with me and Obama, it's all the same. After all Strom Thurmond certainly loved and supported his black daughter and we all KNOW he was a racist.. because REPUBLICAN.

 

Funny.. with Face Palm

Women in Vagina Costumes demand Respect!

If you ever thought Westboro Baptist and Occupy Wall Street couldnt be outdone in invoking Alice in Wonderland logic, you discounted Code Pink..

As a female FB friend said:  "I'm not sure what to think about that"
- exactly!
Even Betty Friedan might wonder.

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Seriously.. you couldn't make this stuff up!  Wait.. I guess you could because it is being made up.

Cutter: People Mag ‘equally important’ as WH press corps

Monday Morning in WH Press room:

 What are the President and First Lady's views on whether or not Jennifer Aniston will ever re-marry?

You'll remember Stephanie Cutter from last week's foof where she forgot she was was the one who discovered the steelworker whose wife Romney killed.

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Yet MORE lunacy;  this time on the GOP side:

GOP Senate Nominee: Victims Of ‘Legitimate Rape’ Do Not Get Pregnant

Idiot! And you're running for the Senate. YOUR correct answer is:  "I'm against abortion in all cases but that should be an issue for states to decide."

And let it go at that.  Why?  Because of Federal mandating for provision under health care funding .. we just covered that in the Supreme Court. 

- not to mention that really dodgy position on a woman's body preventing contraception.

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If that isn't 'alternate universe' enough for ya.. how about:

Poo Power from your dog

or..  

A urine based ‘potion’ can act as a CO2 absorbent

 Now.. the former is ridiculous.  Burning waste and trash for power has been tried countless times and it's money loser EVERY TIME.

The second might work.. if ALL the objectionable aspects can be overcome, however there are many sewage treatment issues actually caused by household water usage reduction, and I'm pretty sure the inventor hasnt addressed those.

WWJD: The 50/100 % Tax on the Rich

Jesus believed in a tax rate of at least 50 percent. So how does Paul Ryan's budget proposal stand up?

Oh, yes.. now I remember from Sunday School how Jesus organized a Crowd to Lobby Pilate so Rome would increase taxes.  Just need to find it in scripture...
But, here's what contextual search, in my own head, turns up:

"Thou shalt not take the name of thy Lord in vain"

Since Jesus is the son of God, seems to me if you put the wrong meaning in Jesus words you are blaspheming. Of course I'm not God.. and I'm not able to judge Christakos' heart so I guess it's just 'good intentions'.
Along with these other oddities, distilled from the last five commandments:

Do not envy your neighbor for that which he has and you do not.
Do not take that which is not yours to take.  Don't even THINK about it!

In fact, I don't recall Jesus ever organizing a crowd.  As I recall, when he 'spoke to the multitudes', he was addressing each individual in those crowds. He never organized a community, or addressed the iniquities of Rome. He said: Render unto Caesar that which is Caesar's.."   That's pretty much it.

His only 'political action' was to upset the moneychanger tables inside the House of the Lord.

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Romney pays only 13%!!!!
Hmmm... ever wonder why you dont see the American Bar Association and H&R Block {check Joel Hyatt's political contribution history} lobbying for a flat fair tax or reducing the number of deductions?
{sarc}
'Me too!'
{/sarc}

Mitt Goes 'All-In' with Ryan

First, a prediction:
Expect many Democrat wonks to start pushing for the Obama Campaign to replace Joe Biden. He's a joke, even within the party, and in head to head debate on ANY ISSUE the Democrats pick.. Ryan will grind him up and spit him out.
As another blogger sees it:

 

- Rightreactions

I'm serious.. you read it here first.

That said.. to get support of the various grass roots Tea Party activists and voters, Romney couldn't have made a better choice. Both Pawlenty and Portman are policy liteweights compared to Ryan.

But unlike the 2008 ticket, where Palin would have been nothing but a cheerleader like Biden is now, this one promises a working partnership.  A good executive doesn't need to know all the facts about everything.. or anything, for that matter.
A good executive only needs to have the vision and execute the vision, leaving the details to his operational staff.
For President Obama that has meant his key cabinet appointments.  And if you need to know where the President really stands, you vet those people.
- Sadly, most people HAVENT read their bio's or noted their politcal positions, prior to joining the executive branch.

What Romney is going to promote is a working team.. in the full sense of the word.  Much like the left claimed Cheney was, Ryan is going to actually be the candidate for 'Chief Operating Officer' of the US.  Those familiar with corporate hierarchies know THAT is the guy who gets things done; as opposed to the Chief Executive Officer who proposes (to the Board or Country in this case) and executes.

It's a dream team in every sense of the word for those who want to save this country's economy.
But it's going to make it harder for Romney to get elected.

Because there is no way to skirt the terrible economic straits we are now in.  And fixing the problems, mainly health care and the deficit, wont be easy... the pain is going to be very much akin to pulling an infected wisdom tooth.

I propose this election is not going to be just about issues and how to resolve them, it's going to test whether or not average voters are as ignorant and fearful as the Democrats think we are.

That's why I say 'Mitt went all in'.  He just made it harder for himself to win the November vote.  
Because if Romney tells the truth he will admit it's going to hurt everyone for a while, and may possibly not work.  Hopefully he will be able to make the case that disaster is certain on this track.
When folks see Ryan point out just how bad things are and the unsustainable direction we are heading at this time.. lots of people will prefer to put disaster off as long as possible.

UPDATE:  An article in Reason.com points out that even Ryan's budget plans don't really address much of the deficit. Maybe.. but we have to start someplace.

Ryan Plans: Radical or Weak Beer?