Showing posts with label bankruptcy. Show all posts
Showing posts with label bankruptcy. Show all posts

Thursday, January 12, 2012

Did Mitt Romney launder money for "Latin American" investors?


Missing the forest for the trees (or counting cavities in the gift horse's mouth.) How many have actually seen the "When Mitt Romney Came to Town" video? http://www.webcasts.com/kingofbain/

Newt, the messenger may be extremely flawed to the extreme, but the message is "spot on." It is brilliant and to the point. Romney was a corporate raider of the worst ilk. Did you know that Bain Capital was financed by unidentified Latin American investors? I didn't. Did you know Romney's wealth is mostly parked off-shore in foreign accounts? I didn't. Those facts are off-handedly cited in the video which concentrates on the horrors inflicted by Romney and Bain Capital that impoverished men, women and children who were paying their dues to the American dream. No wonder Mitt won't release his income tax returns.

Did you appreciate that Romney and his friends drained 180 million from a company and drove it into bankruptcy when maybe looting it for only 90 million might have allowed it to survive? Maybe I should have known it, but didn't.

And how many of the personal stories of middle class workers impoverished by Bain Capital did you know? A couple maybe. But to paraphrase Stalin (ugh) about his atrocities: the loss of one job is a tragedy; the loss of a million is a statistic. The video tells the story of several US workers who had paid their dues but were nonetheless impoverished by Bain capital predatory practices.

Incidentally, one of the companies plundered by Bain is in Indiana where a right to work law is now being considered.

Bottom line: don’t get angry at Newt or weep for Mitt. Watch the video! This may be the video that saves America (if not the Republican Party) from Romney. Perhaps it should also be required watching for the Evangelical leaders meeting in Texas this weekend.

Perhaps Mormons are Christians, but Mitt Romney certainly doesn’t act like one. The Gospel of St. Matthew relates the parable of the Last Judgment where the only measure of our love of God is how we treat the least among us. Fear that judgment Mitt. Fear now.

Tuesday, January 22, 2008

Will Hillary's barrage elect McCain?

The Democratic debate in South Carolina Tuesday night (1/21/2008) turned very ugly. One of the “issues” was Obama’s use of voting “present” in the Illinois State Senate when he was dissatisfied with certain aspects of otherwise good legislation.

However, Hillary Clinton has her own explaining to do on her claimed opposition to the 2005 bankruptcy amendments. She didn’t vote present. She was recorded as “not voting.” The only one of 100 Senators not to record a “yea” or nay.” The 2005 Bankruptcy amendments were a consumer disaster. In the House, even Barney Frank voted against them. I think that I heard Hillary say she opposed the Amendments. Am I wrong? Did she duck the vote?

Is that true? She alone among all the Senators, is the one who did not vote on the bankruptcy law that catered to the credit card companies in an attempt to make credit card debt non-dischargeable. Does anyone have an explanation for this? Is her convenient absence one reason why she has such superior fund raising ability? From long experience: a lobbyist WILL tell a legislator, if you can’t be with me, go to the bathroom when the vote comes-up. It happens.

If Obama wants a real issue, and the infighting persists, I suggest he check with the folks in Fayetteville Arkansas where the Clinton regime built a toxic waste incinerator. One of the edges Bill Clinton had in 1992 was his early fundraising from Wall Street. He delivered, they paid. The key to the incinerator binge was the money the Wall Street bond lawyers and underwriters made in the sale of bonds. As I wrote for City Sierran in 1992: “If it’s bondable, it’s buildable. Whether it’s workable is irrelevant.” See http://www.johnklotz.com/burn.htm

Incidentally, the Sierra Club and its allies defeated the mass burn incinerators, which were an initiative by Governor Mario Cuomo and Mayor David Dinkins, both of whom were defeated for reelection in heavily Democratic New York. I am not a Giuliani fan, but it was Republican Governor Pataki and Republican Mayor Giuliani that put a nail in the coffin of both the mass-burn plan and a hospital waste in incinerator in the South Bronx. Was that important. See http://www.johnklotz.com/andy.htm New York City's air quality is now among the best of major cities.

If the Clintons don't get a grip, the only winner in the Democratic debate will be McCain. Hillary’s shrill performance may cut Obama down to size, but it may set up ”nice guy” John McCain for a win, as I expect the polls will be showing. Although McCain has enormous liabilities issue wise, I don’t think they will be able to tag team him the way they are tag teaming Obama. We may notice that the “straight talker” speaks with a forked tongue but it will be a tough sell.

I am for Edwards but as that possibility fades, the only Democratic ticket that will make sense is Hillary-Obama. Hillary’s courting of the Latino power structure may make the need for a dramatic gesture to the most consistent overwhelming Democratic vote - the African-American vote. It’s not that they will they vote for McCain, it’s will they vote in sufficient numbers for a candidate who is destroying their best spokesperson since MLK and Jessie Jackson’s heyday.

Nice guy John McCain may dampen their ardor to vote for Hillary. Somewhere out there, I can also hear Michael Bloomberg licking his chops.