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| On behalf of all dogs, all voters, thank you, Fido |
In 2012, President Obama continued his campaign, running for reelection against Mitt Romney who was saying he should be elected because he had more business experience, and that made him more qualified to fix the economy.
A few years earlier former governor Mitt (President of Bain Capital) was a renowned, on Wall Street, business fixer. Actually his company was a stock manipulator and stock investor. As an example, they took over a company in a very promising field, medical technologies. The company's name was Baxter and after making himself president of the company, he changed the company's name to Dade International. Then after that move, with mostly stock, they acquired the company's two largest competitors. This made the new Dade International the largest company in the field of medical technologies. It was a Wall Street text book example of how to grow a company using stock manipulation. Knowledge of how to actually run the company was not necessary because their goal was to make money for Bain and their partners. And that they did, in just about four years, they made $400 million for Bain alone. Did he have to be smart? Oh yeah. But smart enough to run a country like the USA? If you mean like Cheney and Co., people who tell their followers how important it is to balance the budget and put the country on a sound economic footing, in order to get elected, and then when they get in charge, they don't do it.
What they do do is, what they did with Chaney in charge, feed the assets of the country, including a trillion dollar surplus, directly to their rich supporters. You only have to contrast the condition of the country when President Clinton and the Democrats left office with the condition of the country when the Republicans left office.
In about the same amount of time Romney was with Baxter, Obama, our new president, was able to get congress to pass a national health care bill along with some other stuff. Regardless of your opinion on ObamaCare, it ranks way up there in 'degree of difficulty' of political things to get done.. When Clinton was elected he was able to get get his financial program for the country passed (thank the lord and Clinton) without any support from the GOP, none. 100% of Republicans in congress voted against a program that produced a balanced budget and a nest egg, the trillion dollar surplus. Like Clinton, Obama, for his national health care program, also had 100% of the GOP congress members voting against him.. Yes the Democrats at that time were a majority in congress, but remember, some were very beholden to the insurance industry. It was not an easy task.
So, while Romney was making $400 million for Bain, using
tactics, and firing employees, (over 1,700), and depleting the company's assets so manipulating Dade's stock prices would be easier, Obama, after going head to head with McCain, was now dealing with obstructionists, and it was no easy job. Dick Cheney and the GOP had the country in a free fall into a bottomless pit.
And then the election was over, and the Obama administration came in. He was needing to stop the bleeding and get the economy going.. And, while making that effort, he had other things to do, you know, like putting Bin Laden in the bottom of the ocean, droning out a lot Al Qaida leaders and a whole host of other stuff. But the Republicans they were so mad we had a black man in the white house they openly said, "We will not vote for anything that will help him (the black guy) get reelected." Saying that openly for public consumption is unbelievable, but typical of their arrogance which I guess they need to continue to fool those who vote for them.
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| Hearty meal. |
But I got away from my first question which was, did the Dade International result qualify Romney to lead the country. Lets look at the facts of what happened at Dade International.
There is no question their tactics to make the $400 million took Dade International to the bankruptcy court. court. Where they got a surprise. The debt holders threatened Bain with law suits and forced Mitt and Bain etc., to give up all their considerable remaining ownership of Dade stock and more than $65 million. Then they said good bye to the Romney board members and with some added investment money started running the company the way they thought Romney was interested in doing. Running the company like a business. Not as a carcass for vultures.
And then, after about the same amount of time Romney had when he was in charge, the company was sold to Seimans for $7
billion dollars. And at sale time the company now had more than 6000 employees. One characteristic result was what Romney said during the campaign, Romney said he was responsible for what happened to Dade because if he had not taken them to bankruptcy court, they would never have been forced to take the actions, which they did take and that that resulted in the turnaround. If you didn't know what chutzpah was before, you know it now.
So, yes, Bain made over $400 million, an awful lot of money, but Romney and Bain did not make the almost $2 billion they could have made if Romney was the capable individual he was trying to sell to the voters. He was indeed the winner of the Republican primary. Fortunately we all saw the 'quality' of the potential leaders of our country, put forth by the GOP. Now its even questionable if the best (worse?) candidate in the primary, won.
(Sources: NY Times & Google. If you do Google; put in 'Bain and Dade International')
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