Mitt Romney On Tape Again.

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[url="http://www.motherjones.com/politics/2012/09/1985-romney-bain-harvest-firms-profits-video"]http://www.motherjones.com/politics/2012/09/1985-romney-bain-harvest-firms-profits-video[/url][/size][/font][/color]
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[i]Campaigning for the presidency, Mitt Romney has pointed to his stint as the founder and manager of Bain Capital, a private equity firm, as proof he can rev up the US economy and create jobs at a faster clip than President Barack Obama. Last year, while stumping in Florida, Romney [url="http://www.bloomberg.com/news/2011-07-20/romney-as-job-creator-clashes-with-bain-record-of-job-cuts.html%20Romney%20in%206/2011"]declared[/url], "You'd have a president who has spent his life in business—small business, big business—and who knows something about how jobs are created and how we compete around the world." His campaign spokeswoman, Andrea Saul, has said that Romney's Bain days afford him more expertise than Obama to "focus on job creation and turn around our nation's faltering economy." Romney has even [url="http://hotair.com/archives/2012/05/16/hot-air-interview-with-mitt-romney/"]claimed[/url] that during his tenure at Bain, "we were able to help create over 100,000 jobs." In his [url="http://www.huffingtonpost.com/2012/08/30/mitt-romney-speech-text_n_1826619.html"]acceptance speech[/url] at the Republican convention, Romney smacked Obama for having "almost no experience working in a business" and tied that to the sluggish recovery.[/i][/size][/font][/color][color=#000000][font=Verdana, Tahoma, Arial, Helvetica, 'Bitstream Vera Sans', sans-serif][size=3]
[i][i]Mother Jones[/i][size=3] has obtained a video from 1985 in which Romney, describing Bain's formation, showed how he viewed the firm's mission. He explained that its goal was to identify potential and hidden value in companies, buy significant stakes in these businesses, and then "harvest them at a significant profit" within five to eight years.[/size]But at Bain, Romney's top priority wasn't to boost employment. As the Wall Street Journal recently [url="http://online.wsj.com/article/SB10001424052702303292204577519293959381060.html%20WSJ%207/11/12"]noted[/url], creating jobs "wasn't the aim of Bain or other private-equity firms, which measure success by returns produced for investors." And, the newspaper reported, Romney's 100,000-jobs claim is tough to evaluate.[/i][/size][/font][/color][color=#000000][font=Verdana, Tahoma, Arial, Helvetica, 'Bitstream Vera Sans', sans-serif][size=3]
[i]The video was included in a CD-ROM created in 1998 to mark the 25th anniversary of Bain & Company, the consulting firm that gave birth to Bain Capital. Here is the full clip, as it appeared on that CD-ROM (the editing occurred within the original): [/i][/size][/font][/color]
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[url="http://www.youtube.com/watch?v=0EsxNYXW5i8&feature=player_embedded"]http://www.youtube.com/watch?v=0EsxNYXW5i8&feature=player_embedded[/url][/size][/font][/color]


[font="Verdana, Tahoma, Arial, Helvetica, Bitstream Vera Sans, sans-serif"][size="2"][color="#000000"]Huh. It's almost like not even Romney believes that his work in private equity had anything at all with creating jobs or creating sustainable business models that would provide decent wages and conditions for its employees. [/color][/size][/font]

[dUSt]

So a business man was acting like a business man?

THE HORROR!!!

What kind of gosh forsaken country do I live in!?!?!?!

[IcePrincessKRS]

I guess I just don't see where building a profit as your primary goal, yet at the same time creating jobs (maybe not as high as some sources claim, but jobs were created nonetheless) is a bad thing...

[kujo]

The Romney campaign has to be the most incompetent bunch of idiots to ever run a major election effort. Truly inept--and I speak with some insider knowledge. Since day one, they've refused to steal the narrative, instead placing blinders on and allowing Obama to take every single cheap shot and cheap "win" without ever once articulating a clear vision and philosophy. They smell of elderberries, they're going to lose, and they should. I don't want a president who can't seem to get his perfectly-parted hair out of his rectum. If his campaign is any indication of how he'd govern, I'll just as soon say no thanks. 12 years of incompetent leadership is quite enough, thank you.

[dUSt]

You'll get you a Mitt, and you won't throw a fit.

[Mercy me]

Oh my! He had a vested interest in the success of businesses! Shocking!

Actually, I am shocked that people find it shocking. But consider the source.

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[quote name='Mercy me' timestamp='1348892994' post='2487889']
Oh my! He had a vested interest in the success of businesses! Shocking!

Actually, I am shocked that people find it shocking. But consider the source.
[/quote]


There's nothing shocking about what he said. It's just how private equity works. It's only newsworthy because it is starkly in contrast to his lie that his job in private equity was that of a 'turnaround specialist.' That's not his job. His job is to, as he put it, harvest companies. That isn't always destructive for the harvested business.

[BG45]

[quote name='dUSt' timestamp='1348844526' post='2487594']
So a business man was acting like a business man?

THE HORROR!!!

What kind of gosh forsaken country do I live in!?!?!?!
[/quote]

It's almost like you think we live in...idk...a capitalist society or something?

[4588686]

[quote name='dUSt' timestamp='1348844526' post='2487594']

What kind of gosh forsaken country do I live in!?!?!?!
[/quote]



I agree. As Marx observed, capitalism is the most revolutionary force to ever take root in human society and part of the revolutionary component can be seen in it's unprecedented ability to sweep away religion and custom.