Franklin County Democrats

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Browsing Posts tagged Mitt Romney

Click here to view the official trailer for “Mitt”, the documentary that covers six years in the life of Republican Presidential candidate Willard Mitt Romney.  It actually looks good despite a lack of political substance due to it’s focus on his family.  They look like nice folks but I still have a hard time getting over his ability to overlook the damage he did to thousands of American lives that were changed by job loss thanks to his “investment” tactics.  The film airs on Netflix starting January 24th.

Andy Borowitz takes on failed candidate Mitt Romney’s appearance on the Sunday talk shows in Obama Has Lied to Americans Says Lying Expert.

President Obama has imperiled his second term by lying to the American people, one of the nation’s foremost lying experts said Sunday on NBC’s “Meet the Press.”

The accusation carried weight, observers said, coming as it did from a legendary figure in the high-stakes world of competitive lying.

He was harshly critical of Mr. Obama’s fibbing, calling it “amateurish at best,” contrasting the President’s lack of lying experience with his own half-century of dishonesty.

“The American people deserve a President who is a world-class liar,” he said. “Sadly, they do not have that President.”

Speaking from experience, he said that he had learned “the hard way” just how difficult lying can be: “Just when you think you’ve gotten away with it, there’s someone with a hidden camera catching you telling the truth.”

He said that it was possible that the President “might grow as a liar” in the remaining three years of his term, but he was not optimistic.

“Lying isn’t something you can just pick up on the job,” he said. “Maybe President Obama would be better off leaving it to us professionals.”

Jeff Zeleny interviews Dan Balz, author of Collision Course 2012 about what happened to the Romney campaign during that election cycle.

Are you surprised that the GOP never could “humanize” their nominee? How about the fact that the Obama campaign ran a superior campaign? That it is difficult for right-wing consultants to comprehend polls?  There are a couple of surprises so enjoy the video and try not to scratch your head to the point of hair loss.

For the fourth straight year a Republican has told the Lie of the Year as judged by Politifact.

It is the fourth year PolitiFact has looked back over a year’s worth of political mendacity and selected the most significant falsehood. Last year, it was the claim that Republicans voted to end Medicare. In 2010, it was the claim that the federal health care law was a government takeover of health care. In 2009, it was the claim that the same health law included “death panels.”

This year, Mitt Romney wins this coveted title by taking good news, Jeep expanding production and sales to China, and twisting it to try and generate an issue that would help his campaign in Ohio.

And they stood by the claim, even as the media and the public expressed collective outrage against something so obviously false.

People often say that politicians don’t pay a price for deception, but this time was different: A flood of negative press coverage rained down on the Romney campaign, and he failed to turn the tide in Ohio, the most important state in the presidential election.

PolitiFact has selected Romney’s claim that Barack Obama “sold Chrysler to Italians who are going to build Jeeps in China” at the cost of American jobs as the 2012 Lie of the Year.

It’ s interesting that all the analysis of the Republican losses this election cycle have ignored this pattern of lying.  So let me put this idea out there – people that can’t trust what you are saying aren’t likely to vote for you.  Just as ignoring polls that show you losing and trying to “unskew” those results won’t work, trying to create campaign issues that don’t reflect reality will not fool voters.
 

 

Looks like Mitt Romney isn’t being honest.  Or forthcoming.  One of the best investigative reporters in the country, Greg Palast, has revealed how Mitt Romney made millions while outsourcing thousands of American jobs to China.  His report, Mitt Romney’s Bailout Bonanza, published in the Nation describes in detail how it happened and the extent of Romney’s deceptions to hide his involvement.

Mitt Romney’s opposition to the auto bailout has haunted him on the campaign trail, especially in Rust Belt states like Ohio. There, in September, the Obama campaign launched television ads blasting Romney’s November 2008 New York Times op-ed, “Let Detroit Go Bankrupt.” But Romney has done a good job of concealing, until now, the fact that he and his wife, Ann, personally gained at least $15.3 million from the bailout—and a few of Romney’s most important Wall Street donors made more than $4 billion. Their gains, and the Romneys’, were astronomical—more than 3,000 percent on their investment.

What was the price to society and family supporting jobs in exhange for Romney’s millions?

Romney has slammed the bailout as a payoff to the auto workers union. But that certainly wasn’t true for the bailout of Delphi. Once the hedge funders, including Singer—a deep-pocketed right-wing donor and activist who serves as chair of the conservative, anti-union Manhattan Institute—took control of the firm, they rid Delphi of every single one of its 25,200 unionized workers.

How many millions and will we ever know?

That leaves one final question: Exactly how much did the Romneys make off the auto bailout? Queries to the campaign and the Romneys’ trustee have gone unanswered. And Romney has yet to disclose the crucial year of his tax returns, 2009. But whatever the tally, it was one sweet deal. The Romneys were invested with Elliott Management by the end of 2010, before Delphi was publicly traded. So, in effect, they got Delphi stock at Singer’s initial dirt-cheap price. When Delphi’s owners took the company public in November 2011, the Romneys were in—and they hit the jackpot.

In their 2011 and 2012 Federal Financial Disclosure filing, Ann Romney’s trust lists “more than $1 million” invested with Elliott. This is the description for all of her big investments—the minimal disclosure required by law. (Had Romney kept the holding in his own name, he would have had to reveal if his investment with Singer had made more than $50 million.)

It is reasonable to assume that Singer treated the Romneys the same as his other investors, with a third of their portfolio invested in Delphi by the time of the 2011 initial public offering. This means that with an investment of at least $1 million, their smallest possible gain when Delphi went public would have been $10.2 million, plus another $10.2 million for each million handed to Singer—all gains made possible by the auto bailout.

But that’s just the beginning. Since the November 2011 IPO, Delphi’s stock has roared upward, boosting the Romneys’ Delphi windfall from $10.2 million to $15.3 million for each million they invested with Singer.

But what if the Romneys invested a bit more with Singer: let’s say a mere 3 percent of their reported net worth, or ?$7.5 million? (After all, ABC News reported—and Romney didn’t deny—that he invested “a huge chunk of his vast wealth” with Singer.) Then their take from the auto bailout so far would reach a stunning $115 million.

The Romneys’ exact gain, however, remains nearly ?invisible—and untaxed—because Singer cashed out only a fragment of the windfall in 2011. And the Singer-led hedge funds have been able to keep almost all of Delphi’s profits untaxed ?by moving Delphi’s incorporation from Troy, Michigan, to the Isle of Jersey, a tax haven off the coast of France.

What a coincidence.  The millions in wealth, the low tax rate paid by the Romney’s, the outsourcing of American jobs, the foreign bank accounts, all tied together by and brought to life by the still undisclosed and secret tax returns.  No wonder Ann Romney said ” We’ve given you people all you need to know.”

I disagree.  The American people deserve to know the truth and nothing but the whole truth about a man that wants to be President.  Thanks to Greg Palast and a few minutes reading we know a lot more.

 

 

Ouch, this article literally destroys Mitt Romney’s claims to be a “job creator.”  David Stockman, Budget Director for Ronald Reagan dissects Romney’s career at Bain deal-by-deal and shows how they made money for Romney while hurting investors, workers, and other small  businesses.

In Mitt Romney, The Great Deformer, Mr. Stockman lays out in detail the policies that led to the rise of vulture capitalists like Mitt Romney and the consequences for the nation.  He also lays waste to the Romney claim that this experience qualifies him to be President of the United States.

The lesson is that LBOs are just another legal (and risky) way for speculators to make money, but they are dangerous because when they fail, they leave needless economic disruption and job losses in their wake. That’s why LBOs would be rare in an honest free market—it’s only cheap debt, interest deductions, and ludicrously low capital-gains taxes that artifically fuel them.

The larger point is that Romney’s personal experience in the nation’s financial casinos is no mark against his character or competence. I’ve made money and lost it and know what it is like to be judged. But that experience doesn’t translate into answers on the great public issues before the nation, either. The Romney campaign’s feckless narrative that private equity generates real economic efficiency and societal wealth is dead wrong.

One point that is not explicitly made but is a real consequence of Romney’s actions is the devastation visited upon the small businesses that service the firms Mitt Romney loads with debt, extracts the value to his benefit, and then leaves in the dustbin of history.  When Bain takes these firms through bankruptcy these small business vendors are often screwed out of money owed by these now defunct firms.  At  best, this is a serious blow to their accounts receivable at worst they may in turn be forced out of business due to this loss of payments for honestly provided serviccs.  Mitt Romney seems to have little concern for these small businesses or any and all workers involved.

This article is a little “wonky” as Paul Ryan would say when trying not to discuss his budget but Stockman has no such problem as this expert analysis will leave you shaking your head.

Enjoy this great clip from the Big Fat Whale

 

You have to share this video with your consevative uncle.  President Obama diagnoses the Republican candidate with “Romnesia.”   What makes this special is the film clips of Mitt contradicting, forgetting, Etch-A-Sketching, or lying about his previous positions.  This is a good one.

Republican Presidential Nominee Mitt Romney recently spoke to members of the National Federation of Independent Business(NFIB), a right-wing lobbying group, and asked them to communicate with their employees the right way to vote and the possible consequences for not doing so.

Personally, I find this concept offensive but also am skeptical of how effective this would be.  Do workers really think their interests are the same as the owner?  Many times this is the same person that just changed to a new healthcare plan that costs workers more while delivering less.  Oh yeah, that was after the boss parked his new boat in the lot so he could leave early to get to the lake.

AFL-CIO President Richard Trumka presents a more conceptual argument against this practice of employers advising their workers how to vote in this article from In These Times, you can also hear the actual call from Romney at the link.

Obama explains the symptoms of Romnesia …

Of course, Romnesia is the lay term for this affliction. The Latin term is lyingyourassoff.

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