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[Deadmeat1471]

He made all his wealth in the financial industry, largely doing things that the vast majority of Americans don't understand and don't really bring any benefit to the economy while serving to make those who work in it obscenely wealthy at the expense of others.
It would be different if he made his wealth in anything besides the financial industry, and the complaints about him (from the republican side) would have much less to stand on, and probably wouldn't have been brought up at all.

But this is what nearly all of capitalism is........ 8% of american economy is manufacturing?
Seriously i'm at a loss. America is the most capitalist and free market country in the world, yet they castigate a candidate for partaking in that.
BUT THATS WHAT THE WHOLE NATION IS ABOUT! from the beginning! especially the republican party!
It's crazy.

[mainiac]

This whole nation was about taxation without representation from the beginning.  Capitalism came later and many of the founding fathers (such as Jefferson) were veeeeery leery of it.

[Deadmeat1471]

This whole nation was about taxation without representation from the beginning.  Capitalism came later and many of the founding fathers (such as Jefferson) were veeeeery leery of it.

Agreed it was a bit of a blanket statement. But come on! seriously? you create a system of capitalism and free market, you tell people if you work hard you can be rich, you guide social policies to promote economic growth above nearly all other issues.
Then you criticise a candidate for succeeding in exactly the way this system wants!!!!

and! these are only the right wing voters!!!!!! it absolutely boggles my mind.

[mainiac]

The theory was that capitalism would lead to a good allocation of resources, not a bunch of bloodsucking hedge funds.  They are angry at Romney for not being the kind of capitalist they expected.

[Aqizzar]

But this is what nearly all of capitalism is........ 8% of american economy is manufacturing?
Seriously i'm at a loss. America is the most capitalist and free market country in the world, yet they castigate a candidate for partaking in that.
BUT THATS WHAT THE WHOLE NATION IS ABOUT! from the beginning! especially the republican party!
It's crazy.

Like I was saying around the Georgia primary, yes it is pretty crazy.  In any other year, Romney's business history would make him the Republican wunderkind.  "Economic populism" has come roaring back into American politics though, even with a good portion of conservative Republican loyalists, and the general public makes a very hard distinction between different kinds of "capitalism".  Manufacturing is only 8% yes; most people think it's higher than that and should be higher still, and don't want to hear that it's not.

What Romney did was go to companies in financial straights, buy them out, alter them in some way (frequently by firing a lot of people), then selling the company back off while paying himself millions, with something like a 20% rate of them subsequently going bankrupt regardless.  That kind of "capitalism", while perfectly legitimate, doesn't sit well with your typical American voter at this time of all times.

[Nadaka]

Romney was successful at murdering corporations and feasting upon their corpses. Metaphorically speaking.

In reality, he also made some of that money from what is arguably fraud. Buying a company, taking out a loan to pay himself 350 million dollars (or close to it) and then filing for bankruptcy on the loans he took out to pay himself but suffering no liability because of legal loopholes.

[Deadmeat1471]

Romney was successful at murdering corporations and feasting upon their corpses. Metaphorically speaking.

In reality, he also made some of that money from what is arguably fraud. Buying a company, taking out a loan to pay himself 350 million dollars (or close to it) and then filing for bankruptcy on the loans he took out to pay himself but suffering no liability because of legal loopholes.

I say this with much left wing baggage attached;
Sounds like a true Capitalist to me 

[nenjin]

Buying a company, taking out a loan to pay himself 350 million dollars (or close to it) and then filing for bankruptcy on the loans he took out to pay himself but suffering no liability because of legal loopholes.

And the best part is, the collateral posted for that loan? The company he bought out. The insane part is that, in the average person's world, this is fraud. In the corporate world, it's a business plan.

Using someone else's money is a cornerstone of global business economics. So while technically it's fraud, it's actually how business has been getting done for a very long time. It's actually very rare for people to put up much of their own money to support a business. Can't get rich that way!

[Deadmeat1471]

Buying a company, taking out a loan to pay himself 350 million dollars (or close to it) and then filing for bankruptcy on the loans he took out to pay himself but suffering no liability because of legal loopholes.

And the best part is, the collateral posted for that loan? The company he bought out.

Using someone else's money is a cornerstone of global business economics. So while technically it's fraud, it's actually how business has been getting done for a very long time. It's actually very rare for people to put up much of their own money to support a business. Can't get rich that way!

From what little I understand of the business world, I am getting this impression too. I think companys and individuals can and will do whatever they can to milk money out of the system, and I think the government looks the otherway because it often leads to GDP growth, and such greed is the fundimental engine of capitalism.

[Heron TSG]

Then why don't we allow convicted felons to run for political office, or even vote?

Felons can vote, depending on the state.

I liked The Colbert Super PAC's attack ad on the topic of Bain Capital.

Oh gods, what?

[mainiac]

Buying a company, taking out a loan to pay himself 350 million dollars (or close to it) and then filing for bankruptcy on the loans he took out to pay himself but suffering no liability because of legal loopholes.

And the best part is, the collateral posted for that loan? The company he bought out.

Using someone else's money is a cornerstone of global business economics. So while technically it's fraud, it's actually how business has been getting done for a very long time. It's actually very rare for people to put up much of their own money to support a business. Can't get rich that way!

From what little I understand of the business world, I am getting this impression too. I think companys and individuals can and will do whatever they can to milk money out of the system, and I think the government looks the otherway because it often leads to GDP growth, and such greed is the fundimental engine of capitalism.

This doesn't add to GDP.  It's econ 101 that capitalism doesn't work without capital goods, operating capital, etc.  This is why it's called capital-ism not monocle-top-hat-ism.  When a big company gets taken over and shrunk to return to profitability, the result is a decrease in GDP.

[FearfulJesuit]

I just don't know what to say. I really don't.

[nenjin]

That he uttered something so stupid in my own state (possibly my own town? I wonder what local university they are talking about) doesn't surprise me.

[Sirus]

I just don't know what to say. I really don't.

What the fuck?! What...the fuck?! What..the..fu-u-*cries*

Oh god, just when I thought Santorum could not get any more out there, he does this. I don't think he actually wants the presidency after all :/

[mainiac]

I am honestly having trouble believing this, even from him.