Hey everyone, I'm Curtis Abbey. Thanks so much to Deaniac for inviting me to post here. I wrote for years on the Progressive Electorate (now inactive) and on the Daily Kos as CornSyrupAwareness. I've got a degree in economics and do local work electing Democrats as well as national fundraising for Congressional candidates. I often write about the idiocy that is supply side economics, which is built on the belief that the economy does best when companies are allowed to do whatever they want. This cartoon is original, I came up with the concept and a good friend of mine did the artwork. It's based off of Mitt Romney's comments that anyone who questions his work for Bain Capital is just jealous.
“President Obama wants to put free enterprise on trial,” Romney said in his prepared speech, which he delivered on a stage filled with family and supporters. “In the last few days, we have seen some desperate Republicans join forces with him. This is such a mistake for our party and for our nation. This country already has a leader who divides us with the bitter politics of envy. We must offer an alternative vision.”A vision where near billionaires should be applauded for raping and pillaging companies!? Bain's favorite trick was having the newly acquired company borrow epic sums of money and then pay out bonuses to the Bain execs. This leaves the victim company to sell off assets, slash pensions and/or just fold up shop, while Bain walks away free and eager to repeat the process.
Another study that looked at the eight-year period following 77 deals during the same time found that in 17 cases the company went bankrupt or out of business, and in 6 cases Bain Capital lost all its investment. But 10 deals were very successful and represented 70 percent of the total profits. wikiIt's not jealousy I feel, it's disgust. And pity for those whose lives were destroyed.
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