Mitt Romney -- The Banksters' Candidate for 2012

"If I decide to run for President, it won't take me two years to wake up to the job crisis threatening America. And I won't be asking Tim Geithner how the economy works-or Larry Summers how to start a business." Mitt Romney

In 1994, Romney's career as a vulture crony capitalist boomeranged against him in his Senate race against Ted Kennedy. The tale of SCM, a northern Indiana-based stationery company purchased by Ampad, a firm owned by Romney and a group of investors, came to dominate the campaign. As the New York Times recounted, in that instance in the vulture capitalist label was well-earned in the subsequent crackdown on the workers there:


Management has shed 41 of 265 blue-collar jobs, cut wages, tripled some workers' health insurance payments, abolished most of their seniority rights and junked the prior management's union contract, which had two years to run.

While his campaign boasted of creating 57,600 jobs during Romney's tenure from 2003 to 2007, Northeastern University economist Andrew Sum pointed out that Massachusetts' performance lagged well behind the national average. As Reuters reported:


"The state lagged the U.S. average during that period in job creation, economic growth and wage increases."


As a strict labor market economist looking at the record, Massachusetts did very poorly during the Romney years, he [Sum] said. "On every measure you've got, the state was a substantial under-performer."

As John Kosman detailed, Romney didn't merely produce a "spotty jobs record" when he ran Bain Capital. During a time when he retained a controlling stake, his company reaped huge paydays on investments in firms that later went belly up.

For example, the leveraged buyout of medical testing company Dade Behring by Bain and Goldman Sachs in 1994 was followed eight years later by Dade's failure in 2002. But not until Bain Capital had extracted a rich reward:


Bain reduced Dade's research and development spending to 6 to 7 percent of sales, while its peers allocated between 10 and 15 percent. Dade in June 1999 used the savings as part of the basis to borrow $421 million. Dade then turned around and used $365 million from the loan to buy shares from its owners, giving them a 4.3 times return on their investment.


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[79barkingspider]

What's a "bankster"? Is that a bank that works for the mob?

[delascasas2009]

@79barkingspider Bankster: Refers in a vague way to the forces of "Wall Street", or to those persons in the financial services industry who grow rich despite the continued impoverishment of those who depend on their services, and despite their apparent inability to succeed in business without constant government assistance.

Example:

"The Fed is an organized cartel of banksters, who are creating inflation, ripping off the public, destroying the savings of the average American."

[landlogger]

@anphernie "I am convinced that there are more threats to American liberty within the 10 mile radius of my office on Capitol Hill than there are on the rest of the globe." -- Ron Paul

[anphernie]

Don't forget this one:

"If the American people ever find out what we have done, they will chase us down the streets and lynch us."

--George H. W. Bush, 1992

[aliciabanks]

hobama = gwb 2.0

romney = hobama 2.0

same elitist banksters

same selections

shame!!!!!!!

[runningchance]

Mitt Romney will represent the Banking Industries and Wall Street Investment Corporations proudly. Mitt understands the importance of the Federal Reserve and how it is our most beloved American Institution. I am sick of the crybaby working class that are jealous of Mitt. Those losers need to learn that Mitt is the Man. Mitt also knows we must invade Iran his first week in office to continue our spread of capitalism across the globe. Great profit can be made in Iran and we deserve all of it. Amen

[4teepee]

The corporation is not a model of liberty. It is a fascist model, a top-down model of authority.

[JejuLee]

While it is hard to imagine Wall Street being even more corrupt than it already is, with one of the original banksters as President the rule of law will be even more utterly undermined; that will leave only one avenue for justice: violent revolution. Romney as President = Civil War (waged against anyone who SEEMS rich--to someone...think about that: everything is relative).

[sh4p3shifter]

@79barkingspider banker+gangster=bankster.

[drac060]

At 4:28 of this video they start talking about a progressive income tax. The 2nd Plank of The Communist Manifesto: A heavy progressive or graduated income tax.

Americans know this as misapplication of the 16th Amendment of the U.S. Constitution, 1913, The Social Security Act of 1936.; Joint House Resolution 192 of 1933; and various State "income" taxes. We call it "paying your fair share". Ron Paul 2012 and fix this mess.

[seabazzz]

great vid. anyway get your act together america. even we in europe need you. i am in the blessed situation of being german and reaping all the benefits of the crisis, because we did many things right. but if you are not short-sighted,than you know this wont last long.

Come on retards. The world needs you, because we germans dont have enough credit to tell the truth. I can already see all the hitler-signs. So please, get your act together.