NYT / DU (BIRM) working hard to throw Michigan against Romney

[SSG Snuggle Bunny]

I question the timing of this story.

Swede (25,495 posts) Profile Journal Send DU Mail Ignore

 Bain Capital declined to help out auto industry during financial crisis.

No private companies would come to the industry’s aid, and the only path through bankruptcy would have been Chapter 7 liquidation, not the more orderly Chapter 11 reorganization, these people said.

In fact, the task force asked Bain Capital, the private equity company that Mr. Romney helped found, if it was interested in investing in General Motors’ European operations, according to one person with direct knowledge of the discussions.

Bain declined, this person said, speaking anonymously to discuss private negotiations.

http://www.nytimes.com/2012/02/20/us/politics/after-auto-bailout-detroit-fallout-trails-romney.html?_r=2&pagewanted=all

http://www.democraticunderground.com/1002334979

MI is Romeny's home state. For bain to NOT help save GM would mean--according to the emerging narrative--Mittens wants GM to fail and ergo hurt his homestate so homestate voters should hate Romney and vote Santorum because Santorum will be easier to beat in the general election.

That GM might not be worth saving won't even enter the picture. That bain might well be the canary in the coal mine (or the endangered falcon in the wind turbine field, if we want to be PC) won't be discussed.

Saving GM means paying-off unions cronies, cheating primary lean holders, completely stripping away the pensions of salaried workers to keep afloat the makers of the spontaneously combustible Volt which can't even sell to the 15%-ers with a $10k subsidy.

Bain isn't mean, it's smart.

Demeter (54,284 posts) Profile Journal Send DU Mail Ignore

1. Is anyone surprised by this?

Not if they live in Michigan....

This doesn't even make sense.

Apparently demented is implying Bain acts out of malice rather than profit.

I dunno.

http://www.democraticunderground.com/1002334979

[JohnnyReb]

In fact, the task force asked Bain Capital, the private equity company that Mr. Romney helped found, if it was interested in investing in General Motors’ European operations,

Gotta save those socialist You're-pee'n jobs.

[Rebel]

badtoworse (1,710 posts)
2. Would you have invested your own money in GM during the financial crisis?

Anyone who answers no is a hypocrite for pointing fingers at Bain. IMO, it would have been a very high risk investment and not something I would have been comfortable with.

Dirty Freeper troll.

[USA4ME]

There's only two main reasons corps approach the Bain Capitals of the world:

1) You view yourself as an emerging corp and are trying to convice a capital ventue company to purchase you and ride the gravy train up, or

2) you're bleeding to death and need capital imput.

GM was #2.

I'm betting Bain wasn't the only capital venture company that gave GM a thumbs down.  Typically, corps looking to do this obtain the services of a Goldman Sachs type company to help structure their bid to be purchased, and they aren't going to go to that type of expense to just shop themselves to one capital venture company.  Wouldn't be surprised if Tho. H. Lee Partners and other big private equity firms weren't also approached.

.

[AllosaursRus]

In fact, the task force asked Bain Capital, the private equity company that Mr. Romney helped found, if it was interested in investing in General Motors’ European operations,

Gotta save those socialist You're-pee'n jobs.

WTF??? Why the hell would they want to invest in a government controlled program? Everyone knows how efficient the gubmint is at runnin' things! (wink, wink)

[SSG Snuggle Bunny]

WTF??? Why the hell would they want to invest in a government controlled program? Everyone knows how efficient the gubmint is at runnin' things! (wink, wink)

What you'll see emerge between now and the MI primary is a narrative that suggests its Romney's fault GM *had* to go to the government because Romney hates his homestate or something.

As with the ginned-up contraceptive controversy, it isn't based on logic, facts or even principles. It's about pressing on people's emotions to get them away from Mittens.

The commies want Santorum for an opponent because they believe--with reasonable measure--he'll get off message and veer down Christian-social conservative issues that will play badly in the general election. Get Santorum on video railing against the evils of anal sex or some such non-presidential bullshit and he'll set himself up as an out-of-touch extremist. Sin is Santorum's shiny object and it will hurt him in his bid to hold America's highest non-ecclesiastical office.

Of course Romney is no prize as he is the guy that lost ot the guy that lost to Obama last time around.

[wasp69]

What the heck does BIRM mean?