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Mitt's really bad day
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<blockquote data-quote="TechGrrl" data-source="post: 1032802" data-attributes="member: 4932"><p>Yeah, unless a vulture capital firm takes it over by using that company's own assets to borrow against, creating a ton of dept. Then, selling those assets and taking out tons of dividends and 'management fees'. Then, looting the pension fund by using accounting tricks to claim it is 'overfunded'. Then, selling the company in an IPO and making more management fees, leaving the rotting corpse to be picked over in bankruptcy court, while the workers get kicked to the curb, and their pensions, AT BEST, get paid at pennies on the dollar by the Federal Pension Benefit Guaranty corp., which means, us the taxpayers.</p><p></p><p>Yep, that's the Bain Capital way all right.</p><p></p><p>That's not capitalism, that's cannibalism.</p></blockquote><p></p>
[QUOTE="TechGrrl, post: 1032802, member: 4932"] Yeah, unless a vulture capital firm takes it over by using that company's own assets to borrow against, creating a ton of dept. Then, selling those assets and taking out tons of dividends and 'management fees'. Then, looting the pension fund by using accounting tricks to claim it is 'overfunded'. Then, selling the company in an IPO and making more management fees, leaving the rotting corpse to be picked over in bankruptcy court, while the workers get kicked to the curb, and their pensions, AT BEST, get paid at pennies on the dollar by the Federal Pension Benefit Guaranty corp., which means, us the taxpayers. Yep, that's the Bain Capital way all right. That's not capitalism, that's cannibalism. [/QUOTE]
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