Romney's history at Bain Capitol is relevant. It is a clear indication of how he will govern as president. It is important for us to clearly understand what this means for us and for our nation.
As we know, he bought up companies, forced them into bankruptcy and then walked away with huge profits. But how did he profiteer if the companies went bankrupt? The process is chilling.
First, he targeted companies whose assets were worth more than the companies were valued at. He secured loans to purchase those companies using their assets as collateral. These loans were large enough to purchase the companies and also to give himself and his colleagues huge bonuses as payment for the deal. Those assets included capital equipment, intellectual property and the pension fund. Especially the pension fund. The money the companies were making may have been able to cover ongoing expenses, but not able to cover the loans and ongoing expenses. Once he had acquired the companies and they started losing money because of his loans, he liquidated the assets to pay off the loans. He sold off the intellectual property, terminated R&D to save money, raided the pension funds and sold the salable equipment. When there were no more assets, he put the company into bankruptcy.
So what does this mean to us if he becomes president? More after the pretzel that looks like Romney trying to hide his intentions.
We need to really understand what Romney did at Bain capital. It is insight into what his plans are for us. What does it mean to us if he becomes president?
Think of the US as a targeted company, and of his donors as his lenders. Ask yourself what security he has promised to his superpacs and contributors. What do they get in exchange?
The equivalent to the bonuses for himself and his colleagues is the huge tax cuts for the rich he has promised. That is just the first step.
Think of the Koch brothers. What do they want? They want an end to enforcement of environmental and competition laws. The asset that will be liquidated to satisfy their debt is our forests, our water and our competitive environment, allowing them to operate as they choose and rake in more profits at the expense of our future.
Think of social security. Many of his contributors don't like making the employer's portion of the payment. Consider social security the American form of a funded pension plan. He has promised to liquidate this asset to fund tax cuts for his contributors.
Think of our children as R&D. He will stop funding the development of our youth as a way to cut costs and pay off his donors.
Think of what Addleson wants. He wants us to attack Iran. Romney will make this "investment" on behalf of America to satisfy this obligation to his big donor.
His attack on medicaid and medicare is the defunding of company provided insurance, leaving the workers uninsured and unable to secure insurance.
Finally, he will bankrupt America, leaving its workers unemployed with no hope of finding employment.
Romney's plans for America are no different from his plans for the companies he took over. The results will be no different as well. For those who say Bain doesn't matter - it is the blueprint of our country's future.