Thursday, August 30, 2012

WHY THE MOTU LOVE CAPITALISM

For them, it's a "heads I win, tails you lose" game.  It's obvious now that not only none of the banksters will go to jail for ruining the world's economy, there will be almost no clawbacks of their ill-gotten monetary awards.

Mitt Romney comes from this culture of corruption, so it's natural for him to bloviate about defending Capitalism because his version of Capitalism is fail-safe, as I noted before about his move to Bain Capital.

Tim Dickinson has found a pre-Bain Capital version of the "heads I win, tails you lose" game favored by the MOTU:
The federal records...reveal that Romney's initial rescue attempt at Bain & Company was actually a disaster – leaving the firm so financially strapped that it had "no value as a going concern." Even worse, the federal bailout ultimately engineered by Romney screwed the FDIC – the bank insurance system backed by taxpayers – out of at least $10 million. And in an added insult, Romney rewarded top executives at Bain with hefty bonuses at the very moment that he was demanding his handout from the feds.

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