A caller to the Rush Limbaugh Show made a great point. Mitt Romney is being criticized by Obama because at times while he was running Bain Capital it was necessary to close down operations and lay people off in order to try and save the business. Weak or unprofitable divisions were closed or sold off. That's what private equity investors do to try and save struggling companies.
But the people expressing outrage about Bain were awfully silent when Obama took over GM, handed it to the unions and destroying the bondholders equity, while at the same time closing numerous dealerships around the country. How was it that closing GM dealerships was right and good but the same action by a private equity company is evil?
The Bain attacks are going to fail rather badly, and within a short time that line of attack will completely burn out and have no effect on the electorate...except to make people even more suspicious of Obama.
Wednesday, May 23, 2012
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Another aspect to the dealerships being shut down was that they were targeted or spared in accordance with their political donations.
Did Bain go into the parking lot at a company and get rid of those with Gore-Leiberman bumperstickers?
If not, then they're BETTER than Obama.
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