Duck Soup

The great election of 2012 is upon us, finally. Mitoosense has followed this election closer than any other. We chronicled the GOP primary and nearly every televised debate. When the candidates names began to surface a year ago we looked at each candidate carefully. Late bloomers Gov. Rick Perry and Herman Cain made their appearances just before the Iowa vote. There seemed to be a desperate GOP search for anyone but, Willard Romney.  The search appeared to seek out the candidate who would claim to cut taxes on corporations the most and slash regulations to ribbons. This theme trumped the obscene unemployment rate and ignored criminal invaders free ranging on American Jobs, Schools and Health Care.

Similar to Obamacare we're told this plan will fix the economy. We will then return to the wealth of the Clinton Administration, before the Bankster's stole our money through Bush Wars and Bush TARP. The field narrowed in August to billionaire Willard Romney, the media ignored Ron Paul and out of towner, Hurricane Isaac. The Big Show in Tampa was interrupted by Hurricane Isaac, the unwanted guest crashing the GOP Convention. The entire spectacle reminded me of a long drawn out episode of Gilligan's Island.

The coronation of Obama followed a week later in North Carolina. The Democratic Convention seemed to be better organized than the GOP Convention. This was a total surprise to me, Democrats could organize anything above a 2 car funeral.

After eight years of a mindless Bush Administration, followed by 4 years of disappointing Obama Administration I was convinced that We The People could and deserved better. I believe the system has failed us again. We have not produced the best candidate for We The People.                                                               

Hopefully, the big questions would surface when the rubber meets the road, between Willard and Barack. Then we would get a clear picture of each candidates positions. We did not. We got instead a slanderous attack on Sesame Street and it's henchmen Big Bird.

Barack Obama joined the fray with Big Bird and Willard. I was kinda hoping that Willard would show all his cards. Releasing his taxes and reveal his details on exactly how cutting taxes on the rich and deregulation would bring prosperity back to America. Willard joined his opponent Obama and  did neither.

Each time the GOP candidate Romney would seem to make gains in the polls Willard would do or say something that would reveal his Bane Capital Greed Streak. There was also a lot of support from other GOP Candidates, such as swimming nude in the Sea of Galilee or comments on "Legitimate Rape".

All along the way the GOP seemed to shoot themselves in the feet. This was the only time they did not  have a foot in their mouth. My hopes to replace Obama was not looking good.

Then along comes another out of towner, Hurricane Sandy. The storm of storms will have an affect on this election. Obama is front and center dealing with the needs of the Nation. Willard is pushed into the wings trying not to look as an opportunist. (see Benghazi, Libya). The election is only days away with the Electoral College biggest delegates in the heavily populated Northeast section of our country not expected to have electricity restored for weeks. Obama with the resources of the entire budget at his fingertips can hand out goodwill to voters in the name of FEMA.

Years ago there was a game show on afternoon TV where a panel of celebrities would interview three contestants to find the one who was not lying. The show went on for years before being cancelled. This election season is about exposing those who tell the truth. The problem is they are all liars.





Network - We're In A Lot Of Trouble!

Network - Mad as Hell Scene

Heads Bain Wins TailsYou Lose

I promised myself when the GOP convention was complete I would focus the same scrutiny upon the upcoming Democratic Convention in Charlotte.

The RNC is far better organized making criticism easier from my point of view. The Democrats are so disorganized it's difficult to find a core to be critical.

I caught a sound bite this morning on a cable news show reporting Bain Capital were nothing more than corporate raiders. When you see Cable, News and Show in a single sentence, I always advise one to be wary.

The charge is Bain and other Private Equity firms pirated the Stock Exchange in true Gordon Gekko style. Hostile takeovers of companies who had solid balance sheets but for various reason were not making good returns for stock holders. The stock drops and in steps Private Equity henchmen in the takeover.

Private Equity invest with 10 million of their own money, borrows $200 million from large banks secured on the assets of the host corporation. Once they have seized control on the Board of Directors the task of piracy begins. Private Equity immediately makes huge manpower layoffs to improve profits. The heartbeat of Research and Development is ended. Then wages and benefit packages of the employees are systematically starved. Employee Retirement accounts are raided and then eliminated. This is a story of corporate cannibalism and the prey is the middle class worker and jobs, jobs, jobs.

New loans are acquired in the cost savings provided by it's workers. The company is now burdened with huge debts and excessive management fees from the parasite Private Equity. $20 million dollar salaries are common and obscene bonuses are normal. The once profitable company is now on a fast track to bankruptcy. Investors at Bain will make average returns. The top management at Bain will make outrageous fortunes, all from the sweat of the American worker.

The profits of the host corporation are not central to the deal. The focus on the takeover is making profits from only the takeover process. Private Equity never losses a dime and the profits of the host corporation are mostly ignored in collateral damage. The host corporation's survival depends upon it's sole output from workers. The Private Equity initial investment yield returns of $200 million over 3 or 4 years.

Certainly not the story recounted by Mitt Romney on the campaign trail. Mitt's story is not a story of making fortunes raiding the middle class corporations. Mitt seems to focus on jobs that were saved and profits returned. Mitt completely glosses over the fact that the employees wage reduction, layoffs and benefit packages financed the entire story. Not upper management gurus keen sense of business.

This was not a surprise for me, the practice has gone on for many years. The Harley Davidson story was one I was most familiar. Legendary nameplates on tough times skids on the stock market and are then caught in the focus of Private Equity raiders.

The story of Bain on the campaign trail is much different than the story I read in Rolling Stones dated August 29, 2012 written by Matt Taibbi. I think everyone should read this article who intends to vote in November.

The Rolling Stone article reports on several victim corporations. American Pad and Paper, Marion, Indiana and KB Toys, Pittsfield, Massachusetts are both far removed from Wall Street in New York but, not out of reach from the pirate henchmen on the seas of high finance.

This is not intended to be a referendum on the election, Republican or Democrat. The Stone article goes on to point out this activity is first within the law. Second it points to the tax code that allows Private Equity to deduct interest payments from tax obligations. Third, Private Equity is entitled to reduced taxes 13.9% on investments versus income, also found in the tax code. The tax code is the largest weapon in the Private Equity arsenal.

Both Democrats and Republicans have had opportunities to change the tax code and stop the piracy in the Stock Markets. Obama is the accomplice to the crimes committed by Romney and the looser is We The People.

The Democratic National Convention

Romney, Ryan

The Bain Train has left Tampa. Mitt Romney was selected by the GOP to represent on November 6. I would have preferred a candidate closer to Teddy Roosevelt. I will likely vote for Gary Johnson and avoid the 2 party system entirely. Or another lonely Tuesday night in November, eating popcorn, watching returns on TV, playing Constitutional Roulette. I refuse to accept the choices are tax cuts to imaginary job creators or building a giant government that validates every aspect of American life. I cannot in good conscience vote for any candidate who supported or voted for TARP or the Patriot Act

Clint Eastwood:

I was amazed at the performance of Clint Eastwood. His speech was completely foreign in the GOP forum. If you anticipated another heart warming account from the revival tent you would be disappointed.

Following the endless week long list of boring speakers waving the flag, recounting past personal achievements made possible from first hand American Experience. Compelling stories of immigrants coming to America revealed in the first person. Lots of I and me Soap Opera testimony.

Eastwood spoke to the audience in the third person. Detached from party affiliation speaking from his own account. Revealing the same questions every voter must deal with when the curtain closes November 6.

Clint could have spoke of his own immigrant father and childhood in California. The stark contrast between politicians in Elmer Gantry mode and Eastwood who chose to expose hard facts regarding the past four years. Clint didn't miss the chance to denigrate attorneys and politicians along the way. In a true Hollywood delivery Eastwood spoke "this land belongs to you and me. We run this country and politicians work for us". He said later he didn't want an attorney in the White House, preferring a businessman. And of coarse one for the road "go ahead make my day" straight from Harry Calahan.

The Best Quote:

The best quote of the GOP Convention goes to Rand Paul who said " We have nothing to fear except our own unwillingness to defend what is naturally ours, our God given rights.We have nothing to fear that should cause us to forget or relinquish our right as free men and women.

The Biggest Embarrassment:

The biggest embarrassment goes to the 2 conventioneers who were expelled from the floor for throwing peanuts at a black CNN Camerawoman, chanting this is how we feed our animals. The mockery was reported by several news carriers although, none describe the conventioneers race, gender or political persuasion. Wait till the Reverends get a hold of these pictures. Which will surely surface at the Democratic Convention. Why would you attack someone with peanuts who is armed with a camera?

The Biggest Lie:

The biggest lie goes to Condolezza Rice for her comment "Education is a Civil Rights Issue".Political parties have a long history of building a platform around ideas that are without facts or merit. They then build logic around the fantasy at the core to prove their flawed agenda. The entire Bush Administration is an excellent example of this tactic. Little of anything Bush did in office had any purpose or accomplishments.

"Exodus" by Henry Mancini