Corporate raiders like Bain don't create jobs, they eliminate them. These bloodsuckers say that they are making the economy more productive by eliminating waste; but what they're really about is making a quick buck at the expense of everyone else. The robber barons of the past have nothing on their unbridled greed, which would make the most rapacious pirate blush for shame!

The OA didn't bailout GM, they nationalized it for the benefit of the UAW. One of their principal tools was structured bankruptcy. The same process Romney says they ought to have followed. The difference is that the OA corrupted the bankruptcy proceeding to their own ends, rewarding UAW cronies. Attempting to create a false dilemma of bailout or liquidation is partisan nonsense.

Where is the OA compassion for the thousands of workers that lost jobs in their GM nationalization? Where are the outraged cries against corporatism over the $50 billion looted from the public treasury?

Using the same standard as the ad how many deaths from loss of auto worker insurance did the OA cause as a result of the auto manufacturing nationalization?

That is not correct: it was a bankruptcy reorganization. The General Motors (GM) Chapter 11 case was filed at the height of the economic recession; and there were no banks or other commercial lenders that could provide the DIP (Debtor in Possession) financing necessary to continue business operations during the reorganization proceedings; and without the government assistance (and that of Canada as well) GM would have been DOA (dead on arrival) on the first day, forcing the liquidation of the company, and loss of thousands of jobs as happened in the Circuit City bankruptcy that cost over 35,000 jobs. The liquidation of GM would in turn precipitate the failure of hundreds of related industry manufacturers and suppliers resulting in a flood of business bankruptcy cases across the country, and loss of millions of jobs. And, as it turned out, the reorganization was a success; witness the profitability of the company today.

That's something I agree with romney on. The government shouldn't be in the business of picking and choosing which companies will fail and which ones won't. They need to keep their goddamn nose out of that ****.

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To tax the larger incomes at a higher percentage than the smaller, is to lay a tax on industry and economy; to impose a penalty on people for having worked harder and saved more than their neighbors. ~ John Stuart Mill

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In a normal economy I don't think there would be a disagreement.

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Truth, Justice and the American way

The government certainly has a role in private enterprise. Likewise, the government is a party in interest in every bankruptcy proceeding as represented by the Office of the United States Trustee.

To paraphrase another thread.....Lies, Damned Lies, and obama Lies.......

Obama camp denies knowledge of cancer tale it told in May | The Ticket - Yahoo! News

I know, the buck never stops at obama's desk, he is not responsible for anything, if we give him a chance he will blow roses up every bodies arse.

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Courtesy of Swissman

A gun in the hands of a free man frightens and angers the autocrat, not because he fears the power of the gun, but, rather, the spirit of the man who holds it.

ANONYMOUS

That Obama ad is probably the most disgusting, lying, useless piece of videotape and trash, ever put up in American politics and just shows what type of integrity our President has. Everything put out by the Super PAC is approved in advance by the President (imagine, he claims he has no idea what kind of ads they are going to produce)? The longer they run it, the more people are going to turn against him for it. Mr. Obama knows he has nothing in his record that he can advance as accomplishment, so he will print lies and dirt non-stop on Mr. Romney to divert his total record of failing to accomplish anything in office the past four years. I have seen some nasty political fights over the years, and never seen anything like this totally false and gutter-type ad. Whatever "benefit of the doubt" I was willing to give President Obama on a second term died when I saw this advertisement. It should be pulled from the air immediately - and I e-mailed that to the White House......

Only in oversight of the proceedings.

They have no business interfering with private enterprises as to failure or not. No company run the way the GM was would have survived, and they sure didn't intercede with the office supply place down the street that closed after 52 years in business.

He pandered to his cronies and shined his brass to cater to certain voters.

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"Try and fathom the hypocrisy of a Government that requires every citizen to prove they are insured, but not everyone must prove they are a citizen".

First of all, government funding is nothing new; the Bush administration provided 17.3 billion in emergency loans to GM and Chrysler to assist in restructuring efforts, which were unsuccessful. You should also know that billions of dollars in government insured loans to business are wiped out in bankruptcy every year. In the GM case, the government was granted a priority lien for administrative expense (which security the government would not have but for the bankruptcy filing); and a major equity share in the reorganized debtor. Secondly, in almost every reorganization proceeding, the interests of equity security holders are either subordinated or extinguished (viz. equitable interests do not have priority over legal interests of creditors). The bankruptcy laws operate to balance the interests of debtors, creditors, equity holders, unions, government units and other parties in interest.

The GM reorganization, which was one of the biggest bankruptcy cases in our history, was a huge success. Alternatively, letting GM fail would have been a catastrophic loss with consequential damage to the economy, and at the worst possible time. It was just not an option.