Mitts Pick

[nathanm]

So you're saying that lenders are so stupid, they will just lend millions to people with no guarantee/lien whatsoever.

Have you forgotten the global financial crisis precipitated by risky lending that we're still suffering from to this day? Of course they will. It's not their money any more than it's Romney's money that gets invested. They're only on the hook for a small part, and even that they hedge away with a CDS that is more than paid for by their fees on the deal. Not only is it in the lender's interest as a company, it's in the interest of the person that gets the bonus for doing the deal.

You presume much more long term thinking than evidence would indicate is appropriate.

You are correct that the lender has no rights to any of PE firms other assets, however, there will be a claw back of some sort.

Yes, a claw back in the form of the acquired company's assets, unless I'm mistaken. Keep your eye on the ball. The cash basis is what's important here. Nobody's saying it's impossible to lose (cash) money on a deal like that, only that it's set up to make it a lot easier for the lenders to take the losses than the PE firm.

[Hoss]

I saw several dozen people let go (RIFd) from my company in the years after two different PEs took over the company.  That's all I need to know about them.

[Gaspar]

I saw several dozen people let go (RIFd) from my company in the years after two different PEs took over the company.  That's all I need to know about them.

Why did they take over the company?

[Hoss]

Why did they take over the company?

Why does any company take over another?  We were never told why; only that it happened.

[Townsend]

Tax Shelters and You..."Sorry boss?"

[nathanm]

What Ryan doesn't mention is that in exchange, he wants to zero out capital gains tax. I believe that would make Romney's 2010 rate somewhere under 1% (he had some speaking fees which would have been taxed as earned income). Not so bad a deal after all, boss?

[Townsend]

What Ryan doesn't mention is that in exchange, he wants to zero out capital gains tax. I believe that would make Romney's 2010 rate somewhere under 1% (he had some speaking fees which would have been taxed as earned income). Not so bad a deal after all, boss?

Youtube never tells me these things.

[Townsend]

VIDEO: Paul Ryan Is Interrupted By Hecklers During First Solo Appearance

http://www.npr.org/blogs/thetwo-way/2012/08/13/158715314/video-paul-ryan-is-interrupted-by-hecklers-during-first-solo-appearance?utm_source=npr&utm_medium=facebook&utm_campaign=20120813

Two days after Republican presidential candidate Mitt Romney introduced him as his running mate, Paul Ryan made his first solo appearance at the Iowa State Fair, today.

It's a grand tradition in Des Moines where candidates stand on a "soapbox" and get a microphone and 20 minutes to say whatever they like.

According to The Des Moines Register, Ryan fired up a crowd of thousands with an "intense 12-minute speech." But he was also interrupted by hecklers.

BuzzFeed recounts the moment:

"Ryan had barely begun speaking when a woman shouted, "Are you going to cut Medicare?"

"Two women rushed the stage, and one was apparently arrested by three Iowa State Patrolmen after getting on stage with a banner.

"'Woah...hey...alright...she must not be from Iowa,' said a dumbfounded Ryan as the woman got on stage."

A year ago this summer, Romney took that same stage and he was heckled as well. It was then that Romney delivered the line, "Corporations are people, my friend."

Ryan continued with his stump speech after the interruption.

"One thing we've got to get straight is we're not growing this economy like we need to," he said according to the Register. "We're not creating jobs like we can in America and that is why Mitt Romney and I have a plan for a stronger middle class."

[Gaspar]

What Ryan doesn't mention is that in exchange, he wants to zero out capital gains tax. I believe that would make Romney's 2010 rate somewhere under 1% (he had some speaking fees which would have been taxed as earned income). Not so bad a deal after all, boss?

I didn't know that.  I want 0 capital gains tax too!  Sure would make me invest a hell of a lot more.  I wonder what impact that would have on markets, you know with everyone turning cash reserves back into investment?

Sounds horrible.

[nathanm]

Sounds horrible.

It's a great plan if you don't think government has to be paid for. Not much of one if your plan is to balance the budget, however.

[Gaspar]

It's a great plan if you don't think government has to be paid for. Not much of one if your plan is to balance the budget, however.

But if the economy. . . never mind!

[heironymouspasparagus]

Why did they take over the company?

To do a "Chainsaw Al" on it.

[Teatownclown]

Balancing the budget must go hand in hand with printing more money. Kinda like not flooding the engine, choke control.

http://www.rawstory.com/rs/2012/08/12/voting-record-analysis-finds-paul-ryan-most-extreme-vp-nominee-in-a-century/

There's an extremist running on the GOP/Teabagger ticket....it won't help. He may be a prick but he's no hatchet man.

[nathanm]

But if the economy. . . never mind!

When people are willing to lend to the government at negative real interest, it's pretty hard to argue that lowering capital gains tax will somehow get them to spend their money on other things. We've already showered them with tax incentives. Is there any problem in your world that cannot be solved by lower taxes?

Besides, didn't Romney zero out his capital gains in 2010 with loss carry forwards? Hard to reduce the rates any further...

[erfalf]

After watching several excruciating minutes of television last night, may I suggest we suspend use of the word "extreme". Was Ryan this extreme 3 days ago? I mean for goodness sake, he is going to have even less power as a VP than he would on the budget committee in the house.

Oh, that and I didn't realize that Romney co-authored Ryan's budget a few years ago. Who knew?