Matt Taibi: Romney a Backward-World Version of Che or Trotsky

Matt Taibbi's upcoming (9/13) Rolling Stone piece on GOP Presidential nominee Mitt Romney is devastating in its detail, accuracy and laser-like focus. 

Far from being a bungling, gaffe-emitting lightweight, Taibbi wants us to see Romney for what he really is: "[T]he frontman and apostle of an economic revolution, in which transactions are manufactured instead of products, wealth is generated without accompanying prosperity, and Cayman Islands partnerships are lovingly erected and nurtured while American communities fall apart."

In his piece, Taibbi explains in lucid terms the leveraged buyout (LBO) business in which Romney and his firm, Bain Capital, were engaged, and precisely how it represents in business terms the very thing he inveighs against in the government: massive debt. "Mitt Romney is one of the greatest and most irresponsible debt creators of all time. In the past few decades, in fact, Romney has piled more debt onto more unsuspecting companies, written more gigantic checks that other people have to cover, than perhaps all but a handful of people on planet Earth," Taibbi charges.

We have forgotten, Taibbi says, that Romney is and has long been a part of the Wall Street gangs of thugs who looted the American economy, nearly brought the world's financial institutions to their knees, and made billions in the process. Not only that, but Taibbi says the highly touted rates of return Bain provided its investors were unspectactular at best and that, but for a provision in the tax code intended to help the middle class keep their homes, Bain would probably not have been able to make even that much of a return.

You owe it to yourself to read this piece. It's the most solid and precise indictment of the man who would be President of the 1% I've read.

Comments are closed.