Mitt Romney: The Great Deformer

See on Scoop.it - Common Sense Politics

Is Romney really a job creator? Ronald Reagan’s budget director, David Stockman, takes a scalpel to the claims.  Mitt Romney was not a businessman; he was a master financial speculator who bought, sold, flipped, and stripped businesses. He did not build enterprises the old-fashioned way—out of inspiration, perspiration, and a long slog in the free market fostering a new product, service, or process of production. Instead, he spent his 15 years raising debt in prodigious amounts on Wall Street so that Bain could purchase the pots and pans and castoffs of corporate America, leverage them to the hilt, gussy them up as reborn “roll-ups,” and then deliver them back to Wall Street for resale—the faster the better.

See on thedailybeast.com