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January 31, 2012


Mr. Romney, the apparent nominee of the repubs for president (unless brokered out at the convention by the establishment), is reputed to make 67 grand a day. If so, that’s 469 grand a week. Divided by 40 hours (and considering that he is required to give 10% or more to his church), let’s be charitable and say he walks away with 400 grand a week, or 10 grand an hour per work week. That’s good money for a guy who is unemployed, or for that matter, one who is. Other than really big time hedge and equity fund operators and big bankers and corporate executives with their bonuses and stock options etc., the only people who make that kind of money are bank robbers, and they don’t usually rob 40 hours a week. Some (and I am one of them) consider bank robbing and Bain’s activities to be on a par, but, unlike rich capitalists such as Bain (and others) who effectively write the tax and other statutes, rules and regulations, bank robbers are never consulted on the content of bank robbing legislation. They are stuck with the criminal code the way it is, and bankers are not very forgiving – they always prosecute. Stories that the robber needed the money to buy bread for his starving children fall on deaf ears both at trial and sentencing. People who steal money have to go to jail, unless, of course, they have somehow manipulated the law to make stealing legal.

Doing time is for those who have no access to formulate such legislation, not those who do, though the end result in both cases is at least similar if not the same. It is K Street that keeps vulture capitalists out of jail with their fashioning of the appropriate statutes to legalize their patrons’ otherwise thefts through a process called “campaign contributions” and/or (since Citizens) contributions to Super Pac(s). It just keeps getting better and better for rich thieves through these legislative facades of forced legality. Is this a great country or what! Ask the ex-employees, management, stock and bondholders of the corporations ravaged by Bain; and don’t forget to also ask such corporations’ unpaid vendors and employees whose IRAs and pensions were destroyed along with other feeder business in the ravaged community. Enjoying your 10 grand an hour, Mr. Romney?

 So what is the difference between a bank robber’s theft of bank money and Bain’s theft (aka assumption of assets) of a corporation and the manipulation of those assets to turn a profit for Bain? The difference is in the language of the pertinent statute(s), and, as can be seen above, stealing means different things for different people (and corporations are people, says the 5-4 court). It all depends upon who is writing the rules (legislation), and you can bet that they are currently being written with people such as Mr. Romney (and not bank robbers) in mind. The old saying (the Golden Rule is that the guy that’s got the gold makes the rules) seems peculiarly appropriate in this connection. Bank robbers have to give up their gold; vulture capitalists keep theirs. Some even use their gold to run for president. Enjoying your 10 grand an hour, Mr. Romney?  GERALD E

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