So you own a struggling restaurant with a liquor license but you’re barely making payroll and the banks don’t want to give you any money to fix up the joint because restaurants are a notoriously bad bet. Hearing of your troubles, the local swarthy gentleman of means offers to make you a loan at the going street rate and, since your options are down to zero, you accept the offer and cross your fingers and hope for the best. With money in hand you make a few changes and business picks up with the addition of some new customers who happen to be business associates of your investor. Of course, being good buddies, their meals and drinks are frequently comped, but that’s the price of doing, and staying, in business.
After a while business kind of levels out and, combined with the freebies you’re handing out on an almost nightly basis, you find yourself unable to keep up with your bills and your loan payments. Your erstwhile benefactor then offers to come in as a silent partner (with a slight reduction in your weekly payments), and he places a few management consultants on the payroll to help run things more efficiently. Take care of business. You know. Next thing you know your bills with the liquor distributor start to rise into the atmosphere but with no corresponding increase in actual inventory, as cases of booze are being sold off at discount to friends of friends and don’t worry, we got it all covered. We’re cool. Same thing for expensive meats and anything else that can be skimmed off for a quick off-the-books buck. Pretty soon your creditors come knocking on the door looking to get paid for all the bills your silent partner and his consultants have run up, but, poof they’re gone along with the alcohol and whatever else is not tied down; and now you’re saddled with debt you previously couldn’t have dreamed of running up. Your restaurant is shuttered, the equipment auctioned off for pennies on the dollar, your employees are out of work and you’re ruined.
Outside of the fact that they both wear nice Italian suits, the only difference between your street benefactors and Bain Capital is the extra two or three zeros added to the end of the debt amount and the guys at Bain (Biff and Skippy and Mitt) all have last names that don’t end with an ‘i’ or an ‘o’…




25 Comments












Support this site!
Subscribe to the newsletter
Advertise on Firedoglake
Send
us your tips
Make us your homepage
About Firedoglake
“it’d be a shame if something were to happen to that nice country you got there…”
Of course, once Romney wins the primary this’ll be flushed down the GOP/Media Memory Hole just like GHW Bush’s “voodoo economics” taunt at Ronald Reagan
In related news, if you needed any more proof that Republican economists are con artists, I give you this:
Right on, Tbogg. Don’t forget approx. $312 billion USD still offshore for “repatriation” (hat tip David Dayen, June 20, 2011).
Great analogy!
This is a scandal. I hope that the plaintiffs do very, very well!
but, but….he wrote the whole proposal on a cocktail napkin which looked great until the napkin got wet
Bain Capital is named for Bill Bain, but I thought it was interesting that “bain” is french for bath.
Idiom alert: “take a bath”
Experience serious financial loss, as in The company took a bath investing in that new product. This idiom, which originated in gambling, transfers washing oneself in a bathtub to being “cleaned out” financially. [Slang; first half of 1900s]
Read more: http://www.answers.com/topic/take-a-bath#ixzz1jGq3sTHq
Mr. Bogg:
I found this writing good today; likewise, you did not cement your conclusion by carefully showing how the organized crime restaurant looting matches so closely to what Bain did.
I’m not saying I disagree with you – I am just saying you could seal the deal that way, and it would make this stronger!
So THAT’S an analogy. I always get that mixed up wioth a metaphor.
Or is is simile????
What is onomatapeia???
Wow! NOw that’s one helluva coincidence.
The fact that the Republican front-runner is also the best imaginable poster-boy for the sort of behavior that got us into the economic trouble we’re in, is enough to bring tears.
How can we ever hope to turn this country around when the current trend is to lionize the king of the vultures who raided our economy to begin with.
This is what 40 years of cynical dog-whistle politics combined with Chicago School economic dogma have done to our country.
Our electoral process is dominated by angry, and deluded racists, cheering on the very vultures responsible for ruining their lives.
The keystone in this horrible edifice is our president who has done nothing to even slow down the carnage.
Got my splatter suit on to shield me from the domestic compradors’ exploding heads.
Capitalism is bullsh*t.
It’s not an analogy (although the allusion in the headline title uses analogy), it’s what we used to call a carbon copy.
The bit about “sovereign wealth funds” really jumps out at me – which countries have worked with Bain to profit on the destruction of American prosperity?
Sorry, Bob, too late for tears. The rot goes beyond dopey wingnuts and predator neocons. Those gave up on the liberal vision, one ’cause they needed the hate, the other ’cause they needed the money too.
But the liberals — they were dopey themselves, living off the fat of WWII and missing the bigger picture. Don’t go blaming it all on racists and vultures.
Can you imagine that scrapping a country would go much better?
Wake the f*ck up.
Don’t know, but “Bain Capital has offices in New York, London, Munich, Mumbai, Hong Kong, Shanghai, and Tokyo.” You’re not looking for a xeno-saboteur, are you? We’ve got enough domestic ones, TYVM.
What a coincidence, I was just thinking that what we needed around here was some more mature, less sappy posters, people with the intestinal fortitude to face the world as it is.
Its a perfect analogy I think, (similarity in some respects between things that are otherwise dissimilar). When I saw the clip Newt’s team put together I couldn’t wait to hear Limbarf and friends squealing like stuck hogs.
And its only just begun. In the general election we will hear them squealing again and again. Newt finally figured out he wasn’t, or ever would be, one of /them/. How sweet it is, we finally get some truth out of Newt and its in the lyrics of his Swan song.
Newt is going right-wing populist, gramps. You know, fascist. Ron is a bullsh*tting supremacist. And O’Bummer is going to ride this thing to New Order hell.
Have another lick of that arsenic ice cream.
Wow, right on time, this from Reuters:
We are a goofy species.
“Should I kill myself, or have a cup of coffee?”
Albert Camus
Bain homonym:
bane [beyn] Show IPA
noun
1.
a person or thing that ruins or spoils: Gambling was the bane of his existence.
2.
a deadly poison (often used in combination, as in the names of poisonous plants): wolfsbane; henbane.
3.
death; destruction; ruin.
4.
Obsolete . that which causes death or destroys life: entrapped and drowned beneath the watery
“Bain de Soleil
for the
St. Tropez tanScam trop-pay man…”What I like is the 20% of before tax profit cut taken by Bain Management – MITT likes firing people because that is dollars in his account.
You know, I had been thinking the shallowness of resignation in the faithful capitalists (that includes you liberals) was a sign of their duplicity. They had to see the connections between profit and exploitation but they masked that for the benefit of their performance (both social and economic).
[regress]
“Vulture Capitalism” is a euphemism. Bain and Romney are rather predators of other capitalists. Now, if this weren’t enough to startle those in thrall of the capitalist fairy tale, the vampire himself is running for president.
In full view of this evil aristocracy born under the capitalist sign, people pray for the capitalist resuscitation, they spectate the presidential horse race, they harangue god botherers, they snack on the peccadillos of their tormentors …
This prayer and mutual snipping, condescendingly surveyed by the predators above, was in their plan. It is a justification for it.
[return]
Those who advocate this as the best of all possible political-economies do not simply hide their resignation; they are serving devils. There is no intent on the part of their masters to serve the greater good, even via the hidden hand. Their masters are economic warmongers, despoilers, and plunderers.
It is no surprise this came to pass in a nation bent on empire.
Imagine yourself in the skin of the campaigning Romney. We know it is intoxicating to command an audience. But to see them as prey at the same time? The man is vile, evil, to be spat upon.