Robber Baron was a term coined in the 1200’s to denote Medieval Lords in the area that is now modern Germany. These Robber Barons were charging tolls for ships to travel on the Rhine River.
After the Great Depression in the U.S., this term was used pejoratively to describe American businessmen who gained vast fortunes in questionable ways. This term was applied to: John Jacob Astor, Andrew Carnegie, Jay Gould, Andrew Mellon, J.P. Morgan, John D. Rockefeller, and others.
After the housing crash destroyed trillions of dollars of capital in the 2007-2008 Depression, U.S. equities markets and U.S. Banks were on the verge of collapse. President George W. Bush (43) signed legislation that gave billions and billions of American tax dollars to Wall Street Bankers and other financial intermediaries without attaching any reasonable conditions that would assist millions of working and middle income Americans. President Barack Obama, who assumed the office of President in January, 2009, continued the policies of President Bush and expanded the scope of the program. To many working and middle income Americans, the Bush/Obama” corporate welfare program” violated both the U.S. Constitution and the concepts of the free market system under capitalism.
Americans were further angered to learn that many billionaire Wall Street Bankers were using the federal tax money to reward themselves and their friends. The terms “Vulture Capitalists” and ” Modern Day Robber Barons” were applied to those individuals who benefited from the Bush/Obama plans.
Today, Mitt Romnay is a candidate for the Republican nomination for President. Mr. Romney is often referred to as a Vulture Capitalist and a Modern Day Robber Baron.
Mr. Romney was a founder of Bain Capital, a Boston based asset management and financial services company. Since inception, this company has invested in or acquired hundreds of other companies. Bain has invested in or acquired: AMC Entertainment, Brookstone, Burger King, Burlington Coat Factory, Clear Channel Communications, and many more. While Bain Capital has been extremely profitable for its investors, it has often consumed the carcass of dying and dead corporations and this has resulted in a net loss of American employment. The Vulture Capitalism practiced by Bain Capital is not what working Americans envision as the “American Dream.” It is much more like the “American Nightmare.”
Sanityandsense.com believes that Mitt Romney is the wrong man, in the wrong place, at the wrong time. Former House Speaker, Newt Gingrich, is using an “independent” PAC to inform Americans about Mr. Romney’s Vulture Capitalism.
Of course, Mitt Romney is busy “shooting himself in each foot.” Mr. Romney stated that he “enjoyed” firing people when needed. Mitt has taken a play from his father’s playbook. Mitt’s father lost the Republican nomination for president in 1968, to Richard Nixon. The elder Romney stated that he was” brainwashed about the Vietnam War.”
Sanityandsense.com believes that both Mr. Romney and Mr. Gingrich are both totally unqualified to become president of the United States. Both should leave the campaign for the good of the American People. Sanityandsense.com also believes that Barack Obama is also totally unqualified for a second term as President. America needs a leader with bold ideas that will enforce American Law and restore economic sanity to our Republic.
R. Van Conoley