If you're paying any attention to today's news, you've heard that Ol' Willard R-Money is catching a bit of flak over whether he stopped running Bain Capital (the bane of the working person) in 1999 or not. My favorite response to this comes from Booman at the Booman Tribune (one of the best on the blogroll), who notes this:
If, as Romney claims, he did no work for Bain Capital between February 1999 and 2003 then he received roughly $400,000 for work he didn't do. The alternative is that he committed a felony, which even his defenders at FactCheck.org acknowledge. The $400,000 is significant because it was salary or compensation for work, and not interest payments or dividends or some other capital gain. But that doesn't mean that Romney didn't make a fortune on the roughly 6,000 jobs (at a minimum) his company destroyed in the four years in question. Let's be clear about this. Whether or not Mitt Romney was actually making day-to-day decisions for Bain Capital in the 1999-2003 time period, he was the CEO, chairman of the board, lone stockholder, and 100% owner of the firm. Even if he wasn't doing any work, he was being paid for work. Even if he didn't even look at the deals that cost at least 6,000 Americans their jobs, he profited from those transactions.Yeah, that's the kind of job I need: one that pays me $400,000 for doing nothing. Sure would beat being a poor college student. It's for reasons like this that, despite all his flaws, I support Sober Panda Time in 2012.
That's what makes it strange that he would use his absentee ownership as an excuse. If his partners had made bad deals and lost Bain Capital all its money, does anyone think Romney wouldn't have been upset?
Who gets paid nearly a half a million dollars to do nothing?
www.boomantribune.com/story/2012/7/12/16519/4359
(also, Happy 100th Birthday to Woody Guthrie on Saturday.)
