The U.S. Senator Holding Flint Aid Hostage

[Octafish]

14. I heard Mitt lives in the Mitt...

One would think he'd actually care about Flint and his current or former home state and all.

The Bankruptcy and Privatization of Detroit Is a Terrifying Preview of What Republicans Want to Do to the Rest of the Country

Hold on tight to your pensions.

By Thom Hartmann / AlterNet December 8, 2013

Mitt Romney should be proud of what’s happening in Detroit.

That’s because during his time at Bain Capital, he perfected the type of glorified extortion tactics Rick Snyder and Kevin Orr are using right now rob city workers of their hard-earned pension plans.

When Mitt was running Bain during the 1980s and 1990s, the company made its money by forcing companies into debt and then robbing them blind for every last bit of cash they had.

Bain would take out a loan for, say, a billion dollars. It would then use that billion dollar loan - its leverage - to buy a company. But instead of paying back that billion dollar loan itself, Bain would dump it on the company it just bought. In other words, Bain would make the company it just bought pay for its own acquisition.

And where would that company get the billion dollars to do that? Well, good old Mitt would say that it got the money by eliminating fraud and waste. But in reality that money came from stripping the company of its assets and converting them into cash.

CONTINUED...

http://www.alternet.org/tea-party-and-right/bankruptcy-and-privatization-detroit-just-preview-what-republicans-want-do-rest

Hence, the Flint switching from Detroit City water -- it would help make the case for "Privatization" where Bain and its ilk swoop down.

If Mitt's still a Utahn, great. Wonderful state and lots of truly great people. Like Mitt, though, that particular Mike Lee is a turd.