What is Bain Capital? Well, simply put, Bain Capital is a group of PRIVATE investors, using their own money to assume control of companies that are already failing. The idea is that perhaps these companies can be kept from failing, and in some cases, perhaps not. If the company turns around under Bain management and reorganization and makes money, (Staples, for instance) the investors have made money. If the company cannot be rescued and it fails anyway, then the investors have lost money. That’s the general idea. The *principle* that drives Bain Capital is that these investors are using THEIR OWN MONEY. Not YOURS.
Quite to the contrary, the government is always happy to play with money that belongs to someone else, i.e. the American citizen. Here is what the current Administration is doing with taxpayer money. Your money. Here’s a list (but far and away not a complete list) of current taxpayer funded “green” job companies that are headed to bankruptcy court. It might serve to also remember that 4 out of 5 of these “renewable” energy companies, backed by your tax dollars and the Administration’s Energy Department are run by or primarily owned by Obama financial backers.
- Evergreen Solar – $3M in DoE funds, $58M from the state of Massachusetts;
- SpecrtraWatt – $500K;
- Solyndra – $535M;
- Beacon Power – $43M;
- Eastern Energy, an AES subsidiary -$17.1M;
- Nevada Geothermal – $98.5M;
- SunPower – $1.5B;
- First Solar – $3B;
- Babcock & Brown – $178M (they’re Australian);
- Ener1 – $118.5M;
- Amonix – $5.9M;
- Fisker Automotive – $339M to build cars in Finland;
- Abound Solar – $400M;
- Solar Trust of America- $2.1B;
- A123 Systems – $279M;
- Willard & Kelsey Solar Group – $6M
- Johnson Controls – $299M;
- Schneider Electric – $86M.
And so……the problem with Bain Capital is what, exactly? That some of the Bain privately backed companies had departments or operations overseas? Would that be like Obama sending our tax dollars overseas to Fisker? Or outsourcing our space program, arguably the greatest source of American pride in history, to the Russians?
Why do I care one bit about what Bain is doing with private money? Answer: I don’t. I am however, very concerned with what Obama is doing with *mine*. And just a few weeks ago, on July 16th at a campaign event, Obama promised that if he is re-elected he will continue to do it, and at an accelerated pace.
And finally…..at the very pinnacle of hypocrisy, we find the Hypocrite-In-Chief taking money from the very devils themselves: Obama Takes Bain Money
May sanity once again begin to be restored to America in November.