Skadden Skelton Closet

Skadden Skelton Closet

There has come more than enough news, more than enough junk yard dog attacks, more than enough of everything except the “truth” with respect to Mitt Romney’s BAIN affair affiliation. Missing in action is a bonafide “truth in cheating” statement. Basically, what did Mitt get from Bain in return for his involvement as a “General Partner”. Already confused? It is a very technical “mission”, to dissect what it is all about, the controversial “way offshore” dealings, yet the incision so close to such delicate functions is paramount in efforts to pass the muster, to “Aye or Nye” Mitt as a viable and qualified candidate for the U.S. Presidency. It is all about character, which allows wealth as a secondary benefactor. They’re rich, and like most things of past once good now come to pass, even politics has been “businessized”. Look, if this not be true, then Penn State would still be a proud Alma Marta! But the media has once again jumped conclusions and with that, missing the “big picture” with respect to Mitt’s dealings with Bain. And when it appears that the defense has purposely “pulled the wool”, or at least used this age old remedy of “confusion says” rules the road, to block any attempt to provide a reasonable explanation upon something of interest, well the “Red Flag” means time to bring in the big guns. BAIN, it is becoming a household word. “Bain me, bain me, they oughta make a bribe to tame me, sell me to the highest buyer, woman won’t you sleep for free…mitt, mitt, mitt, bababit ba bain”. For one thing, with this Romney Bain issue, it is a “cat out of the bag” predicament and when it is all said and done, we will at least be able to thank Mitt for providing us with an understanding upon this preferential “For the Wealthy” only, stingy stealth like tradition, just how the “Leveraged Buyout” underworld works. And it is definitely an “Underworld” undertaking. When we see the opening scene of “The Godfather”, it is focused on the “Black Hand” extortion by Don Fanucci, demanding “protection money” and a young Don Corleone finding interest an opportunity. With “Fast & Furious” forward, when Michael Corleone fled to Italy in hiding, well I do believe it was this same like scene that found Mitt Romney as an LDS missionary in France during Vietnam deferment “Trois”, he was becoming a “visionary”, just how to take advantage the system to win over the coveted “el-captian” Don Perignon role, a champagne and caviar type guy. Please, “no” hamburger helper. Now putting this all in a perspective, Don Fanucci was a role model to Al Capone, with extortion practiced as a lucrative and somewhat carefree money making proposition. Well the untold story, the entire Bain “mission” finds success through “extortion”. Thus Mitt is an extortionist bent on becoming a president. It would be the ultimate prize for the “underground”, success at last, success at last. See, back in the early 80’s, a man named Joe Flom saw the same opportunity enjoyed by Fanucci and Capone. Not in “black handing” neighborhood butcher shops or corner brothels, he saw opportunities the same in “big business”, the onset of what is called today “LBO”, or “Leveraged Buy Outs”. If the same kind of fear could be used to scare the business climate that was prospering towards a new-tech hi-tech revival revolution, then maybe there is “money” to be made hand-over-foot thought Joe. It worked, and by the mid 80’s, Joe was taking in $50k per mom & pop business, as a retainer for protection, against any attempts to have a business owner have to put up with an unfriendly takeover. Joe was getting rich, in 84 alone bringing in over 200 business owners on his “protection” scam. And what was interesting, it was the fact that they were afraid of Joe’s own proven LBO tactics that insisted on this type of insurance. Think about how many jobs were lost when a business had to fork out $50k? It was becoming an “either with me or against me” front from its inception. Basically, if you had a business, it meant pay Joe or live with the threat of a hostile takeover – orchestrated by Joe. It was providing the ultimate Catch-22. And it was all legitimate! See, if retained, then Joe had to play it safe. If no retainer, the sky was the limit. Well that “extortion” money needed protection from taxation, and along comes Mitt. Now Romney must have seen Joe’s dream with “bottle” glasses - magnified. OK Mitt, time to play. So if a business had protection, from a retainer to Joe’s law firm, all that was required was “litigation” and Joe’s henchmen would go into action. Now when is enough money enough? When an individual has enough such that services rendered gets compensation not by the greenback, because of “taxation”, but through other transactions like “stock”, that is where this country finds an exodus.  So Joe would litigate, and win, but would now have the business by the balls as payment would come in the form of “ownership”. So there would exist the possibility of a takeover. Hostile? I guess not. But definitely tainted business practices, through “insider” like derelictions. And Mitt became a seasoned player in this “cat and mouse” game. What has gone on here, it is no different then when Fanucci bullied the neighborhood, no different then when Capone bullied a city, the only difference, instead of Corelone’s affiliation with the Catholic church, we have the Latter Day Saints on Mitt’s side. So what is with the “Scadden” in the title this writing? Well Skadden to be more precise, it accounts for Skadden, Arps, Slate, Meagher & Flom. One of the most powerful and politically motivated law firms this century. Please Mr. Earl Yaffa, what the hell is “Project Capital 84”? I realize that as “Limited Partner” in the Willard M. Romney Bain Capital Partners, you contributed $4-million in 1984. A bunch of money value back then, maybe “seed” money, for Mitt? That was from “securities” of Sanborn Associates, Presidential Airlines Corporation, the United States Commercial Mortgage Finance Corporation, Key Holding Corporation, Medivision Inc., and the Eye Cooperative. And why is it the following part of the Romney & Bain pact: “No dealings with Morgan Stanley”? Still haven’t figured that one out. OK, what does it all mean in a nutshell? This partners’ equity – gains from winning litigation – there was a need to hide this money away. Mitt Romney’s actual wealth is very questionable, the reason he refuses to hand over tax returns. It is estimated that he has over $100-Million in gold bouillon, not by paper facts, but actually in possession that amount of “gold”. But it is not Mitt’s wealth entirely, the same reason Mitt has been scolded upon the size of his IRA. Mitt is a conglomerate! Mitt is a front-runner, for the entire wealth hoarders of the “Bain” partnership. He is the kingpin in charge of making sure the money and dividends are safe, with complicated distractions to make sure Uncle Sam sees only a pittance confiscated through taxation. That is where Mitt shines, manipulating the “Partnerships” loot for safekeeping. Mitt’s tax accountability, at an estimated 13.8%, that is for the entire venture, which has about 20 “equal” partners. Look, do the math, Mitt could not have made it so wealthy in such a short period of time. Sure he is rich, but it is the other’s wealth that acts as a “black hand” role and lends a role to further “extortion”! Basically speaking, when Congress started thinking about ways to protect “US” in the “market” through investing, when opportunities were beginning to be enjoyed by the working ranks, through investing for retirement, it was then that such an interest for “rules & regulations” started to scare the “big players” – like the “Bains”. Not to worry, as what evolved is way, way bigger then just some “offshore” tax sheltering. What has evolved with the “Bains”, it is a stock market onto its own, incorporating unbelievable wealth, and a ways and means to pay little or no taxation. The carryover is what the Stock Exchange deals with, the reason it is alive, but limping on empty. Case in point as a “wind sock” indicator that you don’t need a weathermen to tell which way the “stink” goes, take the California retirement fund. With over $240-Billion in equity, this fund requires at least a 7% annual return, to stay afloat. It averages a “negative” 7%, as the market cannot get up on step, it is stalled equity. At the same time, the “Bains” are awash in “equity” returns. And there is really no difference, except…This is what’s all about, manipulation, they use our money to gamble. With a win, they take most of it. On a loss, they are safe. You want Mitt’s tax returns, good luck. And even so, even if manipulated to look legitimate, with so much at stake, don’t hold your breath that the IRS will catch up to such thievery, as money has a ways and means of sinking good intentions and sinking ships. The bottom-line, it is a scam that safeguards wealth, safeguards against “taxation” and used to control and manipulate, because we are beginning to find out just how far wealth and power has taken this nation, and it stinks. And Mitt doesn’t seem to care as he only understands a single lifestyle, and we ain’t included!