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The rest of the story...

Bob In Portland

I read your link, Sis, and essentially it didn't refute what I'd written. Hostess is not in economic distress because the union went on strike. It's in distress because investment bankers borrowed money to buy Hostess and then burdened the company with their debts. I have not taken the time to find out whether Richard Gephardt is on the Hostess board, but it's not the issue. I have pointed out repeatedly in my blogs how Chelsea Clinton is an arbitrage banker and what that says about her parents. It's not whether the banker/owner is a registered Republican or Democrat. It's what the banker/owner does.

The connection with Bain Capital, which the "American Thinker" doesn't seem to get or want to admit, is that this is how Bain makes its money. It buys companies with borrowed money, puts the debt on the company, and then dismantles the company when it inevitably goes bankrupt.

(By the way, American Thinker discusses Ripplewood as the cause of Hostess' problems, but it had declared bankruptcy five years before Ripplewood had acquired the firm.)

It's pretty apparent that you see the world as right versus left, Republican versus Democrat. The problem with bifurcating the world that way is that a lot of Democrats are Republican-lite. That's how Gephardt was when he was in Congress a decade ago. He's a lobbyist now. If you want to go back into history, Eisenhower was a lot more liberal, or more accurately, egalitarian than almost anyone in office today. Was he was bad Republican?

If you were to draw a better political map, it would be top versus bottom. Who wants to support the rich to the detriment of the bottom 98% percent?

And the point of this blog is not about Richard Gephardt but The Blaze and Glenn Beck, and what happens when you rely on him as a source of information. Read the comments under The Blaze's article on Hostess. That's the message that was received.

I'll look at some of the American Thinker's links, but whether Gephardt is involved or not really doesn't matter. Do you understand what I am saying?



More on the topic.

Not really saying that the union was directly responsible for the downfall of Hostess, since there have been ongoing problems for the company for quite awhile. People look back with fondness at eating Twinkies when they were kids, but one hasn't passed their lips in 50 years. So there's lots of nostalgic talk on this topic, but if people aren't really buying the damn things anymore, it's inevitable that the company will go under. They've been struggling for years and doing what they can to keep it alive. Some business decisions are sound, others aren't. Labor is the most expensive part of running a business, so when the golden goose can no longer put out...

It's not Republican/Democrat and never was; it's Conservative/Progressive. Lincoln was a Republican, but decidedly left-wing. Teddy Roosevelt was a Republican, but he founded the Progressive Party and its precepts go further left than the Democrats of today.

Lida daidaihua


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