Transcript: O'Reilly on The Factor - January 9, 2012 - Stuart Varney segment - spewing out utter nonsense:
"I am more concerned whether he is a predatory capitalist - because there are a lot of raiders who go in - they buy these companies who are in trouble - and they fire everbody and they try to sell it at a profit - that's an industry - there is a degree of them - you know- here are some ruthless people who go in and every body knows - they go in with a big hammer. --- there are situations where venture capitalists go in - they gut the company - fire every body - reorganize at a smaller level and sell for a profit - that's what they do."
There is not a single basis, in fact, for any of the above commentary:
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Who are these "predatory capitalists" - "ruthless raiders" who "everybody knows"?
What "industry" "fires everybody" - "goes in with a big hammer" - "guts the company"?
O'Reilly couldn't possibly name a specific victim company - or an "industry" - or a single venture firm that does these things because there are none.
We expect this kind of drivel to come out of the mouth of a liberal - now we discover that folks who we thought knew better are absolutely clueless about the role that buy out firms perform in our economic system - why they buy 'damaged' assets - and, most important, the reality of the risk/reward ratio of trying to fix troubled businesses. All of this is well known to most business people - but apparently not O'Reilly. This nonsense is exactly what we don't need in our Country - totally false propaganda uttered by a bloviating pundit that fuels the fire of socialists and turns already mis-informed American citizens against capitalism. What a shame!!
Oh for the days of Milton Friedman - he explained the never ending cleansing process of the free market so well. It is indeed shameful that Gingrich and Perry - with O'Reilly kibitzing on the sidelines - have dragged this leftist topic into the Republican primary election process.
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