vulture capitalist

NEW YORK TIMES


BAYONNE - N.J. - Nicole Adamczyk’s drinking water used to slosh through a snarl pipes dating from the Coolidge administration - a rusty rickety symbol of the nation’s failing infrastructure.

So, in 2012, this blue-collar port city cut a deal with a Wall Street investment firm to manage its municipal waterworks.

Four years later, many of those crusty brown pipes have been replaced by shiny cobalt-blue ones, reflecting a broader infrastructure overhaul in Bayonne. But Ms. Adamczyk’s water and sewer bills has jumped so much that she is thinking moving out of town. 

“My reaction reaction was, ‘Oh so I guess I’m screwed now?’” said Ms. Adamczyk, an accountant, and mother of two who received a quarterly bill for almost $500 this year.

Even as Wall Street deals like this one with the Bayonne help financially desperate municipalities to make much-needed repairs, they can come with a hefty price tag - not just to pay for new pipes, but also to help the investors earn a nice return, a New York Times analysis has found. Often, these contracts guarantee a specific amount of revenue, the Times found, which can water bills soaring.

Water rates in Bayonne have risen nearly 28 percent since Kohlberg Kravis Roberts, one of Wall Streets’ most storied private equity firms - teamed up with another compony to manage the city’s water system, the Times analysis shows. City officials also promised residents a four-year rate freeze that never materialized.

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Romney: Vulture Capitalalist

Mitt Romney is a Vulture Capitalist.” - Republican Conservative Leader Governor Rick Perry

Mitt Romney is a liar.” - Republican Conservative Leader former House Speaker Newt Gingrich

Mitt Romney is the WORST Republican for President. We may as well stick with Obama rather than elect Romney.” - Republican Conservative Leader Former Senator Rick Santorum

Republican Leaders have called Romney’s economic planVoodoo Economicsbecause it doesn’t work, and funnels money to the Wealthy, causing economic disparity and division;
Republican Leaders have called Romney’s business style “Vulture Capitalism” because it profits off of the “carcasses” of fired Middle Class and poor workers.

REPUBLICANS, LISTEN TO YOUR LEADERS. RE-ELECT BARACK OBAMA 2012

I have had some flack about these quotes not being real - they were taken from the multiple Republican primary debates, you know, when truth was held hostage and name-calling reigned supreme! Newt and Rick HATED Romney, they both despised the ground he stood on - I don’t know why the DNC hasn’t used more of this stuff because this is really how the Old GOP sees Willard.