Picking Winners & Losers

  • Aired:  10/25/12
  •  | Views: 374,401

At Bain Capital, former top-notch venture capitalist Mitt Romney could pick investment failures better than the federal government. (4:55)

( CHEERS AND APPLAUSE )

>> Jon: HEY, EVERYBODY, WELCOME TO THE DAILY SHOW.

MY NAME IS JON STEWART.

OUR GUEST TONIGHT, THE HOUSE DEMOCRATIC MINORITY LEADER NANCY PELOSI WILL BE JOINING US TONIGHT.

MAYBE WE'LL TALK ABOUT THE ELECTION!

MAYBE WE'LL FWAUKT SELECTION, WHICH YOU MAY HAVE HEARD IS HAPPENING, 12 DAYS FROM NOW IN THE GREAT STATE OF OHIO.

(LAUGHTER) I'M NOT SURE IF ANY OTHER STATES ARE VOTING THIS YEAR, BUT CANDIDATES ARE BEGINNING TO MAKE THEIR CLOSING ARGUMENTS.

AND IF I COULD FRAME THEM THROUGH LYRICS AND MUSIC OF THE GREAT BRITNEY SPEARS, BARACK OBAMA IS SAYING TO

THE ELECTORATE, HIT ME BABY, ONE MORE TIME.

(LAUGHTER) WHEREAS MITT ROMNEY IS PERHAPS SUGGESTING, I'M A GENIE IN A BOTTLE.

(LAUGHTER) REALLY, THEY'RE NOT SUNG BY THE SAME PERSON, ARE YOU SURE?

NO, THEY ARE SUNG BY THE WONDERS THAT JUDGE ON THE TALENT SHOW.

THERE'S TWO MUSIC TALENT SHOWS?

I HAVE GOT TO GET MYSELF A ZUNE.

(LAUGHTER) WHAT ARE WE TALKING ABOUT?

OH, YEAH, MITT ROMNEY'S CLOSING ARGUMENTS.

>> THE GOVERNMENT OF THE UNITED STATES IS NOT A GOOD VENTURE CAPITALISTS, HE LIKES TO PICK WINNERS AND

LOSERS, ABOUT $90 BILLION IN GREEN ENERGY COMPANIES LIKE SOLYNDRA AND TESS LA A FRIEND OF MINE SAYS HE

DOESN'T MIND PICKING WINNERS AND LOSERS, HE LIKES PICKING LOSERS.

>> HALF OF THEM, THE ONES INVESTED IN HAVE GONE OUT OF BUSINESS.

>> Jon: HOLY CRAP!

IS THAT TRUE, HALF?

63 ENERGY COMPANIES GOT SIGNIFICANT FEDERAL STIMULUS MONEY AND THREE AND A HALF YEARS LATER FIVE HAVE GONE BANKRUPT.

SO THAT IS HALF, 50%, THAT'S AMAZING.

THAT'S-- WHAT?

OH, THAT'S NOT THE SAME NUMBER, HOLD ON-- OH, IT'S ACTUALLY 8%, MAN.

I REALLY HAVE TO GET A ZUNE.

(LAUGHTER) AND THEN SELL IT AND GET A CALCULATOR.

WOW, 8% BANKRUPTCY RATE, STILL, MAYBE THAT DOESN'T SOUND SO BAD.

BUT COMPARE THAT TO MITT ROMNEY, TOP-NOTCH BAIN CAPITAL VENTURE CAPITALIST.

>> "THE WALL STREET JOURNAL" DID SOME DIGGING FOR TODAY'S PAPER IT LOOKED AS 77 BUSINESSES BAIN INVESTED IN

WHILE ROMNEY LED THE FIRM.

22% OF THOSE COMPANIES EITHER FILED FOR BANKRUPTCY OR CLOSED 8 YEARS AFTER THE BAIN INVESTMENT.

>> Jon: SEE, 22%!

TO 8% FOR THE GOVERNMENT.

SEE?

(CHEERS AND APPLAUSE) THE GOVERNMENT CAN'T EVEN GET MITT ROMNEY AT PICKING FAILURES.

LET'S TAKE A LOOK AT ONE OF ROMNEY'S NONWINNERS, WAS A COMPANY CALLED LIFE LIKE WHICH RECEIVED $2 MILLION

FROM BAIN, A PERSONAL LOAN FROM MITT ROMNEY HIMSELF, SHORTLY BEFORE IT WENT BANKRUPT, BAIN SOLD IT,

TAKING THE COMPANY FOR $15,000.

WOW, $15,000 DOWN FROM 2 MILLION, THAT'S A SOLID 99% RETURN MINUS.

WHY?

WHAT DID LIFE LIKE MAKE?

>> NOW YOU CAN GET YOUR VERY OWN MY TWIN AT MY TWIN.COM.

>> TWICE THE FUN, WE HAVE MORE FUN.

>> ONE OF A KIND MY TWIN DOLLS.

(LAUGHTER)

>> Jon: IS IT LOOKING AT ME?

WHY WOULD MITT ROMNEY THINK ANYBODY WOULD WANT TO BUY A PRODUCT SO EARLY CLOSE TO YET SO CREEPLY FAR FROM HUMAN?

WHY WOULD MITT ROMNEY THINK THAT A PERFECTLY SCULPT-- SETTLE DOWN WHY WOULD MITT ROMNEY THINK THAT A PERFECTLY SCULPT YET DEAD

EYE REFUGEE FROM THE ISLAND OF BATTERIES NOT INCLUDED, WHY WOULD HE THINK MILLIONS OF AMERICANS WOULD WANT THAT?

LISTEN, SAY YOU WHAT WANT ABOUT SOLYNDRA.

AT LEAST WITH SOLYNDRA LITTLE GIRLS DIDN'T WORRY THAT THEIR SOLAR PANEL

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