What I built — with government help

  1. You have chosen to ignore posts from beKool. Show beKool's posts

    What I built — with government help

    I was born in Detroit in 1961 and grew up in a working-class neighborhood just south of the famed 8 Mile Road. My block was stable; most of the fathers of my friends worked in the auto plants. In 1968 my parents divorced and my mother, armed with a high school degree, was thrust into the workforce. We were taken out of our Catholic school and moved into public schools. Dinner was often breakfast foods, which was fine with us. Mom is still a great cook.

    Today, I own a small business, an asset management firm with $300 million in assets. Last year we launched the Roumell Opportunistic Value Fund (RAMSX) and hired three more people. We’re growing and creating jobs. I suppose I could pound my chest and take credit for my journey from Detroit to Chevy Chase, from working class to professional. I could say I built it myself. But this wouldn’t be true.

    In 1967, Detroit’s riots came to our neighborhood and our dry cleaner was burned to the ground. The National Guard was called in, and peace was quickly restored. Mom found a good job with a trucking company and was able to adequately care for our family on a union wage fought for by the Teamsters in an environment supported by the National Labor Relations Act of 1935.

    I went to college with the help of Pell Grants and government loans. Twenty years ago I met Claiborne Pell and was able to thank the former Democratic senator from Rhode Island for introducing the Higher Education Act of 1965, which allowed me to go to college.

    My business has been made possible by the Investment Company Act of 1940 and the Investment Advisers Act of 1940. These laws created practices and transparency that enabled a financial services industry to emerge. After the stock market collapse of 1929, the public rightly did not trust Wall Street and needed assurances that the industry would operate within a reliable set of rules.

    Nothing in terms of “regulations” or “business uncertainty” has stopped me from investing capital for a return. In fact, the stability that government involvement brought to the capital markets over the past three years, evidenced by a 100 percent increase in the Standard and Poor’s 500-stock index since March 2009, probably enabled my business to survive. The federal government’s back-stopping of money market funds in the fall of 2008 ended, effectively in one day, what was turning into a 1930s-style bank run.

    http://www.washingtonpost.com/opinions/what-i-built--with-government-help/2012/08/17/ecc86b24-e885-11e1-936a-b801f1abab19_story.html?hpid=z2

     
  2. You have chosen to ignore posts from BetheKoolaid. Show BetheKoolaid's posts

    Re: What I built — with government help

    "Last year we launched the Roumell Opportunistic Value Fund (RAMSX) and hired three more people."
    You better hire 5 milllion more, quick, to save Obama's re-eelection, pal..

    The unemployment rate increased in 44 states this month...
    43 straight months of unemployment over 8%....The Government , specifically Obama's policies, helped build that massive failure!
     
  3. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: What I built — with government help

    Sounds like a pretty insecure guy.  And, seeing that government built his company, he is probably just a dumb idiot who got lucky with government money.

    Because, everyone know government did 99% of the work to get him there.  He is just a 1%-er.
     
  4. You have chosen to ignore posts from beKool. Show beKool's posts

    Re: What I built — with government help

    Bet he is the only one huh kids ?
     
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  6. You have chosen to ignore posts from beKool. Show beKool's posts

    Re: What I built — with government help

    In Response to Re: What I built — with government help:
    So what's the business that this person built? Did I miss it? What does he do, sell ideas to liberals with government money for a great price? Maybe I didn't pay close enough attention to the article. As any liberal suk up story it all fades into one.
    Posted by TFefio


    Kid you miss alot of things.
     
  7. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: What I built — with government help

    In Response to Re: What I built — with government help:
    Bet he is the only one huh kids ?
    Posted by beKool



    the only one what?  Despite his personal ignorance about his venture, government didn't build it.  He did.  Just because he says government did, doesn't make it so.
     
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  9. You have chosen to ignore posts from beKool. Show beKool's posts

    Re: What I built — with government help

    You kids are a trip. LMLAO
     
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