[lbo-talk] we had a scheme where the rich got richer...

[John Thornton]

Doug Henwood forwarded:
> Los Angeles Times - December 16, 2007
> <http://www.latimes.com/news/printedition/front/la-na- 
> mittbain16dec16,1,893755,full.story>
>
> To assess Romney, look beyond the bottom line
>
> His record is more complex -- and more controversial.
>
>  From 1984 until 1999, Romney led Bain Capital, a Boston-based  
> private equity group that earned jaw-dropping profits through  
> leveraged buyouts, debt hedge funds, offshore tax havens and other  
> financial strategies. In some cases, Romney's team closed U.S.  
> factories, causing hundreds of layoffs, or pocketed huge fees shortly  
> before companies collapsed.

It's a family trait.
Were it not for his father George we might still have Nash, Hudson, 
Packard, & Studebaker as part of a big 4 instead of a big 3.
They would have at least survived longer than they did were it not for 
his ego.

John Thornton