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Thursday, October 27, 2016

Mostly absent from the ongoing debate over the private equity  industry is any realistic assessment of its actual history. Its loudest defenders ignore the dark uses of planned bankruptcy, state subsidy, and tax avoidance by firms like Bain Capital to maintain superprofits. Without criminal violence and extortion, such conduct can be perfectly legal.

But in fostering growth – or creating jobs – it isn’t clear “just how this predatory style differs from what the mob used to call a bust-out scheme,” as observed here last January. To lillustrate the parallels, listen to these classic Mafia characters describing their traditional business practices in plain language:

Via The Huffington Post

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Copyright 2012 The National Memo
  • montanabill

    Good Lord! I didn’t think Conason could get anymore ridiculous than some of his recent previous columns, but I was wrong.

    • ObozoMustGo

      Right on, montana. By the way, great exchange with Murphy yesterday.

      Have a nice day and a great Memorial Day weekend!

      • I thought you right-wingers had a sense of humor or irony. Oh I forgot that’s only when it’s used against President Barrack Hussein Obama.

  • William Deutschlander

    The Bain Capital type vultures contribute nothing of value to the ECONOMY, the fact is they extract capital from the ECONOMY, the partners then diviy up the extracted funds and place them in offshore, tax haven, personal accounts, they are PREDATORS!
    In truth they are on a par with the gangsters creating nothing of value!

  • You Romney have never lived as ordinary person. You were a son of a millionaire-Governor; you never took buses and public transport; you have had escorts around as a son of Michigan Governor; yet, you still want take away support from poor people and give to the rich? What is he thinking? Just power-grabbing? Very very wrong for you-Romney to bully classmates-shaving their hairs, fire bread-winners, bully-torture dogs, file for unnecessary bankruptcy, cheat on taxes, call poor people lazy, wish Detroit goes bankrupt, get riches from Michigan but shift the money to Cayman Island, Swiss Banks, support millionaires and billionaires but bash ordinary people, planning to deny women and children their healthcare, and now running for president in order to favour Donald Trump and Karl Rove. These are evil that ordinary people do not deserve in America.

  • ObozoMustGo

    Joe, you’ve hit rock bottom with your posts in the past few weeks, but I see that you’ve started to dig again! Really, Joe, have you become so lazy that you have to start lifting hit-pieces off of the HuffPo? What’s the matter, the Obozo campaign and propaganda machine take you off the insiders list for a while? Granted, it’s funny, but for a supposed “journalist” to put up something as sophomoric as this, well, that’s pretty lame, Joe.

    To all my lefty and righty friends at The Memo,

    Have a nice day and a great Memorial Day weekend as we honor those who have given the ultimate sacrifice for the freedoms we share in this greatest nation on God’s green earth!

  • So, basically Mitt Romney made “MUCHO DINERO” mafia style and increasing the unemployment rate…

  • So, basically Mitt Romney made “mucho $dinero$ mafia style and increasing the state’s unemployment rate. wasob…

  • Very nice, but there is one more step that the Sopranos usually take. Hopefully Mitt wouldn’t do that!

  • ObozoMustGo


    Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape. He will be remembered as having cultivated such valuable lessons as:

    – Knowing when to come in out of the rain;
    – Why the early bird gets the worm;
    – Life isn’t always fair;
    – And maybe it was my fault.

    Common Sense lived by simple, sound financial policies (don’t spend more than you can earn) and reliable strategies (adults, not children, are in charge).

    His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened
    his condition.

    Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children.

    It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.

    Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims.

    Common Sense took a beating when you couldn’t defend yourself from a burglar in your own home and the burglar could sue you for assault.

    Common Sense finally gave up the will to live, after a woman failed to realise that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement.

    Common Sense was preceded in death,
    -by his parents, Truth and Trust,
    -by his wife, Discretion,
    -by his daughter, Responsibility,
    -and by his son, Reason.

    He is survived by his 5 stepbrothers;
    – I Know My Rights
    – I Want It Now
    – Someone Else Is To Blame
    – I’m A Victim
    – Pay me for Doing Nothing

    Not many attended his funeral because so few realised he was gone.

    If you still remember him, pass this on. If not, join the majority and do nothing.

    Have a great Memorial Day weekend! Remember, we are the land of the free because of the brave.

  • You don”t have a clue what private equity is or does. Romney is Republican and let the rant flurry to stupidity. Bain Capitial had a 85% success rate in job creation-Obummer spending billions in taxpayers money still batting zero with 17 trillion national debt. If Obama gets another 4 years, we will speaking Chinese with a Hispanic dialect.

    If you were a millionaire, Obama could tax the h.. out of you so you could spread the wealth to people you don’t even know and those receiving hands that cheat the system.

    Our prosperity helps government grow, it’s not you, it’s not me.