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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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From left Ethan Crumbley and his parents Jennifer and James Crumbley

Mug shot photos from Oakland County via Dallas Express

After the 2012 massacre at an elementary school in Newtown, Connecticut, then-Rep. Mike Rogers, a Michigan Republican, evaded calls for banning weapons of war. But he had other ideas. The "more realistic discussion," Rogers said, is "how do we target people with mental illness who use firearms?"

Tightening the gun laws would seem a lot easier and less intrusive than psychoanalyzing everyone with access to a weapon. But to address Rogers' point following the recent mass murder at a suburban Detroit high school, the question might be, "How do we with target the adults who hand powerful firearms to children with mental illness?"

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Gen. Charles Flynn

Reprinted with permission from DailyKos

A former D.C. National Guard official blasted the Pentagon inspector general’s report on the military’s response to the January 6 attack on the U.S. Capitol and directly accused two top generals of lying about their role in the delays deploying the National Guard that day. Previously, the former commander of the D.C. National Guard—who now serves as the House sergeant-at-arms—had called for the retraction of the same inspector general’s report.

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