Thursday, September 27, 2012

It's only a harvest boom

Not an earthshaking revelation, but another chip off the myth that private equity has anything to do with job creation. In this 1985 clip, where he's pitching investors Romney makes clear Bain was about harvesting profits.

Unsaid, but understood, by harvesting he means, bleeding the company dry of assets and walking away with all the money.

[More posts daily at the Detroit News.]

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