Longread #149 -- Greed and Debt -- 9/11/12

As the presidential campaign heats up after the conventions, the Obama camp has continued to hit Romney hard about his history at Bain Capital. This piece from Matt Taibbi goes even further and deeply calls into question the concept of Romney as a "turnaround specialist." Instead of using wise management to help companies become profitable, private equity firms like Bain instead saddled companies with excessive amounts of debt while reaping huge rewards through bonuses and management fees. This longread doesn't question that Romney is a shrewd businessman; instead, it demonstrates that his shrewdness meant huge profits for him paid for predominately by the loss of middle-class jobs.

"Greed and Debt: The True Story of Mitt Romney and Bain Capital" by Matt Taibbi
Published in Rolling Stone, September 13, 2012
http://www.rollingstone.com/politics/news/greed-and-debt-the-true-story-of-mitt-romney-and-bain-capital-20120829?print=true

Eric