All about the private equity scam… by Robert Reich

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 Ok, so many times when I get into political discussions with some of my euro-pals, I get questions about how plutocrat fat-cats like Mitt Romney got so damn rich in the first place. Well for one thing, it surely helps to have a rich dad. Hucksters like Romney, and even the scummiest of them all Donald Trump both did. Mitt was able to parlay his fortune however, by playing the classic money game called “Private Equity Funding”.

It all sounds on the up and up, but don’t be fooled. It’s a classic scam that allows greedy scumbags to make a business of exploiting perfectly good and profitable companies for their own selfish gain. Usually at the expense of their workers, and Joe Taxpayer.

One of the reasons I’m posting this, is to have a convenient link to send friends to when the subject arises, as it inevitably will in this election year. Another reason is because it is by far, one of the clearest, succinct, and factual explanations about the subject I have yet to see. Well done, Dr. Reich. 

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