The PE industry's bread and butter -- using lots of debt to buyout companies (LBOs), take them over, and sell them a few years later at a huge profit -- is taking a back seat to PE's new strategy of betting on the stock market.
We don't know how much was in that account. We do know it barely amounted to pocket change for Cerberus, which stands to profit handsomely from the wind-down of World Airways and the sale of assets from a sister airline.
Standing in Legoland in 2011, fulfilling a promise to my then eight-year-old son William, it hit me. Practically every time I'd opened my wallet that day, it had been to a company owned by private equity. Even on vacation, I couldn't escape.
Modern American capitalism is rife with sophisticated financial intermediaries who exploit flaws and complexity in the system, as well as insider connections, to make profits off of predatory behavior -- which brings us back to why the attacks on Bain Capital are both accurate and fair.
Over the last two decades the system has become lopsided so as to leave the 99 percent feeling helpless and hopeless. Meanwhile special interest groups continue to rig the system disproportionately in favor of the 1 percent.
Mitt Romney's career as a candidate tells us little more than that he can be all things to all people. We have to look elsewhere than Bain Capital to make a well-reasoned decision about Romney's qualifications for president.
As the congressional super committee looks for $1.5 trillion in deficit reduction, Republicans on the Senate Finance Committee urged repeal of President Obama's health care reform. The truth is that Republicans are playing a two-sided game over repeal. Here's how.