Gingrich’s Own Close Tie to Buyout Industry

Discussion in 'Politics' started by Matthew, Jan 9, 2012.

  1. Matthew
    Online

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,787
    Thanks Received:
    4,615
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,252
    Gingrich’s Own Close Tie to Buyout Industry
    NY Times Blog ^ | January 9, 2012 | By PETER LATTMAN and JIM RUTENBERG



    Newt Gingrich has ramped up his attacks on Mitt Romney as a heartless leveraged buyout executive for his years at Bain Capital, asking reporters in Manchester on Monday, “Is capitalism really about the ability of a handful of rich people to manipulate the lives of thousands of other people and walk off with the money? Or is that, somehow, a little bit of a flawed system?”

    But Mr. Gingrich was himself on an advisory board for a major investment firm that had a similar business model, Forstmann Little, a pioneering private equity firm co-founded in 1978 by Theodore J. Forstmann that was, along with Mr. Romney’s Bain Capital and Henry R. Kravis’s Kohlberg Kravis & Roberts, among the leading private equity firms during the 1980s and 1990s.

    Forstmann Little earned billions of dollars in profits from its investments in companies including General Instrument and Gulfstream Aerospace. But the firm shut down most of its operations a decade ago after suffering losses from ill-timed bets on high-flying telecommunications companies at the height of that industry’s bubble.


    (Excerpt) Read more at thecaucus.blogs.nytimes.com ...

    Gingrich's Own Close Tie to Buyout Industry - NYTimes.com
     
    Last edited: Jan 9, 2012
  2. occupied
    Offline

    occupied Gold Member

    Joined:
    Nov 8, 2011
    Messages:
    16,481
    Thanks Received:
    2,256
    Trophy Points:
    280
    Ratings:
    +5,796
    If you want to get rich without working or coming up with fresh ideas (idea man LOL) you have to screw someone.
     
  3. Matthew
    Online

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,787
    Thanks Received:
    4,615
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,252
    All the presidents of the past 50 years have screwed this country. Bush Screwed America, Obama screwed America...I'm sure everyone besides maybe paul will end up screwing this country in someway.
     
  4. occupied
    Offline

    occupied Gold Member

    Joined:
    Nov 8, 2011
    Messages:
    16,481
    Thanks Received:
    2,256
    Trophy Points:
    280
    Ratings:
    +5,796
    Paul would screw us with his own special blend of social Darwinism and his self invented political dogma.
     

Share This Page