Buyout Billionaires' Recession-Proof Secrets Revealed

Posted by Robert Greenwald, Brave New Films at 9:19 AM on May 6, 2008.

How is it possible for us to be entering a recession while buyout billionaires like Henry Kravis saved $96 million through tax loopholes in 2006 alone? That's just one buyout billionaire, in one year, making use of one loophole! Just think how much these private equity crooks are costing taxpayers who are already battling financial hardships and home foreclosures.

Our earlier War on Greed films garnered over 350,000 views and a lot of attention from The New York Times, The New Yorker, and The New York Post, not to mention the Private Equity Council. Such wonderful feedback made us realize that now is a crucial time to connect the dots between buyout billionaires and everyday Americans suffering through this recession. And in talking with many of you, we thought a short, animated video could be a great means of conveying the gross misconduct of Henry Kravis, KKR, and the policies of buyout exploiters. So Paris, Lee Stranahan, and the team went to work to bring you our first animated video.

Now for the serious part. Join over 18,000 people who have already signed our petition demanding our presidential candidates close the Henry Kravis tax loophole. Then, please send this film along to ten people. Make sure Larry the Loophole is seen by friends, relatives, and schoolmates through Facebook, MySpace-the works! We already started spreading our message yesterday outside the Waldorf-Astoria Hotel in New York, when we joined the SEIU to present Kravis with the "Loophole of the Year" Award.

Last week, journalist David Sirota wrote, "As the facts trickle out about the private equity scam, you can bet public pressure for change is going to start building." Yes, we've presented the facts here with animated satire and humor, but our hope is that this will allow us to reach tens of thousands of people together.

By the way, our Condi Must GO video was a smashing success. Not only was it the #1 Video on YouTube News and Politics, but we received over 70,000 signatures for our petition. However, we still need more to reach our goal. Help us send Condi packing by sending Condi Must GO to all of your friends to sign.

Tagged as: henry kravis