Bipartisan Support for Romney's Business Past Should Scare Us All
Continued from previous page
So I wasn’t surprised when current and former politicians defended private equity. And none of us should be surprised by what Romney and the PE guys will do, if in addition to controlling six of the ten largest employers in the country , they take control of the White House. The only way to stop them is to become more financially literate and demystify how these guys really make their riches and the consequences for the rest of us. Looking more deeply at the PE business models, their tax breaks, “dividend recapitalizations”, “club deals” and all the other ways they manipulate markets and disadvantage the rest of us is critically important if we believe in addressing growing political and economic inequality, and rebalancing the economy of the country.
But more importantly, I hope that as we better understand the dangers of the private equity model, we can figure out how to stop a leveraged buyout of the White House.
Stephen Lerner is a labor and community organizer and the architect of the Justice for Janitors campaign.