thanks
there are some private business owners here and there on the forum
finance guys and what not
bnblflag (RIP) was a bank president in East Texas
but most freepers don’t much about business really...especially finance and going public and debt offerings and all that
most here just ape what Rush says or Levin or FOX
Yes, we have been inundated by the idea that anything done by a business is covered by the word ‘capitalism’ and therefore is beyond criticism.
IMO this opinion is held in inverse proportion to actual experience in the world of finance versus a lot of flighty, high-minded philosophizing. I’d like to have Rush or Levin explain away some of the fierce lawsuits between businesses that I’ve been caught in- I mean wasn’t everybody involved just Doing Capitalism?
Well no, actually some were brazenly ripping everyone else off, and unless you have deep enough pockets to fight back they will succeed in stealing you blind and/or driving you right out of business. And this is just the behavior that is blatantly illegal, it says nothing about unethical behavior that is legal but which loots stockholders and other stakeholders.
Your elaboration of the different activities of Bain was well done. As a venture capitalist taking a risk on a new company it was an admirable firm. As an LBO artist taking a position that entailed no risk, enriching itself by selling off assets and loading its acquisition with debt, it wasn’t admirable at all.
For the 1% rich that buy and sell politicians to protect their wealth racket this will be a most interesting election.