Good Selection on Private Equity

This is a great article by Reihan Salam about Private Equity.  Rubicon Alliance doesn't endorse any suggestion or recommendation of products that may be in in this article rather as a general discussion piece about current trends in the market place and a general topic for our followers.

Every presidential candidate has to defend himself against accusations of wrongdoing — an affair, abuse of office, campaign-finance impropriety, and so forth. Mitt Romney finds himself in a predictable defensive crouch, too, but the allegation against him is extraordinary: He stands accused of doing his job too well.

As the founder and CEO of the private-equity firm Bain Capital, Romney was a turnaround artist. In that role, the GOP frontrunner says, he restored failing firms to health, usually with great success. He claims to have helped create thousands of new jobs and billions of dollars in new wealth.

Some of Romney’s Republican rivals, particularly Newt Gingrich, haven’t framed Romney’s record in such generous terms. They say Romney was a “vulture capitalist” who used financial chicanery to enrich himself and his cronies at the expense of helpless workers. President Obama and his allies will surely make the same case in the months to come. Indeed, a recent memo from Stephanie Cutter, the president’s deputy campaign manager, accuses Romney of having sought “profit at any cost,” and of believing in “an economy where the wealthy and powerful can rig the game at the expense of working Americans.” Romney’s verbal gaffes, including an ill-considered soundbite professing his love of “being able to fire people,” have made him vulnerable to more demonization still.

After his victory in New Hampshire’s primary, Romney fought back with unusually strong words. “President Obama wants to put free enterprise on trial,” he said, adding that “we have seen some desperate Republicans join forces with him.” But Romney was only partly right. The plaintiffs against free enterprise are not just a handful of politicians, but a growing number of American voters who think corporate elites have jeopardized a social contract that once guaranteed, as Bill Clinton put it, that “if you work hard and play by the rules, you ought to have a decent life and a chance for your children to have a better one.”

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