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View Diary: Mitt Romney's Bain Capital took $20 profit for every dollar invested in Ampad. Creditors got $0.002. (109 comments)

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  •  Read "Barbarians At The Gate" (2+ / 0-)
    Recommended by:
    Words In Action, Lying eyes

    It's a bit dated, but still relevant.

    It gives the inside details on how these kinds of financial details are done.

    The exact situation isn't the same as Bain's predatory activities, but the same types of people and personalities are involved, and it's both fascinating and depressing to see how huge, weighty decisions that affect hundreds or thousands of people turn on the interactions of egos and people trying to show who has the biggest dick in the boardroom.

    It's also very telling to see how little thought is given to the actual underlying business activity; it's all spreadsheets and estimations/guesses on cash flows, interest rates, etc.

    BatG was written as a cautionary tale, but what has happened in the intervening decades dwarfs the hubris and deal sizes described in that book.

    "When and if fascism comes to will not even be called 'fascism'; it will be called, of course, 'Americanism'" --Professor Halford E. Luccock of Yale Divinity School; New York Times article from September 12, 1938, page 15

    by demongo on Mon May 21, 2012 at 10:24:05 AM PDT

    •  trying to show who has the biggest dick (0+ / 0-)

      Kinda tough on the people who show up with a vagina instead of a dick, huh?

      Without geometry, life is pointless. And blues harmonica players suck.

      by blindcynic on Mon May 21, 2012 at 12:35:49 PM PDT

      [ Parent ]

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