Originally Posted by A.Nonymous
You do realize that those earning $250k a year didn't just wake up and find themselves there. They worked to get there. Was some of it being in the right place at the right time? Sure. But you don't earn that much a year while simultaneously being a complete moron. If you're stupid, it'll catch up to you. Why should they not be entitled to the fruits of their labors?
Romney got started with "bust out" financing from Michael Milken. Romney took no risk, money invested in takeover companies was soon repaid by taking on debt to pay Romney for the investment, plus fees. The companies were then forced to cut wages, benefits and workers to make debt payments. These tactics often hollowed out the company which resulted in bankruptcy with the government forced to cover the gutted pension funds. Romney always got his money upfront.
Romney is not a businessman, he shifts wealth from companies and workers to his bank account.
"Private equity (PE) is not about creating jobs, itís about creating financial structures that siphon cash from portfolio companies to PE partnersí bank accounts. Thatís the conclusion of an executive who has spent the last decade working for PE-owned companies."