A few weeks ago, a top official at the Securities and Exchange Commission reported on what he called a “remarkable” amount of potentially illegal behavior in the private equity industry—aka the industry that buys up, changes and sells off smaller companies.
The footage was shot during a fundraiser at the home of Marc Leder, a hedge fund manager known for throwing pretty lascivious affairs in the Hamptons, N.Y. We’re talking about parties that involve sex, but not the kind intended for the purpose of planting a zygote in the womb, thereby going against a core conservative value and basically everything Republicans stand for.
Questions about Republican presidential nominee Mitt Romney’s record at Bain Capital are not likely to go away any time soon, especially now that it’s been revealed that Bain is among a number of major private equity firms under investigation by the New York state attorney general’s office for tax-related reasons.
These tough economic times have ganged up on the poor, homeowners, investors, students and immigrants. And now comes word that even Harvard and Yale, among the wealthiest schools in the world, have suffered dramatic losses in their endowments over the past year.