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Sure, Chris Gabrieli was rich, too, but at least he had a record
By adamg on Sun, 09/20/2009 - 12:17pm
The Outraged Liberal dissects Steve Pagliuca's nascent Senate campaign:
... Unlike Chris Gabrieli, another multimillion candidate of years past, Pagliuca does not even have a record of laboring in the wonk trenches, tackling issues like education.
Rather Pagliuca presents as the ultimate dilettante. His bid to join Jack Connors in buying the Boston Globe rejected, he appears to have turned his attention to another toy to purchase for his personal sandbox. ...
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Comments
Yep
Plus the guy is just dishonest. Don't fund Romney's 94 campaign against Kennedy and then tell me you're Kennedy's heir. Fuck off, Moneybags.
how you profit matters
C'mon we need more Republican MBA senators.
If you only knew how private equity uses leverage (borrowing) to acquire and control business, squeeze out costs including labor and benefits, and squeeze out returns on their investment even when it means taking the business apart and leaving it bereft of a future.
Private equity? They profit enormously. Everyone else? Not so much.
The balance of power between those who control capital and those who labor is an age-old conflict. And while the private equity business model is not illegal and while I don't blame them for engaging in it, it is enormously unfair to the people who lives are fucked over for their profit. Mostly... I don't want a private equity privateer representing me in Washington and making public policy.
Steve Pagluica and Martha Coakley have two things in common. Neither has any experience as a legislature, and nether is going to reign in big-money interests so that they cannot engage in big-profit finance opportunities that put our markets and labor class at risk.