Saturday, October 20, 2012

Tagg Team: The Romney Family Recipe for Crony Capitalism | The Nation

 Unlike most private equity firms dedicated to analyzing and buying companies, Solamere specializes in something else: billing itself as a “fund of funds” with “unparalleled networks,” it provides investors with “unique access” to an elite set of other private equity firms and hedge funds. Sun Capital Partners, the fund founded by Leder, is one of at least thirteen Romney-linked firms. 
Solamere, a firm predicated on its founders’ relationship with Romney, presents a channel for powerful investors to influence the White House if he wins.
Many of these businesses, in fact, depend on government contracts; indeed, some have been accused of fleecing taxpayers (which is ironic given that many private equity titans claim to support Romney for his unabashed belief in small government and free enterprise). A Romney administration could directly affect the profitability of these companies—and, by extension, potentially the success of Tagg Romney's venture.
Tagg Team: The Romney Family Recipe for Crony Capitalism | The Nation

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