BLOCKBUSTER piece in Boston Globe details Romney's association with Michael Milken

[kpete]

Mitt and the junk bond king

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Romney, the famously cautious investment manager, embraced the philosophy of Milken, the embodiment of the high-flying 1980s. Romney, according to his former partners, viewed Milken not just as someone who built up piles of cash, but also as an innovator whose deals could force bloated companies to become leaner, more efficient, and more profitable.

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The “glorious” part, for Romney at least, was that he used junk-bond financing to turn a $10 million investment into a $175 million profit for himself, his partners, and his investors. It marked a turning point for Romney, according to Marc Wolpow, a former Drexel employee who was involved in the deal and later was hired by Romney to work at Bain Capital.

“Mitt, I think, spent his life balanced between fear and greed,” Wolpow said. “He knew that he had to make a lot of money to launch his political career. It’s very hard to make a lot of money without taking some kind of reputational risk along the way. It’s just hard to do. It doesn’t mean you have to do anything illegal or immoral, but you often have to take reputational risk to make money.”

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...what distinguishes this deal from the nearly 100 others that Romney did over a 15-year period was his close work with Milken’s firm, Drexel Burnham Lambert Inc. At the time of the deal, it was widely known that Milken and his company were under federal investigation, yet Romney decided to go ahead with the deal because Drexel had a unique ability to sell high-risk, high-yield debt instruments, known as “junk bonds.”

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Mitt Romney's experience at Bain is exactly what disqualifies him for the office of president.
- bbb

MORE:http://www.boston.com/news/politics/articles/2012/06/24/the_story_behind_mitt_romneys_work_with_michael_milken_it_was_fun_while_it_lasted/?page=1
http://www.dailykos.com/story/2012/06/24/1102677/-BLOCKBUSTER-piece-in-Boston-Globe-details-Romney-s-association-with-Michael-Milken

[firehorse]

1. my bf worked a koch bros event in the hamptons, these people loved Milkin

this was before the koch bros were commonly known

[freshwest]

3. Thanks for the insight there.

[dixiegrrrrl]

2. "spent his life balanced between fear and greed"

I think it is the fear that people are picking up on, in the guts.
I can see it clearly in him, borders on desperation.
Greed is simply another manifestation of fear.
Almost feel sorry for the guy.

[aint_no_life_nowhere]

5. Fear and greed - what better two qualities for a President to have

Romney is such a wonderful role model.

[BumRushDaShow]

4. Boston Globe = owned by NYT = "librrrruuuuullll media"

= it'll probably never see the light of day with the rest of the M$M and this will disappear from the radars of Schieffer, Monkey Boy, Candy Crawldaddy, Stupidfukidous, et al.

[freshwest]

8. You have a gift there! Don't stop, really!

...Candy Crawldaddy, Stupidfukidous, et al.

[marble falls]

6. One's all "Presidential" and the others a convicted felon. Go figure.

[MsPithy]

7. I disagree.

"Mitt Romney's experience at Bain is exactly what disqualifies him for the office of president."

Not for me. It was putting the dog in a crate on the top of the car. And, even if I gave him a pass for that, putting a wet, sick dog in a crate on the top of the car disqualified Romney long before I ever heard about Bain.

Bain, and the high school assault and battery only reinforce the recognition that Romney is a sociopath, totally unconcerned about man and beast.

[zeemike]

10. And I agree that he is a sociopath.

And the way to spot one early is how he treats animals...many criminals sociopaths start out abusing animals...and all the famous ones did.
But think about it from the 1% view...he is perfect....he will do what ever it takes to reward them, as they rewarded him with support...no considerations for people...or animals.

[bluestateguy]

9. We'll wait and see if it has legs

or if it vanishes in the wind as a one day news story.

tap tap....