The Leveraged Buyout of the United States

Mitt Romney bought companies through LBOs: borrowing the purchase price using the target company itself as collateral, then selling off the profitable parts and cutting loose employees to turn a profit. Now he’s pretending to have votes polls say he doesn’t have, trying to convince undecided voters who want to back a winner to climb aboard his ersatz winning horse. It’s the attempted leveraged buyout of the United States.

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