Solamere Capital offered to help fund the auto-industry managed bankruptcy … just like Bain Capital!
Ah. Well, now we know what Romney has in mind when he says that GM and Chrysler didn’t need federal bailout funds in late 2008 and early 2009 in order to undergo bankruptcy reorganization rather than be forced to liquidate, because there was private-equity funding available for that purpose. Solamere Capital and its Rolodex of potential investors were available to provide the funding, but, stupidly, no one from the Obama administration thought to contact them.
Anyway, I can’t wait to hear the statistics on how many jobs Tagg Romney created!
(NOTE: This entire post, including its title, is intended as facetious.)
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Dallas angel investor
Not many people know that Solamere Capital offered bail out assistance. Thanks for sharing this post, I’m going to email it to some colleagues.