Relevant and even prescient commentary on news, politics and the economy.

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 […]

Steven Rattner Misses the Point (Romney’s and Obama’s) – POSTSCRIPT ADDED 5/16*

Last February, in the lead-up to the all-important Michigan primary, Romney wrote an op-ed piece in the Detroit News titled “U.S. autos bailout ‘was crony capitalism on a grand scale’.”  The dual purpose of the piece was to defend the recommendation he made in a November 18, 2008 op-ed article in the New York Times titled “Let […]

The New York Times confirms that Bain Capital really, really REALLY did not want to lend GM and Chrysler money for their managed bankruptcies. Really.

According to an article in today’s New York Times, Bain Capital was asked to do so, but declined.  Well, actually it was asked to help GM out, and declined. The article recounts much of the controversy concerning Romney’s actual position on a government bailout for the companies back in 2008-09 and his current statements about […]