So, I was amazed to hear Mitt Romney describing himself as having “come through small business”, as if his private equity firm were just like a mom-and-pop store or something. But Digby informs us that he made similar claims in his convention speech, making Bain sound like a scrappy little start-up. And it’s true it had only 10 people at first — that, and $37 million, yes, $37 million, in seed money.
Where did that $37 million come from? A large part from foreigners, in many cases investing via Panama-based shell companies. Also, funds from families of Central American oligarchs, who were sitting things out in Miami whiledeath squads sponsored by their class, and in some cases by their relatives, were roaming their home countries.
Hey, doesn’t this sound like just your usual small-business success story?