AuthorTopic: Meet Mr. Privatization  (Read 333 times)

Offline Eddie

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Meet Mr. Privatization
« on: November 30, 2016, 07:49:55 AM »
Wilbur Ross is the new billionaire Commerce Secretary.

Lets's see. LBO specialist, expert in taking over distressed companies using cheap borrowed money, firing large numbers of people, and at least in one case, using bankruptcy protection to bust the union. He founded the International Coal Group and took it public.

His cost-saving measures might have had a lot to do with the Sago Mine Disaster, in which 12 coal miners lost their lives, after his company was cited for safety violations at the mine 208 times in a year.

When Rudy Giuliani was mayor of NYC, Ross served as his "privatization adviser"

Yale.....frat brother of Jon Corzine, Larry Fink, Paul Todor Jones and Michael Bloomberg.

Here's an interesting tidbit:

In the late seventies, Ross began twenty-four years at the New York office of Rothschild Inc., where he ran the bankruptcy-restructuring advisory practice. In the eighties, after quickly expanding the reach of Resorts International to Atlantic City, Donald Trump found himself in financial trouble as the real estate market in New York City bottomed-out. His three casinos in Atlantic City were under threat from lenders. It was with the assistance and assurance of Ross, then senior managing director of Rothschild Inc., that Trump was allowed to keep the casinos and rebuild his businesses.[7] In the late nineties, Ross started a $200 million fund at Rothschild to invest in distressed assets. As the U.S. bubble began to burst, he decided he wanted to invest more and advise less. On April Fools’ Day 2000, the 62-year-old banker raised $450 million to plunge into fallen companies.[3]

Another outsider. Right.

By my count, that's four billionaires in the cabinet so far.

https://en.wikipedia.org/wiki/Wilbur_Ross

What makes the desert beautiful is that somewhere it hides a well.

Offline jdwheeler42

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Re: Meet Mr. Privatization
« Reply #1 on: November 30, 2016, 09:31:46 AM »
Another outsider. Right.

By my count, that's four billionaires in the cabinet so far.
You see, Trump does represent a radical change in American government....

from representative oligarchy, to direct oligarchy.

The billionaires are ready to take direct control of the government, instead of just buying politicians.
Making pigs fly is easy... that is, of course, after you have built the catapult....

 

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