Craig Eisele on …..

January 19, 2012

Bain and Dirty Tricks Business??

Bain The Betrayer

William Cohan has an interesting take on Mitt Romney, which is completely distinct from the policy and left/right issues. According to Cohan, who did deals with Bain during the Romney years, the company specialized in dirty tricks.

Specifically, Bain would make the high bid for a company being offered for sale — then, after the other bidders had been sent away, would start finding things to complain about, and haggle the price down. This was, I gather, a major sin, since believe it or not Wall Street wheeling and dealing requires a high level of trust in one’s personal word.

This isn’t a policy issue; it’s the kind of thing I usually try to stay away from, the supposedly character-revealing nature of someone’s personal history. But as these things go, it’s especially interesting. Would you buy a used company — or a used ideology — from this guy?

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