According to Steve Schwarzman (billionaire/head of The Blackstone Group) Obama's intent to impose higher taxes on private equity firms is akin to the Nazi invasion of Polland.
I see the similarities.
Poland frequently bought up other companies, drained their equity and then forced them into bankruptcy.
Bernie Madoff was probably a Pole.
Poland was using tax credits against borrowed money which was in turn used to push formerly solvent companies into bankruptcy.
Poland was clearly abusing the bankruptcy system while driving companies into insolvency.
The Polish were guilty of utilizing a tax break on interest expense while buying and selling companies and laying off thousands of people.
Countless times the Polish government bought viable companies, then loaded it up with debt which in turned caused the demise of the company that was acquired.
Poland overvalued ‘Private Equity’ acquisitions on its books a.k.a. Enron.
Links Here:
The American Prospect
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