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Saturday, September 1, 2012

NY Attorney General Probing...Bain

Top story at NYT now is scoop on the state's tough attorney general probing private equity firms--including our friends at Bain--and their "tax avoidance" stratagies, which are pretty obvious.

Mr. Schneiderman’s investigation will intensify scrutiny of an industry already bruised by the campaign season, as President Obama and the Democrats have sought to depict Mr. Romney through his long career in private equity as a businessman who dismantled companies and laid off workers while amassing a personal fortune estimated at $250 million.

Some executives at the firms said they feared that Mr. Schneiderman, a first-term Democrat with ties to the Obama administration, was seeking to embarrass the industry because of Mr. Romney’s roots at Bain.

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