Diplomacy, Bain-Style

Jul 30 2012 @ 11:50am

Paul Krugman adds his thoughts to a Fred Kaplan piece on how Romney's private equity past differs from his predecessors:

[T]he bankers of yore operated by building relationships; Bain made its investors money in large part by breaking relationships, e.g. by walking away from implicit promises to workers. It’s not a style that makes for good diplomacy.

Mitt has been a $250 million virtual dictator in his own bubble for decades. He isn't used to asking people, he is used to telling them. So he told the Brits they were unprepared for the Olympics and he told the Palestinians that their culture is inferior to Israel's. He's like a Bain consultant arriving at a new company each time he visits a new country. Generally speaking, the arrival of a consultant is not a source of great joy among a company's employees. Ditto countries and people.