The New York Times this week has a fascinating profile on Edward Conard, an extremely wealthy man who used to run a private-equity firm you’ve probably heard of. It’s called Bain Capital. He’s now one of Mitt Romney’s most generous campaign donors.
There’s quite a bit in the piece, but the part that’s hard to get over comes in the last paragraph: “At base, having a small elite with vast wealth is good for the poor and middle class. ‘From my perspective,’ [Conard] wrote, ‘it’s not a close call.’”
The quote made for some worthwhile conversation between Rachel and Paul Krugman last night.