White House Worked With Buyout Firm to Save Plant
by The Compliance Exchange on August 22, 2012
Since the spring, President Barack Obama’s re-election campaign has repeatedly hit Mitt Romney for his career as a private-equity executive and has aired ads accusing his former firm, Bain Capital, of ruining businesses and sending jobs overseas.
At the same time, the Obama White House played a central role in encouraging another private-equity firm to rescue a Philadelphia oil refinery, whose imminent closure by owner Sunoco Inc. SUN -0.09% threatened to send gasoline prices higher before the election.
Read Full Article At WSJ
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