TRADITIONAL
CAPITALISM:
You have two cows. You sell one and buy a bull. Your
herd multiplies, and the economy grows. You sell them and retire on
the income.
AMERICAN CAPITALISM:
You have two cows. You
sell three of them to your publicly listed company, using letters of
credit opened by your brother-in-law at the bank, then execute a
debt/equity swap with an associated general offer so that you get all
four cows back, with a tax exemption for five cows. The milk rights
of the six cows are transferred via an intermediary to a Cayman
Island company secretly owned by the majority shareholder who sells
the rights to all seven cows back to your listed company. The annual
report says the company owns eight cows, with an option on one more.
You sell one cow to buy a new president of the United States, leaving
you with nine cows. No balance sheet provided with the release. The
public buys your bull.
...
Читать дальше »
