nadezhda - In private equity, the first rule is “the last...

Peripatetic commenter on US foreign policy, financial system matters, and misc observations on politics, economics, media and good books

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In private equity, the first rule is “the last money in sets the rules”. The guy bringing money to the table when no one else will, in this case the US government, gets to rewrite the rules.

— William Neuhauser
commenting on auto bailouts
in “Obama’s New Capitalism”
by Marc Ambinder @ The Atlantic - Politics