Hat tip to MSNBC’s Chris Hayes for writing our headline for us this morning on his program UP w/ Chris Hayes.Hayes spoke with Business Insider‘s Joe Weisenthal about Mitt Romney, private equity, and the concept of tax arbitrage, which is central to the fat profits pocketed by private equity firms.
“One thing about private equity is it benefits tremendously from the favourable legal stance toward debt,” said Weisenthal. “The great thing about Mitt Romney, were he to become president, is his whole career is a testament to the wonders of debt.”
Hayes offered the chart seen above, which drew gasps from his other guests.
Weisenthal added that the U.S. government currently benefits from extremely low borrowing rates. These low borrowing rates are probably something Romney would perk up to.
“Hopefully if he wants to take his lessons that he learned in private equity and apply it to the U.S. government, that would be the big lesson I hope he takes,” said Weisenthal.
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