Photo: Jack Duval via flickr
Today, The Daily Pennsylvanian reports that despite the beating Mitt Romney and his former profession have taken recently, Wharton students are quick to offer support for the private equity industry. (ht/ to Dealbreaker)That support is less than surprising coming from business school students, many of whom go on to seek employment in the industry.
But the zeal demonstrated in the informative. First-year MBA student Daniel Pang provides some great quotes in the piece, most eager, some woefully misinformed and grating:
“What Mitt Romney and many private equity firms do … is not different from what Warren Buffett does…It’s pretty much just investing in companies.”
“[Romney] might be really wealthy, but he’s made exponentially more money for other people.”
“The industry grew a lot in the early 2000s..It’s an attractive career path.”
Unlike the public, students, “especially in business schools like Wharton, get a more balanced opinion of private equity]…”
“Sometimes, for a company to operate most efficiently… it’s not the worst thing if some people ended up losing their jobs…A lot of times, that’s very beneficial for companies.”