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Sunday, July 07, 2013

 

This is what "Crony Capitalism" looks like: How Terry McAuliffe got rich

Example of information you will not find in the Virginian Pilot. 

Ten years ago, McAuliffe turned a $100K stock buy into $18M thanks to his relationship with the CEO of Internet firm Global Crossing. Shortly thereafter the company went bankrupt, the stock price collapsed and 10,000 employees lost their jobs.

This was not the only questionable deal he was associated with. But it was part of a pattern in his business life of using insider connections that made him very wealthy.
This was written in 2009, the first time McAuliffe had his eye on the State House.  Since then he has battened his bank account using his political connections at the top of the Democrat party money-raising pyramid.   

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