Friday, May 18, 2012

Wacky China

Good thing nothing like this happens here.

That a dealmaker like Mr. Jiang would be included in an undertaking like that of DreamWorks is almost a given in today’s China. Analysts say this is how the Communist Party shares the spoils, allowing the relatives of senior leaders to cash in on one of the biggest economic booms in history.

Oh. Wait.
Which is why another story in the Times is so interesting: Michael Luo and Julie Creswell explain how Romney's eldest son, Tagg, broke into the private equity business in February 2008, just after his dad quit running for president the first time. Tagg started Solamere Capitol with Spencer Zwick, the top fundraiser for Romney '08. The ties between Tagg's business and Romney's fundraising are extensive. There are the investors: John Miller (an early investor in the firm and national finance co-chair for Romney '08), Scott Frantz (Solamere investor who raised money for Romney '08 and Romney '12), Mark Chapin Johnson (Solamere investor who donated $73,000 to pro-Romney PACs in 2006), Meg Whitman (Solamere investor and national finance co-chair of Romney '08), Matt Blunt (Solamere senior adviser and a former Missouri governor who supported Romney '08). There are the employees: Zwick and Tagg Romney, plus Mason Fink (Zwick's deputy on the campaign who joined Solamre and then left for Romney's 2012 campaign), Laura Coleman (director of donations for Romney '08, then worked for Solamere), Kaitlin O'Reilly (coordinated finance events for a Romney PAC and researched investors for Solamere).