Scandalous Mitt Romney video at a private fundraiser at the home of controversial private equity manager Marc Leder in Boca Raton on May 17, 2012. Full video recording of the event via Mother Jones
Private equity playboy Marc Leder has a reputation for throwing wild sex parties at his Hampton’s home where guests skinny dipped in the pool and performed sex acts, while hot Russian women danced on platforms. He has been partying on ever since his wife of 22 years, Lisa, divorced him after she admitted to having an affair her their children’s tennis instructor.
Years ago, a visit to Mitt Romney’s investment firm inspired Mr. Leder to get into private equity in the first place. Mr. Romney was an early investor in some of the deals done by Mr. Leder’s investment company, Sun Capital, which today oversees about $8 billion in equity. Leder has been doing leveraged buyouts and investment banking for more than 25 years. His previous experience includes working as a senior vice president at Lehman Brothers
Mr. Leder personifies the debates now swirling around this lucrative corner of finance. To his critics he represents everything that’s wrong with this setup. In recent years, a large number of the companies that Sun Capital has acquired have run into serious trouble, eliminated jobs or both. Since 2008, some 25 of its companies—roughly one of every five it owns—have filed for bankruptcy. Among the losers was Friendly’s, the restaurant chain known for its Jim Dandy sundaes and Fribble shakes. (Sun Capital was accused by a federal agency of pushing Friendly’s into bankruptcy last year to avoid paying pensions to the chain’s employees; Sun disputes that contention.) Another company that sank into bankruptcy was Real Mex, owner of the Chevy’s restaurant chain. In that case, Mr. Leder lost money for his investors not once, but twice.
Scandalous Mitt Romney at a private fundraiser at the home of controversial private equity manager Marc Leder in Boca Raton on May 17, 2012. This is evident from references made by Romney within the full video recording of secret video of Romney’s remarks, we were obliged to not reveal details regarding the time and place of the event. That restriction has been lifted, as the story has garnered attention throughout the media.
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