Coming up on Fareed Zakaria GPS on Sunday at 10 a.m. and 1 p.m. ET: the truth about private equity; what a “Grexit” would look like; and the unlikely case FOR municipal bankruptcies.
First, what really goes on at a private equity firm, and what does that say about U.S. presidential contender Mitt Romney? Fareed speaks to private equity insider and former Obama “car czar” Steven Rattner.
Then, historian Niall Ferguson runs through the likely chain of events that would take place if Greece exited the euro. How would it happen and what would the ramifications be?
In What in the World – there’s been a spate of bankruptcies of American cities. They’re gut-wrenching. But in reality, they may also have a crucial silver lining…
Also on the show, the ousted president of the Maldives on his country’s unrest. And a fun look at the tricks our brain plays on us, with scientist V.S. Ramachandran.
Two Americas indeed, but lets not place blame on each other, but rather on poverty.
rattner, another tiresome propagandist.
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Bankruptcies are primarily caused by increased union demands during the good times.
Why do public unions get full retirement after 20 yrs. it bankrupts cities.
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I am tired of people not thinking things through – even worse when they talk in public, such as on CNN!
So Mitt and pretty much anyone I know from my barber to my doctor use ways to minimize taxes. The law says what you may NOT do, anything else is allowed. Similar to the speeding limit. I may go 35 in a 35 zone, but I may go slower as well. I wonder whether Mr Zakaria has a house and takes that as a deduction, where so many others in this country cannot afford to buy a house and must rent. They cannot get the benefit of this deduction! Critical Thinking ... try it ;)
you could boost cnn's viewing if they dumped their talking heads
same thing applies to Fox and other right wing shows.
There is absolutely no problem with people taking every option that they can to lessen the amount of taxes that they pay... as long as the actions are legal. There should also be no "oh-oh... people aren't going to like this" on the part of a candidate. Romney should not be ashamed of his taxes or how they have been handled. His father wasn't. If Mitt is concerned that he will not be able to explain his tax status to the US people in a way that is understandable, how does he expect to explain his policy with China? India? The EU? Russia? His Dad set the standard for disclosure, was pround of his accomplishments, and wanted there to be no room for questions. Mitt is not doing anyone any good by not following that sterling example.
We have an old saying "the buck stops here". In business this is the CEO. The CEO may hand off operations to a proxy, for instance a COO, however this does not absolve the CEO of responsibility for the actions of the company.
I like Rattner. He is an impressive man! Have him back!
Very Interesting viewpoint by Stephen Rattner. He made a point stating he had checked with other private equity firm managers and could not find anyone who had pushed the envelope as far as Gov. Romney regarding taking advantage of the tax law . First, did he check with other equity managers in the same type industry at Gov. Romney since he said you had to be in certain classes of businesses to take advantage of the tax code? Second, according to Mr. Rattner, Gov. Romney did nothing wrong. Third, Gov. Romney did not write the tax code. Might appear to some that Mr. Rattner is jealous of the excellent advice Gov. Romney received and maybe Mr. Rattner might consider hiring some of Gov. Romney's advisors.
I felt you were very much against Romney and more inclined for Obama what ashame Rommey did nothing wrong everything as far As I know was donek legally. One is called tax avoidance the other tax evasion
In conversations about private equity, one vital point is often neglected: When they buy a Co., they're strapped with funding existing pensions, so they often borrow (pay themselves) and put the Co. in debt. Then they claim bankruptcy which then shifts the funding of the pension plan onto us taxpayer........... It's like magic: abracadabra......no more pension plan to fund; and who cares if lowly taxpayers pic up the tab!
It's a beautiful scam!
I think people are blinded by politics, parties, and plain stupidity. It don't take a rocket scientist to see through all the simple stuff of today's politics. When the truth is in front of them, because of party affiliations they stick with the false or find a way to weasel out of the truth or misrepresent those who state the truth. Also they have promoted this type of behavior for so long that they really believe the lies. And this goes both ways right and left. Stop all the stuff and lets do what is right and call it like it is. In the end those who lead people in the wrong will pay for their misdeeds GOP or Dems.
Rattner is an Obama insider, not a Private Equity insider. Fareed should know better and get a more balanced view from real Private Equity folks, not Obama Czars.
Fareed you are better than this. You neglected to point out that Rattner was accused of bribing NY State Gov't officials and that his wife works for the current administration. You could have illustrated your point AND maintained credibility. You are better than this. I am disappointed.
I watch almost no TV but make a point of watching your show. I always learn a great deal about a variety of things particularly because global politics and economics are not my areas of expertise and also because of the kinds of guests you have on and the way you manage discussions with eloquent people with various points of view. In just minutes, I usually feel that I have been shown quite a bit about many sides of a complex issue. I tell everyone I know to watch your show.
But, I was surprised and disappointed when, on today's show, you poked fun at the issue you reported on about the violence that is breaking out in Iran due to the high price of chickens. I understand that chickens tend to be animals that are often depicted humorously. But, the fact that violence is breaking out about a food shortage is a serious matter and one that is only going to increase as discrepancies between rich and poor continue on the one hand, and food and water shortages increase on the other. If you could not afford to buy food for your family, wouldn't you consider threatening those who were more fortunate than you after a point? Surely you wouldn't let your children starve without a fight.
I found the humor offensive and elitest. This is not usually how I feel while watching your show so I'll assume you let one of your staff include this brief segment. But I hope you take my words into account. I hope you'll consider doing a special on the subject of global famine and drought and the likely increase of such issues as global warming continues. Once you have done this research, I am sure you will not make jokes about the despair of poor people who cannot feed their children. I hope you won't forget that though poverty around the globe may be declining, it is still quite pervasive. As long as it is, I suggest that you use your platform to bring more attention to the problems of world hunger and drought. All of us who are fortunate should either use our influence to eradicate hunger and risks to the global water supply or we should watch our backs.
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FAREED! 99.5% of the population doesn't need sophisticated tax planning since they don't have the size income to warrant it. For Fareed to sit there like a bump on the log and let him make a conclusion that there are two America's because some super wealthy citizens are able to use domestic, but mostly foreign, legal options to lower taxes is very disappointing.
The only "two America's" I can see is that 50% of the population pays 2-3% of the income taxes, and the other 50% pays 98%! The top 1% may not pay a percentage of their income that makes liberals happy, BUT in 2009 they paid 37% of the total!
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The Global Public Square is where you can make sense of the world every day with insights and explanations from CNN's Fareed Zakaria, leading journalists at CNN, and other international thinkers. Join GPS editor Jason Miks and get informed about global issues, exposed to unique stories, and engaged with diverse and original perspectives.
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Check out all of Fareed's Washington Post columns here:
Obama as a foreign policy president?
Why Snowden should stand trial in U.S.
Hillary Clinton's truly hard choice
China's trapped transition
Obama should rethink Syria strategy
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