People owe it to themselves to actually
listen to Newt's explanation. Unfortunately, many Republicans don't seem to understand it, and are projecting it as an attack on capitalism.
But this isn't some Left-tard kind of attack at all. Newt's case is simple:
1) Romney's vaunted "private sector experience", is of a particular kind (private equity management,
not 'venture capitalism') that's going to represent a huge liability in the general election. Nobody's asserting that Bain Capital's actions were necessarily illegitimate nor unlawful, but it's obvious that Romney was no white knight of heroic, entrepreneurial capitalism.
2) Questions on
business ethics are legitimate inquiries that one should have to answer for, especially if they're running for public office—these are not attacks on capitalism, and it's completely goofy that some are construing it that way. Those advocating a "what happens in Vegas, stays in Vegas" attitude towards private enterprise activity, aren't doing capitalism any favors—rather, they're ironically validating the Left's destructive sophistry against capitalism.
See
Selling out capitalism in the defense of Romney and Bain
Even
ZeroHedge doesn't defend Romney's record as a 'capitalist':
"Lately, Bain founder and GOP presidential candidate Mitt Romney has found himself in a spirited defense of the private equity industry, doing all he can to spin decades of data which confirm, without failure, that PE Leveraged Buy Outs are nothing but "efficiency maximizing" transactions whose only goal is the "maximization" of EBITDA in the pursuit of dividend recap deals, IPOs or outright sales, while loading up the company with untenable amounts of leverage. All this with a 3-5 year investment horizon, which ignores the long-term viability of a company and seeks to streamline (read fire as many as possible) operations as quickly as possible in the goal of maximizing short-term returns. We wish him luck in his endeavor."
Also take note that
Romney relied on corporate welfare.
Shame we have so many wannabe Capitalistas here at FR and elsewhere, who adamantly defend this kind of shuck and jive financial paper shuffling from corporate welfare bums, as exemplary acts of free-market enterprise.