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Keyword: destroyerromney

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  • Bain used legalized theft (bankruptcy) to privative profit and socialize loss.

    01/27/2012 8:40:26 PM PST · by liberty2all · 19 replies · 1+ views
    I’m so tired of the refrain that a critique of Mitt Romney’s work at Bain is “an attack on capitalism.” Capitalism means that you RISK capital, so that you will profit if things go well and you will incur a loss if things go poorly. Private equity firms, like Bain, are in the business of maximizing profit for investors (not to “create jobs” as characterized by Romney supporters), which is perfectly reasonable and legal. To do that, private equity firms often make investments then extract “consulting fees” and “special dividends” in excess of the original investment to ensure that no...
  • Romney at Bain: Big Gains, Some Busts

    01/09/2012 5:23:42 AM PST · by yinandyang · 12 replies
    WSJ ^ | Jan 9, 2011
    The Wall Street Journal, aiming for a comprehensive assessment, examined 77 businesses Bain invested in while Mr. Romney led the firm from its 1984 start until early 1999, to see how they fared during Bain's involvement and shortly afterward. Among the findings: 22% either filed for bankruptcy reorganization or closed their doors by the end of the eighth year after Bain first invested, sometimes with substantial job losses. An additional 8% ran into so much trouble that all of the money Bain invested was lost. Another finding was that Bain produced stellar returns for its investors—yet the bulk of these...