[P-Marlowe]

I think we need to understand that there is a big difference between the modern version of unfettered capitalism and free enterprise. Too often you see capitalism married to government where companies like Bain are free to use their investment capital to buy up competing companies or to leverage control of companies and then loot them and then bankrupt the companies they own without incurring any personal liability for the debts that are left over after they loot their quarry.

In a Free Enterprise economy if you buy a company you incur the risks and liabilities of running that company and you would not be able to keep assets in your other companies if one of your companies goes belly up.

Using the bankruptcy laws to make money is a dishonest business model deserving of severe criticism by those of us who truly beloved in Free Enterprise. Romney's business model is a deviation from true risk
/loss. Capitalism and is closer to Crony Capitalism.

[xzins]

If I run up enormous debt, I have to pay it off. If I file bankruptcy, then what I own is part of the assets the court uses to pay off the creditors.

Romney ran up enormous debt in some of those companies, took out multi-millions in fees and dividends, and then those companies filed bankruptcy and paid pennies on the dollars to their creditors.

The question is this: Why did Bain not have to put its assets on the line as part of the bankruptcy settlement?

If it were you or I, our house, our accounts, our cars, and all our property would be part of the asset list to pay off the creditors.

How did Bain avoid this?

That’s the million dollar question, and I’m betting the answer smells to high heaven.