My dear sir,
I can only refer you to the WSJ article I read. A few quotes:
“The Journal analysis shows that in total, Bain produced about $2.5 billion in gains for its investors in the 77 deals, on about $1.1 billion invested. Overall, Bain recorded roughly 50% to 80% annual gains in this period, which experts said was among the best track records for buyout firms in that era.”
“Some of the companies that ran into trouble did so AFTER (emphasis added) Bain was no longer involved and new owners had taken charge.”
Bain invested in many successful companies under MR’s tenure most notably companies such as Staples, Dominoes, and Sports Authority among many others. Sure some smaller deals failed. But that it is capitalism. Some investments work others do not. MR made all of his own money. When his parents passed away, he donated his inheritance.
There is nothing wrong with investing in start ups, or turning failing companies around. And that’s precisely what Bain Capital did. There is a need to take investors capital and put it to work in the private sector. Banks don’t always lend to business. This business is not much different than the venture capital companies which operate in Silicon Valley. To portray MR as some sort of “vulture capitalist” like Gordon Gekko is the same type of infantile caricature I would expect to see from a clueless leftist with a Guy Fawkes mask.
Yeah, like Stericycle, which is in the business of helping abortionist mass murderers dispose of the tiny borken bodies of their innocent victims.
Romney personally made more than $75 million on that deal alone. I've seen the SEC docs which prove it.
What do you think of THAT kind of "capitalism"?