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Who said a company shouldn’t be allowed to fail? Restructuring is a classic thing, but that wasn’t what Romney was doing.

He was stripping assets (cash and pension funds) of companies that were faltering, dumping the corpses, and then expecting the taxpayer to make up the difference.

Pension funds cannot be stripped from a company, why don't you try reading about the pension fund guaranty department. In this case, the fund shortage, probably occurred prior to the purchase, in which case the buyer would not have been liable, since the government run pension guaranty fund was suppose to make sure payments were always current. I have never brothered to read the actual financial statements of the time, but that is probably what happened.

“He was stripping assets”

That is how a company fails, so if you believe that some companies should be permitted to fail, then you are endorsing this. As far as stripping pension funds is concerned, I doubt that is the case. Gingrich himself told the PAC that is running these ads to correct that inaccuracy. In fact, I don’t think there really is any evidence at all so far that he bought any of these companies in order to strip them, much less to strip their pension funds. He bought them to turn them around, and some of them did not succeed. That’s all there was to it. But even if he had bought them to strip the assets from the beginning, that is a legitimate activity. If the assets are worth more in some other business, then move them there. That’s what capitalism is all about. Moving assets to their most productive use.