"Romney's Bain Experience Wasn't Real American Capitalism" by Peter Fenn at usnews.com

[applegrove]

Romney's Bain Experience Wasn't Real American Capitalism
by Peter Fenn at usnews.com
May 26, 2012 RSS Feed Print

http://www.usnews.com/opinion/blogs/Peter-Fenn/2012/05/26/romneys-bain-experience-wasnt-real-american-capitalism

"SNIP..............................................................

The debate is on. The Obama forces and the Mitt Romney campaign are dueling back and forth with ads and heated rhetoric about Romney's record at Bain Capital.

Actually, this debate began during the Republican primary season, when Romney was eviscerated by his probusiness foes vying for the nomination. Rick Perry called the Bain approach to business "indefensible," "inherently wrong," "vulture capitalism," and Newt Gingrich called it "exploitation." So, those who are worried that the critique of Romney's role as a corporate raider is somehow a criticism of American capitalism or is somehow antibusiness should play back the Republican primary debate tapes.

Here are the fundamental questions about Romney and Bain: Did they help middle class, working families; did they create hundreds of thousands of jobs in America; was this American business at its best?


The answer, in my view, is clearly no. This is not George Romney running American Motors, this is not Steve Jobs creating Apple, this is not Ray Kroc developing McDonald's. This is Wall Street run amok, with little regard for jobs lost, pensions lost, debt piled up, lives and communities left in tatters. The sole purpose of Bain Capital was to make money, and lots of it, for themselves and their investors. It was not to rebuild companies and rebuild lives. It had nothing to do with job creation.

......................................................SNIP"

[BeyondGeography]

1. Using other people's money to game other people's companies

He's right.

[firehorse]

2. It's predatory and immoral, the way Bain killed jobs for personal monopolies.

I wonder what the mormons would say about the magnitude of personal greed that ruins the jobs of many.