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Obama Has a Right to Question Romney's Business Credentials

Questioning Romney's record at Bain is the best way to undermine his campaign

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EVEN WITH COMPANIES THAT FAILED, BAIN AND ROMNEY WALKED AWAY WITH HUGE PROFITS, UNLIKE STREAM-LINING IN GOVERNMENT TAKEOVERS OR GOVERNMENT ORGANIZATIONS. BAIN LITERALLY KILLED THESE COMPANIES BECAUSE OF THE MONEY THEY TOOK FOR THEMSELVES! NEVERTHELESS, IN ROMNEY'S ENTITLEMENT WORLD, WHEN YOU EXPOSE HIS TRUE RECORD, IT IS "ATTACKING FREE ENTERPRISE" or “CAPITALISM.” Bain made hostile takeovers of profitable companies and then proceeded to loot their coffers. Romney closed down companies so Bain can make 800% profit on "investment," NOT job creation! His definition of "freedom" is all self-serving! CAPITALISM IS NOT LICENSE. Thus, some of it's titans have been put in jail; some are still there. Some were put away under the Bush administration. Remember Enron executives (one of them former W's friend). Remember also Arthur Andersen, Adelphia Communications, Computer Associates, Dynegy, Enron, Global Crossing, Halliburton, ImClone Systems, Qwest, Tyco, and WorldCom? Who could ignore the fact that so much money is always involved, and so much at stake? At WorldCom alone, about $7.1 billion has been misreported and lost as of August 8, 2002. Its former chief executive, Bernard Ebbers, left the company before this was discovered. He had an outstanding loan of $408 million from WorldCom. Romney’s firm, while posing as a private equity firm, is really operating as a loan shark outfit—put a company in an untenable situation, take out as much money as possible and then leave the company dry and broke—so money will be sticking out of Romney’s pockets! That is immoral and indefensible, and perhaps even criminal, especially since Bain usually leaves tax payers holding the bag with respect to workers unemployment benefits, health care benefits and pensions. Even in companies that failed, Romney and Bain walked away with huge profits, unlike what happens when government streamlines. This man has no sensitive moral conscience!

Dr. Sam of CA 8:03AM May 27, 2012

"The Romney-Bain Vulture Capitalist model is based on a smash-and-grab strategy that sucks out all the assets of a faltering company, pays huge bonuses to the investors, defunds pension plans at the expense of the tax payer and basically takes no risk with their own money. "

Then why are the vast majority of companies that Bain invested in (yes, INVESTED) still in business, turning a profit, and supplying jobs to people?

Maybe it is because you and Brad don't know what you are talking about?

junior of DC 12:27PM May 25, 2012

Many are confused about the role of venture capital in American economics. There is a huge difference between those VC's who take risks funding start-ups in innovative businesses be it in high tech or in the biomedical industry, among others. They funded the creation of Silicon Valley and the biotech industry, two of this country's most important economic engines. The Romney-Bain Vulture Capitalist model is based on a smash-and-grab strategy that sucks out all the assets of a faltering company, pays huge bonuses to the investors, defunds pension plans at the expense of the tax payer and basically takes no risk with their own money. This business model is exemplary of Romney's cold corporatist empathy-devoid personality and illustrates why he is unfit to be the leader of this country. These attacks are valid and important sources of information about who Romney really is.

jefflz of CA 3:51PM May 23, 2012