Like some 2,300 other such U.S. equity firms, Bain looks to buy companies that are underperforming or undervalued and turn them around.<quoted text>
You can try to sugar coat it all you want. They went into some companies, invested money to make them look profitable, borrowed money from banks, sucked their investment plus huge profits out & then let the company to drown on that debt & cause every employee to lose their job.
Sometimes those dents were to the federal, state & local governments who then lost their loaned money & us taxpayers paid.
Even Republicans called him a vulture capitalist.
Top p[retend he did not do these things isa just pathetic.
Here arte 10 quotes about Romney & Bain by Republicans.
You were a Newt supporter.
"If Governor Romney would like to give back all the money hes earned from bankrupting companies and laying off employees over his years, then I would be glad to then listen to him Newt Gingrich [Mediaite, 12/14/11]"
"Now, I have no doubt Mitt Romney was worried about pink slips whether he was going to have enough of them to hand out because his company, Bain Capital, of all the jobs that they killed Rick Perry [New York Times, 1/9/12]"
Far from "looting," this is a vital contribution to capitalism and corporate governance.
Some companies bought by private-equity firms suffer job losses after a buy-out because the companies were underperforming.
The critics don't mention the companies acquired in private-equity transactions create more new jobs.
Chrysler and GM might have turned around earlier with fewer job losses and without any taxpayer cost had they been bought by private equity two or three decades ago.
Think of Obama "investing" in Solyndra. Only he didn't use his own money. He used ours. And it still went under.