This post contains stolen text.The fact that Bain's companies continued to fail after Romney left has nothing to do with the issue. Bain didn't suddenly start doing leveraged buyouts after Romney left. They made the switch from venture capital to leveraged buyouts in the late 80's under Romney's leadership. Venture capitalists lend money to growing companies with the idea of making money as that company grows...they are an important part of out capitalist system Arbitrageurs use the leveraged buyout and tax arbitrage strategy outlined in the letter. They buy solid companies, or somewhat troubled companies with substantial concrete assets, and then through loans and tax gimmickry drain them dry. They make money on dividends and they make money as they break the companies up and sell their assets. No matter whether the company fails or succeeds, they make money.
Normally, when a business goes belly-up, the owners lose their shirts. But, the way Bain gamed the system they were in a win-win situation. The only people who got totally screwed in the process were the employees of the companies. If the business failed, they lost everything and if the business survived, it was only after a series of layoffs and salary and benefit cuts.
There's no question that Romney was a successful businessman...successful in a business model that cares only for profit with no consideration of who suffers as those profits are gained.
The poster is a plagiarist for failing to attribute its source and for presenting it as his own.
West Mifflin and danny BOY, plagiarist birds of a feather.