Romney defends record at Bain Capital firm

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  • Furry1993 Clearfield, UT
    May 25, 2012 10:40 a.m.

    How Bain (and other private equity investment firms) works:

    A group of investors looks for companies that have a strong underlying business but are in distress thanks to heavy debt burdens. The investors then take over the company. Private equity investors buy control of the company's board by purchasing the firm's stock. Private equity investors use their control of the firm to take on more debt, while at the same time cutting costs by laying off workers. Cash from the loans and cost savings are funneled back to the investors. This looting continues until the company can't pay its debts. When it finally collapses, the company files for bankruptcy to extinguish the debt -- but private equity investors get to keep the gains they've already reaped.

    This is NOT what the United States needs.

  • WHAT NOW? Saint George, UT
    May 23, 2012 5:21 p.m.


    Romney created great wealth for himself, for Bain, as well as investors.

    Romney is responsible for the mixed the message that he created wealth in the private sector as well as jobs in Mass..

    In the private sector, Romney created jobs. At one point, it was 100's of thousands of jobs, revised down to 10's of thousands, revised again down to thousands of jobs.

    However, during his one term as the elected Gov. of Mass., job creation in Mass., was 47th out of 50 states.

    Romney needs to explain/defend/spin that monumental failure.

  • George Bronx, NY
    May 23, 2012 3:49 p.m.

    once again worf the market has been adding jobs for more then 24 months now and congress not the president "pass" budgets.

  • worf Mcallen, TX
    May 23, 2012 2:37 p.m.

    People loss their jobs when Obama took over GM. You fire to save the others, and re-build the company. GM still owes the tax payers thirty five billion dollars, and BO doesn't know what to do.

    Hmm! How many people have loss their jobs in the past three years, and how long has it been since Barack has passed a budget?

  • Furry1993 Clearfield, UT
    May 23, 2012 2:00 p.m.

    One thing is sure -- Romney's scorched-earth policies at Bain show that he does like to fire people (and, don't forget, outsource jobs and force companies into bankrupty, all so that the rich investors in Bain could make even larger profits). The country does not need that type of policy and action.

  • RanchHand Huntsville, UT
    May 23, 2012 1:43 p.m.

    Of course he's defending his time at Bain Capital.

    He LIKES to fire people, why wouldn't he defend that!