"Mr. Romney’s experience at Bain is at the heart of his case for the presidency. He has repeatedly promoted his years working in the 'real economy,' arguing that his success turning around troubled companies and helping to start new ones, producing jobs in the process, has prepared him to revive the country’s economy. He has fended off attacks about job losses at companies Bain owned, saying, 'Sometimes investments don’t work and you’re not successful.' But an examination of what happened when companies Bain controlled wound up in bankruptcy highlights just how different Bain and other private equity firms are from typical denizens of the real economy, from mom-and-pop stores to bootstrapping entrepreneurial ventures.
"Bain structured deals so that it was difficult for the firm and its executives to ever really lose, even if practically everyone else involved with the company that Bain owned did, including its employees, creditors and even, at times, investors in Bain’s funds."
The whole piece is worth a read. This is the point the Democrats need to make as often as they can, especially with Willard touting his bidness experience as his main qualification for the presidency: Willard's Bain Capital experience was all about making handsome profits for the partners, not about saving or creating jobs.
