What’s clear from a review of the public record during his management of the private-equity firm Bain Capital from 1985 to 1999 is that Romney was fabulously successful in generating high returns for its investors. He did so, in large part, through heavy use of tax-deductible debt, usually to finance outsized dividends for the firm’s partners and investors. When some of the investments went bad, workers and creditors felt most of the pain. Romney privatized the gains and socialized the losses.Oh nonsense, man! Nothing could be more relevant to overseeing the U.S. economy.
What’s less clear is how his skills are relevant to the job of overseeing the U.S. economy, strengthening competitiveness and looking out for the welfare of the general public, especially the middle class.
Imagine that the country was a corporation, and its shareholders were those entities rich or powerful enough to arrange major campaign contributions. The workers are those who, well, aren't that rich. What happens when we suffer severe losses as a corporation? We socialize the losses.
When things go well, why that's private profit!
I'm surprised you don't get this. The President's out campaigning on the very point this afternoon. How many times does he have to explain how economic management works?