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Simply Running with It?
@flowerchilde (12529)
United States
October 31, 2012 9:55am CST
http://online.wsj.com/article/SB10001424052702303360504577412403839709854.html
This makes sense to me, more sense than what some campaign ads are claiming.
Here's some quotes:
- "The basic Obama-liberal critique goes like this: Bain buys a company, loads it with debt and then sucks out cash before foisting the wounded business upon an unsuspecting buyer or a bankruptcy court." (Destroying all jobs and retirement) "In the risk-taking world of private equity such a scenario can certainly happen.. but, if Bain's standard operating procedure were to hand the next owner of one of its companies a ticking bankruptcy package, how is Bain still finding buyers nearly three decades later? And who would agree to lend money to a company backed by Bain? Wouldn't word have gotten around by, say, 1987 that Bain's portfolio companies weren't creditworthy?"
- "The liberal critique of private equity assumes that the financial industry is full of saps who have been eager to lose money across the table from Bain for 28 years.. it's a logical conclusion that Bain had to be creating value along the way—for investors, for lenders, and that means for workers too."
-- here's the link again, http://online.wsj.com/article/SB10001424052702303360504577412403839709854.html
Which side do you come down on? This or the campaign ad claims? 

2 people like this
4 responses
@flowerchilde (12529)
• United States
31 Oct 12
Ya, I'm thinking blinders are rather popular these days!

@Rollo1 (16676)
• Boston, Massachusetts
31 Oct 12
It is almost unbelievable how so many will buy such a simplified and emotional but unrealistic view of economics and business. Of course, no company can long survive if they never rack up a success. And the truth about Bain is that they would not need to try to prop up and save companies that weren't already going under.
But it fits the narrative, it fits what they want to believe. They like the us vs them of rich vs poor and rich always equals evil.
It's simplistic and narrow and it makes them feel better, because if rich=evil, then they are being morally superior just by hating anyone who is rich.
1 person likes this
@laglen (19759)
• United States
1 Nov 12
Good points and great argument! While the scenario is possible, it is not what Bain did. Nor is it something that a successful business would do. I do believe that Bain would have fallen under the category of a successful business.
I also agree that this is a good argument but most people wouldn't make the connection even though you do it for them. The majority of liberals I know, would not know how to respond since the msm has not prepared them for this question.
I side note to the argument, point out that Bain was not government funded.
@bestboy19 (5478)
• United States
2 Nov 12
It doesn't make any sense that Bain would still be in business if it was so bad as the Obama campaign paints it.




