Romney’s Success at Bain Capital: The Scam as Business Model

There are many prominent business people who devoted their lives to building up large companies that produced tangible products, or provided services that had considerable value.

But each of these people could take credit for building companies that produced wealth. That is not the case with Mitt Romney.

Private equity companies like Bain Capital are not primarily about producing wealth. They profit largely by siphoning off wealth created elsewhere in the economy. There are many different ways in which this diversion of wealth is accomplished.

via Romney’s Success at Bain Capital: The Scam as Business Model.

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