So you voting for Romney. Watch this first.

[mrstickball]

Kasz216 said:

gergroy said:

bannedagain said:

Well dude I think the video no matter how you twist it, shows a crude business man  that could give a sh-t about normal people. All he had to do is make a few million less. All those companies could have been saved. If you don't understand why they went in and bought them is clearly over your head. It was about loading them up with debt and then walking away with all the money. So basically they forced the process for profit.

What the hell man, there have been several links in this thread with links to why this film has been discredited and i can see you couldnt be bothered to look at them.  Let me break it down for you, all the companies and events talked about in the film happened AFTER mitt left.  It may show a crude businessman, but it wasnt romney.  

Well he thinks CNN is a rightwing source when it tends to report things slightly to the left of NPR... sooo.

Also, one of them did get closed down while Romney was at Bain.  Just it was closed down by the Canadian Pension fund.

All together, the documentries biggest fault is probably not understanding what it is a company like Bain capital does. 

They buy companies that are failing, and about to go bankrupt.... and try and turn them around.  If they don't, they sell their underlying assets which often are valued higher then the price they paid for them because the people who owned them don't want to go through the bankruptcy process.

To blame Bain Capital for people losing their jobs is like blaming an ER surgeon for people dieing.  Those people were going out of buisness/going to lose their jobs anyway.

 

Exactly.

That is the worst part of this 'argument'. If you attack Romney because of shuttering businesses at Bain Capital, then you have no clue what venture capitalism does. Venture capitalism is a very critical aspect of acquiring capital for new and emerging projects. Its very high-risk for the company, and somewhere near 90% of seeded companies fail within a few years. Those that do succeed result in huge profits for the VC firm, such as Facebook's recent IPO.

To attack what Bain does would be like blaming a McDonalds worker for making Americans obese.

Full disclosure: I do work with Bain Capital and other VC firms pretty frequently. They're great people. To get a good idea about what VC is about, watch "Shark Tank" in the US or "Dragon's Den" in Canada. Or heck, go on Kickstarter. Its the same concept, except you don't sell a portion of the company, but a portion of the goods sold.