Why Does It Matter When Mitt Romney Left Bain Capital?
I have about as much enthusiasm for this presidential campaign as I would have for getting a root canal. That being said, this imbroglio over when Mitt Romney did or did not leave Bain Capital fascinates me both because of the way Democrats are obsessing over it and because of how defensive Mitt Romney is about it.
Bain Capital’s job, in the marketplace, is to buy up unprofitable or marginal businesses and make them profitable again. Sometimes that requires outsourcing parts of that company to other places with cheaper production or labor costs. Rather than letting those companies die entirely, they kept them alive by lowering operating expenses.
What’s so bad about that? Other than the fashionable economic illiteracy which leads some to believe that outsourcing is somehow an inherently sinister and unpatriotic activity?
That’s not something Democrats have any right criticizing, and it’s not something Romney should be defensive about.Tags: bain capital, Barack Obama, mitt romney