Romney The Job Creator

This article describes the mission of private equity firms, including the mission of Bain Capital.  Their mission is to provide an above market rate of return to investors, and to private equity managers.  They often succeed in doing that.  Sometimes jobs are added and sometimes jobs are lost.  Some of the firms even go bankrupt after they are taken over.  Often it is because the private equity firms borrow heavily in order to return their invested capital to the private equity firm in form of dividends.  High debt burdens are not good for struggling firms.

Mitt Romney, along with cheerleaders like David Brooks, who regurgitates information from The National Review and WSJ op-eds, claims that he created 100,000 jobs during his tenure at Bain Capital.  That claim is false and its falsehood is documented in this article.  President Obama's campaign is accurately attacking that claim.  Romney and Bain Capital have not been in the business of creating jobs.  Nor have they been in the "creative destruction" business. They exist to make a profit by putting lipstick on a pig and fetching a better price for the better groomed pig.