re: #79 Targetpractice

Huh. interesting: Often-times, the very ‘turnaround’ that Bain performed was simply massive, debt-fueled expansion. So the companies still eventually went bankrupt after capital-driven investment. But because of the structure of the deals, Bain profited from that short-term profitability.

Stuff like this is one of the major inefficiencies in capitalism: Bain profited hugely by focusing on the short-term, and most investors likewise are motivated by short-term profit, not long-term, sustainable practices. This is why a corporate mindset for running the US is completely inappropriate and for Romney to approach it as if were is ridiculous.

If Romney were actually serious, then what he’d be saying is that the US needs someone in charge who would aggressively expand. Or, indeed, sell off the less profitable states. It’s really ridiculous if you think about it for a second, but so many people (who last year were saying “Executive experience” until they passed out) are now talking about the importance of working in private business.