Tuesday, January 10, 2012
As this article points out, Mitt Romney is delivering the wrong message about his time at private equity firm, Bain Capital. Romney talks about the jobs that Bain created but he avoids mentioning jobs lost and companies that failed to thrive. The point is that Romney wasn't in the business of job creation but wealth enhancement for private investors. If he could have increased wealth without a single employee to compensate, he would have done so. And, that's not wrong. Business is supposed to enrich its owners. Politicians, on the other hand, have a populist view. To them, business is supposed to create jobs for the masses whether or not it enriches the ownership. Romney has adopted this view in an effort to win the Republican nomination. His opponents are calling him on it and pointing out his hypocrisy. That is a shame because Romney has proved that he knows how to run a business. He may not have figured out how to be a politician.