That is B-A-I-N, not B-A-N-E, the arch villain of Batman fame….(my moment of geek)……but one appears as dangerous as the other….

Okay, I am a putz —-I am playing pile on…..what the Hell?  I am entitled, right?

We voters have heard a bunch about Mr. Mitt’s baby, Bane Capital,……we have heard how good it is for the free market system and we have heard that it is all about the destruction of companies for monetary gain, at the expense of the workers and their communities…….but since everybody is talking about it I would like to post something I read recently……

The Wall Street Journal examined 77 businesses Mitt Romney invested in while running Bain Capital from its 1984 start until early 1999, to see how they fared during Bain’s involvement and shortly afterward.

“Among the findings: 22% either filed for bankruptcy reorganization or closed their doors by the end of the eighth year after Bain first invested, sometimes with substantial job losses. An additional 8% ran into so much trouble that all of the money Bain invested was lost. Another finding was that Bain produced stellar returns for its investors — yet the bulk of these came from just a small number of its investments. Ten deals produced more than 70% of the dollar gains.”

On Right Wing News website, John Hawkins had this to say about Bain Capital and Mitt…..

Yes, Mitt ran a company, made money, and helped create some jobs (We really have no idea how many. Oddly, Mitt doesn’t seem to have made much of an effort to put together a real count — which is probably a bad sign). All those things are to be applauded and on balance, Romney’s experience at Bain Capital should be perceived as an asset. Yet and still, everything Romney did at Bain Capital shouldn’t be applauded. It wasn’t all sunshine and roses. Yes, Romney created jobs. He also got a bailout at Bain Capital. He also made huge profits directly off of buying out companies and putting a lot of poor and middle class Americans out of work. They lost their jobs. He got rich off of putting them in the unemployment line.

Incidentally, although Bain Capital did more good than harm, there’s some truth to that. Mitt wasn’t always a well meaning guy who just wanted to help turn businesses around. There were times when Bain Capital rowed in like Vikings, plundered all it could, and left decimation in its wake. Should that be illegal? Nope. Is it part of capitalism? Sure. On balance, was Bain Capital probably more of an economic plus than a minus? Yes. But — and this is a big but — are there going to be a lot of people who resent what was done to a bunch of ordinary Joes by the Bain Capital Vikings? Oh, you bet there will be. Ted Kennedy beat Mitt Romney’s brains in with his time at Bain Capital, you can bet Obama will try to do the same, and guess what? It’s entirely possible that it might work in an environment where the American people are sick to death of well-connected rich guys with a sense of entitlement getting a free ride while regular people get taken to the cleaners. If you don’t think Mitt Romney, who took a bailout at Bain Capital, supported TARP, and said he was open to future bailouts will fit into that mold pretty well, then you’re kidding yourself.

Even the Right wing sees Romney for what he is……an empty suit!

Companies like Bain is NOT about job creation……it is ALL about wealth creation….wealth for the players not the business that use to play this game…..