Anthony Gardner, writing for
Bloomberg, reports that Mitt Romney's specialty during his years at Bain Capital, was privatizing gains and socializing investment losses.
What’s clear from a review of the public record during his management of the private-equity firm Bain Capital from 1985 to 1999 is that Romney was fabulously successful in generating high returns for its investors. He did so, in large part, through heavy use of tax-deductible debt, usually to finance outsized dividends for the firm’s partners and investors. When some of the investments went bad, workers and creditors felt most of the pain. Romney privatized the gains and socialized the losses.
The report describes Romney's style of "casino capitalism" that produced quick profits for big investors but led to
