It’s interesting that Patrick Cooney Sr., in his July 19 letter accuses Romney of “passing the buck” regarding his time at Bain Capital and references Truman’s famous “The Buck Stops Here” statement. Frankly, when Romney left Bain is of no concern to me. Regardless of whether the companies Bain invested in survived or were liquidated, Bain’s actions were those typical of a capitalist economic engine—take a company that’s in danger of failing and invest your time and money in trying to make it successful.
If the company survives, take in the profits earned from the time and money invested. If it does not survive, get the best deal you can and cut your losses. Bain did no more than any other business entity, small or large, does in our capitalist society. Everyone’s goal is to make money, unless you are among the growing number who think the government should provide a...
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