Romney’s Profitable Past

Newt Gingrich, Rick Perry, and Jon Huntsman seem to be engaged in a perverse contest to be the Republican presidential candidate to say the most asinine thing about Mitt Romney’s tenure at Bain Capital, the private-equity firm at which he served as chief executive, helped turn around a number of failing businesses, and, in the process, produced magnificent profits for his investors and for himself. Mitt Romney ran a firm that invested in struggling businesses, made money, and never asked for a bailout — and Romney’s rivals apparently expect Republican voters to regard that as a liability.

We are largely immune to the charms of the CEO who promises to sweep into Washington and run the government like a business, mainly because the government is not a business. At the same time, private-sector expertise and experience is an invaluable thing in a chief executive, and Romney has nothing to regret on that front. Would that we could say the same thing of his tin-eared declaration that he, too, once feared getting the dread pink slip. Suffice it to say that the multimillionaire/CEO/governor son of a multimillionaire/CEO/governor does not fear losing his job in quite the same way as the typical American worker does.

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