Explain This to Me
Monday, May 14, 2012 at 9:43PM
John Prothro

Obama is out with a new campaign ad attacking Romney's record as a private equity buyout specialist.  The ad uses this ominous line:  

"In Romney’s economic philosophy, CEOs and wealthy investors prosper by any means necessary, even when it meant companies failed and workers were left behind."

If this really is "Romney's economic philosophy", I would like him to explain it to me.  How could a CEO or wealthy investor prosper by investing in a company and causing it to fail?  Seems to me that is a pretty difficult task: making money bankrupting your own companies. Last I checked, investors--especially value investors like Bain--invest in companies to make them better, not to cause them to fail.

Maybe Obama is just projecting.  His economic philsophy is one that encourages failure and discourages production.  And his campaign could be hoping America's economic failure produces electoral prosperity.  The more people relying on government handouts, after all, the more people likely to vote in Obama's favor.  

 

Article originally appeared on LastingLiberty.com (http://lastingliberty.com/).
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