Fact-Checking the Latest Bain Hysteria

An excellent and informative piece from Avik Roy at National Review Online on Bain Capital, Mitt Romney and outsourcing. More light, less heat...

Much of the case against Romney’s business career involves whether or not Bain or its subsidiaries were involved in outsourcing. Now, I happen to think that free trade makes low-income Americans more prosperous by making goods and services less costly. I also think it’s great that people in developing countries can lift themselves up from poverty by selling stuff to us. My friends on the left oppose these things. Fine by me. That debate is outside the scope of this article. What I want to straighten out is another issue: Which of Bain Capital’s investments is it fair to hold Mitt Romney accountable for?

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In sum, here is what you need to know about Bain Capital. Bain sought to invest not only its capital but also its people in turning important American companies around and making them competitive in the global arena. Bain made lots of investments. Some jobs were created, and some were lost. Mitt Romney was involved with some, and not others. Some failed, but many more succeeded.

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