“$300 million profit, was 200 million enough, or 100 million?”
Newt said that.
Newt sounded like Karl Marx.
It was a STUPID thing to say and Newt owes all of us a retraction and an apology.
The government has no business telling any business how much money they are allowed to make!
When businesses stop lobbying the government for advantageous legislation, designed to eliminate their competition, then we'll talk.
I recently joined this site because I heard it was solidly conservative. With Newt and half of the people here advancing Marxist arguments against venture capitalism, it appears as though conservatism has already lost, regardless of what happens in the election.
He was talking about the way Bain operated, which was not by doing the hard work of investing in a firm and either rebuilding it or taking it down and bringing something else out of it. Bain went after the quick, short term profit that came from stripping a company of its assets and dumping it, and also relied on government guarantees (bailouts) in some cases when it miscalculated and there wasn’t enough profit in its usual strategy.
The capitalism that has brought prosperity to our country is not the same thing as highway robbery or a bully snatching candy from a weaker kid. Declaring that it is, and that any way that somebody wants to get money out of somebody else is automatically good (in the bizarre Ayn Rand-ish way I am seeing here) does a great disservice to capitalism.