David Stockman: Mitt Romney Not a "Job Creator"
Indeed not. That's not what Bain was about--or supposed to be about.
David Stockman:
I don't think that Mitt Romney can legitimately say that he learned anything about how to create jobs in the LBO business. The LBO business is about how to strip cash out of old, long-in-the-tooth companies and how to make short-term profits…All the jobs that he talks about came from Staples. That was a very early venture stage deal. That, you know they got out of long before it got to its current size.
