Romney Should Be Proud of Bain Work
Bain and companies like it saved America: Daniel Henninger
By John Johnson,  Newser Staff
Posted Jan 19, 2012 2:15 PM CST
Mitt Romney pauses speaks at his campaign headquarters in Charleston, S.C., Thursday.   (AP Photo/Charles Dharapak)

(Newser) – Mitt Romney shouldn't distance himself from his work at Bain Capital during the 1980s, writes Daniel Henninger at the Wall Street Journal. In fact, he should embrace it, because Bain and companies like it rescued the country. Forget the caricatures of 1980s Wall Street as the decade of greed. "Properly understood, the 1980s, including Bain, were the remarkable years when an ever-resilient America found a way to save itself from becoming what Europe is now—a global has-been."

All those takeovers and leveraged buyouts improved our "fundamentals," provided a necessary "cleansing" of the economy, and led to the boom years of the 1990s. "Not only did Bain Capital save America, but no matter what turn Mitt Romney's political career takes, Bain Capital may stand as the best of Mr. Romney's lifetime contributions to the nation's economic well-being," writes Henninger. "If only he'd tell the story."