Mitt and his minions have been handling their latest Bain problems with their usual mix of courage, aplomb, forth-rightness, and political savvy. Which is to say they've been tripping all over themselves, muddling their own message, and generally making things worse while desperately begging a sympathetic press corps to clean it all up for them or at least change the subject. But when it is over and the press corps does move on I think it might very well have boiled down to this.
Mitt did leave Bain when he said he did but for various legal and business reasons his name stayed at the top of the company flow chart. This may have violated a bunch of paper rules but still Mitt is telling a sort of truth. He was a figurehead when he says he was a figurehead.
It would be a lot easier to understand and defend if the company had been called Romney Forge and Foundry and made widgets. Mitt could simply show that he was far out of town and not in contact with anyone at the factory when a batch of defective widgets came down the line.
But so what? It doesn't change the essential fact about Bain Capital.
Bain didn't make widgets. It didn't do anything except make a few people rich at the expense of dozens of American communities and thousands of American workers. This is what Mitt himself designed it to do. This is what it it did when he was running the show. It was what it continued to do while he was off running the Olympics. Sending jobs overseas was just one way it took work away from Americans. The key thing is that taking jobs away from American workers was intrinsic to the process of making those few people rich.
You can argue that “creative destruction” is a necessary and even ultimately beneficial economic function, but it's like arguing that crows, buzzards, jackals, and hyenas are important to the food chain---true but it doesn't turn a buzzard into an eagle or a jackal into a lion.
Mitt wasn’t an entrepreneur. He was a scavenger.