OPINION:
The ongoing controversy over Mitt Romney and his role in the venture capital firm Bain Capital is perplexing to me (“Obama: Bain Capital is the issue in 2012,” Web, Monday).
Venture capital firms often act as rescue operations in the same way as our own United States Coast Guard does. Capitalism is most like our coastal waterways in that there is no restriction on any vessel entering the waterway to transverse its length as long as the vessel is sea-worthy. Often the shortsighted actions of our politicians and government bureaucrats stir the economic waters to such an extent that many businesses find themselves floundering in the heavy seas of government taxation and regulation.
If it weren’t for the availability of venture capital firms acting as an economic coast guard, many businesses would be smashed against the hard, unforgiving rocks of economic reality. Bain Capital’s economic rescue operations, like our coast guard, were mostly successful while others’ were not.
MATTHEW R. POWENSKI
Buffalo, N.Y.
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