Returns, Jobs or Charity – What is a Corporation’s Responsibility

The recent debate around Mitt Romney and the role of Bain Capital in job losses has created an important line in the sand for corporate responsibility. Steve Rattner, former ‘Car Czar’ for the Obama Administration, defended Romney in an important statement on TV. He said,

“Bain Capital’s responsibility was not to create 100,000 jobs or some other number, it was to make profits for its investors, most of whom were pension funds, endowments and foundations and it did it superbly well, acting within the rules, acting very responsibly and was a leading firm”

The important argument that Rattner makes here is …

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