raise investment and Bain made money off the failing company and the investors while everyone else lost.
My problem isn't so much they do it, and other claims I've read, as that it's legal.
They took advantage of loopholes and gray areas. One statement said they pushed the IRS laws and if question, treated the IRS like everyone else. They negoiated with the IRS to reach an agreement.
The question is why are such practices accepted? not just why legal, but why acceptable to people in the business. It seems the oldest justification is you have to do so to compete because others will. That may even have some basis of fact, but it's rather sad.