The bane of Bain Capital From 1992 to 2002 when Mitt Romney was the CEO and sole shareholder of Bain Capital, a private equity company, he devised a business model for making no product, just lots of money. This is how it worked. You have a few million burning a hole in your pocket and you prey on a profitable company. The target company must be profitable for the scheme to work. First, Bain makes a $5 million (or so) down payment; the victim holds the note on the rest of the loan that paid for its own buyout. Instead …