"When Mitt Romney Came to Town," also known as "The King of Bain," the long-form attack ad that Newt Gingrich's supporters are running, is a very bad documentary. It is the kind of sensationalist fear mongering that the right wing hates when Michael Moore does it.
The film, which was originally made by Romney employees, was sold to a pro-Gingrich political action committee.
The film shows Romney and his firm, Bain Capital, buying up several companies, firing most of the workforce, making huge profits by getting other people to loan the companies money, and then shutting them down completely. In one case they started a technology firm, got favorable ratings from Lehman Brothers, made a huge pile from the initial public offering, then sold off all their stock just before the company went bankrupt.
In each case - and the film says there are many more - Bain acts like the vultures that Rick Perry says they are.
What the film does not do is investigate whether the companies could have been run profitably at all. The film-makers did not even ask whether anyone could have saved these firms.
I do not know the answer to that question. So far, no commentators on the film have tried to answer it. It may be that Bain Capital, and Mitt Romney, are indeed "vulture capitalists" or "mafia capitalists," buying profitable companies, suckering investors into giving Bain lots of money in exchange for worthless debt, then destroying the firms. It may also be that Bain Capital bought failing companies, performed necessary creative destruction, and saved the fragment that would otherwise have failed.
I would really like to know which kind of businessman Mitt Romney is. But "When Mitt Romney Came to Town" is a very bad way to try to answer the question.