From over the weekend, Krugman continues his attacks on Romney. Now, I am not wont to defend Romney as I have no view towards voting for him -- but I think this piece shows that Krugman is nothing more than a lab-based academic who lacks any real world experience. Better yet, it is just another example where his critical eye seems to be on vacation as it relates to those arguments which confirm his thesis.
In this case, Krugman seems appalled at the notion of re-trading because he has zero understanding of how a deal gets done. When Bain is the high bidder, the process doesn't end there -- next comes due diligence, where the potential buyer gets to take a more thorough look under the hood of what it's buying. And it's entirely possible (and quite common) that something will come up that leads to a reduction on final pricing.
That Krugman thinks this "revelation" is some sort of black eye for Romney and Bain only speaks to his own lack of sophistication on the topic (and many others I would guess) while providing more slop to feed to his predisposed audience.
