Looting bodies, for new players

On a somewhat related note, I was just reading this thread: Tips for Fresh DM's and new PCs

And a post there explained this rule
“For planned problems in which the players are victorious, choose loot found or roll 2d6 on Loot Table 1 a number of times equal to the level of might of the opposition.”

to mean that winning a planned fight with 4 goblins means 8 rolls on loot table 1.

That sounds great, but is it correct? (It wasn’t how I interpreted it myself)

EDIT: Also, who rolls loot rolls? Not that it truly matters, but in your experience is it more fun/does it work better when the players roll or the GM?