The Obama campaign is up with a new ad hitting Romney on his Bain Capital days, in what is likely the first salvo of Obama’s main argument against Romney.
When it comes to Bain Capital—a firm that bought and refurbished struggling businesses, often by laying off workers or occasionally liquidating the company altogether—Romney got off real easy in the GOP primary. The only candidate willing to attack Romney on his role in the firm was Newt Gingrich, who was roundly pilloried for for it by other Republicans. Since when, the criticisms went, was the GOP against making money?
We view Romney as a job destroyer…
If he’s going to run the country the way he ran our business, I wouldn’t want him there. He would be so out of touch with the average person in the country. How could you care? How could you care about the average working person in the country if you feel that way?”
Kansas City’s GST Steel was a successful company that had been making steel rods for 103 years when Mitt Romney and his partners took control in 1993. They cut corners and extracted profit from the business at every turn, placing it deeply in debt. When the company eventually declared bankruptcy, workers were denied their full pensions and health insurance, and the federal government was forced to step in and bail out the pension fund.