Dear Commons Community,
As voters cast their ballots in the New Hampshire Primary today, there are seething attacks on front-runner Mitt Romney for his career with the venture capitalist firm, Bain Capital.
On NBC’s “Today” show, Mr. Gingrich said Bain Capital “apparently looted the companies, left people unemployed and walked off with millions of dollars.”
In Concord, N.H., Jon M. Huntsman Jr. seized on a comment by Mr. Romney earlier Monday that he liked “to fire people,” saying that the quip reveals a difference between Mr. Romney and himself.
Perhaps the most damning attack will be a documentary entitled, Mitt Romney Came to Town (see trailer above) which is scheduled to go public soon. ABC News is reporting that the film was alledgedly paid for my a super Pac that supports New Gingrich. Below is a description from the film’s website.
If the documentary is as searing as the trailer, Mitt Romney will have a huge problem come November if not before.
When Mitt Romney Came to Town!
Was he a job creator or a corporate raider?
That’s the question this film answers.
And it’s not pretty.
Mitt Romney was not a capitalist during his reign at Bain. He was a predatory corporate raider. His firm didn’t seek to create value. Instead, like a scavenger, Romney looked for businesses he could pick apart. Indeed, he represented the worst possible kind of predator, operating within the law but well outside the bounds of what most real capitalists consider ethical.
He is exhibit number one the left wants to use in the coming election to give capitalism a bad name.
He and his friends at Bain were bad guys. Any real capitalists should disavow Romney’s ‘creative destruction’ model that made him wealthy at the expense of thousands of American jobs.
Mitt Romney and his cronies pioneered ‘deindustrialization,’ a process by which they searched out vulnerable companies, took them over, loaded them with debt, and collected obscene fees while doing so. He sent jobs overseas or killed them altogether, and then picked apart the remains – including pension funds – before the companies went bankrupt.
Some might call that the free market. Most of us think its just plain wrong.
If you wonder why America has lost so many manufacturing jobs overseas, look no further than Mitt Romney – the King of Bain.
Think you know Mitt?
Think again . . .