Bain is Romney's Bane
Mitt Romney, from the very beginning of his president-seeking campaign, has presented his running of Bain Capital, his private equity firm, as demonstrating his excellent understanding of business and his outstanding ability to create jobs. However, an investigation shows that Bain sent American jobs overseas. Bain is Romney's bane.
The Washington Post did a story on Bain Capital and found that Bain was part of the movement for transfering American jobs to China, India and other countries:
"During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission."
This is pretty clear cut. Here's Romney campaign's non-answer:
"This is a fundamentally flawed story that does not differentiate between domestic outsourcing versus offshoring nor versus work done overseas to support U.S. exports. Mitt Romney spent 25 years in the real world economy so he understands why jobs come and they go. As president, he will implement policies that make it easier and more attractive for companies to create jobs here at home. President Obama's attacks on profit and job creators make it less attractive to create jobs in the U.S."
Romney says nothing about whether he sent jobs overseas. He knocks the authors because they don't know the difference between "outsourcing" and "offshoring." Isn't this terrible? A smarter Romney could have found a better way to not answer the question.
Romney knows how to make money. This is obvious. But he does not have a clue about how to produce jobs for the millions of Americans who are unemployed. A big flaw in a guy who wants to be president. Not only does Romney not know how to create jobs, he has used his talent to ship American jobs overseas. Terrible.
Bain Capital is not something to be proud of. Bain is Romney's bane.