Anti-Romney Movie Attacks to Bain Career

ABC News ^ | 01/08/2012 | z. Byron Wolf

[katiedidit1]

Supporters of Newt Gingrich have bought the rights to a new short movie that is very critical of Mitt Romney’s tenure as head of Bain Capital.

Romney’s business career made him a very wealthy man, but has come under some criticism because Bain bought some companies and put them out of business.

The movie, called “King of Bain, When Mitt Romney Came to Town,” has not been distributed, but has been viewed by ABC News. It was made by former Romney supporters and intersperses interviews with some workers who blame Romney’s company for losing their jobs with ominous music. At one point it focuses on K.B. Toys, which made money for Bain even as it closed stores.

[katiedidit1]

Romney claimed he created 100,000 jobs. There is nothing that verifies that..."No one has been able to produce a full accounting of job gains and losses from the scores of companies Romney dealt with at Bain. But a Los Angeles Times review of Bain's 10 largest investments under Romney found that four of the big companies declared bankruptcy within a few years, costing thousands of jobs and often pension and severance benefits. Read more here: http://www.sacbee.com/2012/01/07/4170675/fact-check-romney-struggles-on.html#storylink=cpy

[greyfoxx39]

This is a BIG MISTAKE. Mittens’ involvement with Bain is the best thing he has ever done. He has a record to be proud of for his work with Bain. Any capitalist knows this. Gingrich is too cute by half for attacking this.

Why attack him? Easy. We want him to go away and never come back as a candidate again. He can never defeat Obama.

"During his campaign, Republican candidate Mitt Romney has preached a message of economic populism by vowing to fight to keep jobs in America. We take a look at Romney’s days heading up the buyout firm Bain Capital with Los Angeles Times reporter, Bob Drogin. He writes, "From 1984 until 1999, Romney led Bain Capital, a Boston-based private equity group that earned jaw-dropping profits through leveraged buyouts, debt hedge funds, offshore tax havens and other financial strategies. In some cases, Romney’s team closed U.S. factories, causing hundreds of layoffs, or pocketed huge fees shortly before companies collapsed."

Romney’s Bain Capital Profited Through Offshore Tax Havens, Closing U.S. Factories, Laying Off Workers

[katiedidit1]

Georgia Girl 2, I think we should hear the other side of Bain from the workers. Romney brags on creating 100,000 jobs but now he backtracks on that...like he does on so many issues. There is a lot online about Bain and while some is good...some is shady. Mitt must be having fits about this movie coming out. I guarantee you his advisors are working on damage control right now

[faucetman]

Mitt Romney was just a businessman, a CEO. Sounds great. Not sure what exactly he did there.

Obama was a community organizer. Sounds great
Not sure what exactly he did there.

Move Along, Nothing To See Here (sarc)

[VegasCowboy]

Great. So now Republicans are going after capitalism?

[onyx]

Obama and the democrats licking chops awaiting nominee Romney!

Aside from an abortion loving hypocrite, and serial liar, he’s a cut throat, corrupt politician and up to his neck in off shore business dealings that prevent him from showing his tax returns.

[montag813]

Gingrich embraces Socialism again. WTF? Since when do people have a RIGHT to a job? If a company is run like crap, and 5,000 people were hired stupidly, then they need to be fired, or the company will DIE, jeopardizing far more jobs. The only person Newt helps by denouncing venture capitalism is Obama.

[X-spurt]

With all the slime Romney’s buds have been hammering Newt with, Newt’s earned the right to hit back with anything as long as it factual. Bain sounds like a very predatory holding company and Mitt was the driver.

Mitt started the mud, if you can’t do the time, don’t do the crime.

[o2bfree]

I think we’ve entered the twilight zone. What we’re being told:

Big Government DC Experience > Successful Business Experience

[xzins]

This is a BIG MISTAKE. Mittens’ involvement with Bain is the best thing he has ever done. He has a record to be proud of for his work with Bain

I wholeheartedly disagree. Bain was enriched many times by anti-free market practices that are not free market capitalism.

They would buy a company like AMPAD, have it borrow enormously, would take huge fees out of that borrowed money, and would then so over-burden that company with acquisitions and hyper-borrowing that it would fail, declare bankruptcy, pay pennies on the dollar to creditors in bankruptcy court, and Bain, in the meantime would be laughing as they socked away millions via manipulating bankruptcy laws. That is not free market capitalism. It is corruption.

[danielmryan]

I must say this is very odd. Freepers backing a NYT socialist hit piece on Romney.

If I were a cynical and calculating Democrat strategist who happened along this thread, I'd be asking myself: "what else can we get these right wingers to swallow?"

There's a reaon why lawyers swear by this maxim: "You can pretend to get angry, but once you get really angry you lose." There is a type of person who finds angry people easily manipulable, although that happens to be a knack I lack.

[danielmryan]

Whups, "reason." I should watch myself a little more closely...

[greyfoxx39]

Aside from an abortion loving hypocrite, and serial liar, he’s a cut throat, corrupt politician and up to his neck in off shore business dealings that prevent him from showing his tax returns.

Not only that, since no one sees his tax returns, there is no record of his millions of dollars paid in tithing to the mormon church. Though members are commanded to pay 10%, there is the possibility that he is "paying" much more than that, and the favor is being returned "in kind" with the church providing the impetus for members to volunteer...and VOTE!

Mormon politicians are hand-in-glove with their church in UT.

[azcap]

“Santorums surge” from the media is not te media saying they think he is easier to beat than Romney. It is the medias way of keeping the non-Romneys (70%) divided for a few more weeks until Mitt can lock it up. Conservatives are suckers.

[lonevoice]

The point is that Romney is a corporate rebuilding expert for creating profits. The Reagan model is supply-side driven, driving tax-rate reductions, deregulation, consumer based ground up growth. This is where Newt has credibility. There is a big difference between creating profits and growing a ground-up economy. This is where Newt has an advantage because as Prof. Laffer states, Newt has credible experience doing this. Newt can lay claim to helping create 11 million jobs. Romney did create profits but in no way does his model comprehensively trigger consumer confidence and wide-spread growth. This is what I hope is clear to the SC voters.

Good post! As far as what may be clear to SC voters, I really do wonder if this is a distinction that the average voter will understand. If not, it may only serve to fire up more of the OWS-sort of class warfare, union thuggery, and increased gov't regulation advocacy that the Obamanation is using to drive this country straight into socialism. Reading some of the comments here, I'm not so sure.

[untwist]

I saw one of the commercials yesterday with a man who worked in steel for 30 years and was forced out on one of Romney’s deals and had no further recourse. This is a working-level guy who from his perspective had a ‘covenant’ with his employer for many years. That may not be a legal promise, but when you are in for 30 years and lose your job and there is no recourse and no small business incentive, it is natural that you will experience a terrible rejection and despair at seeing no options.

In the Reagan years, there was a tremendous amount of small business growth in construction, assembly, computers and high tech, telecommunications and on and on. The service industries grew in proportion with an increased production model. The problem with Romney’s model, and I see it in my industry, telecommunications engineering, is that the corporate restructurings invariably need to force labor overseas. This is because of the comparatively very high cost of labor as we see in the auto industry. We need to look at what it took in the 80’s to push deregulation as well as tax reform through congress. Look at the 90’s when after becoming Speaker, Gingrich passed Tort reform but Clinton twice shot it down. It was an election year and Billy needed the money coming in from the Trial Lawyers. It was a huge problem that now strangulates our medical industry.

Look at what what happened during the 96 campaign when Clinton had Chinese mobsters in the White House and military and satellite and telecom secrets were ‘mysteriously’ ending up in Chinese hands. Newt formed the Burton committee to go after this treason and was eventually hamstrung by all these withnesses who disappeared or had a collective case of amnesia. Newt understands the critical nature of our secrets as well as our vulnerability of losing business to our Chinese ‘friends’. I can tell you that in my industry, the intervening years from Clinton’s time to now have been catastrophic for hundreds of thousands if not millions of jobs just in telecom alone. Newt has the credentials and wherewithal to put our country and our people first. That is part of his history.

No other candidate in this race comes close to his leadership. This is why the liberals and moderates are doing all they can to kill his campaign. I remember all he has done for our country and I continue to contribute to Newt’s campaign.

[b9]

BUMP to a terrific post!

[b9]

Newt is no fool. He would not go with this unless there was substance... Agreed.
Saw a movie just last week that seems right up Romney's cold, dark alley.
THE COMPANY MEN

[b9]

I truly believe Romney hates us every bit as much as Obama.

[katiedidit1]

One of the best post I have read in awhile. Could I steal it? lol