Mitt Romney turns out to be a job creator, for other nations and their workers. The Washington Post revealed yesterday that Bain Capital, under CEO Mitt Romney, outsourced American jobs.
Bain is a legitimate election issue because it tells us what sort of man, what type of executive, Mitt Romney is and what to expect of a President Romney. He says he is a job creator and so must establish his credentials as thus. This makes this story devastating because it turns out his track record is not only one of vulture capitalism but vulture boss. Bain owned forty companies, seven of which went bankrupt. For the singular success of Staples there were too many other companies looted and extorted for private gain.
The fact Bain made money by displacing American workers with foreign ones is something every working person needs to know prior to entering the voting booth.
“They’ve been able to put American businesses out of business and kill American jobs,” he told workers at a Toledo fence factory in February. “If I’m president of the United States, that’s going to end.”
As usual Romney is talking out of both sides of his mouth. While promising to reverse outsourcing to voters he did it as an executive. What do we rely on words or actions? Actions always are louder than words. I often tell people rely not on what a politician says but what they do. Romney will sell you out.
Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field.
Obama’s strategic adviser David Axelrod (a Pennsylvanian by the way) had this to say:
“Tonight’s story in the Washington Post exposed Mitt Romney’s breathtaking hypocrisy. He has campaigned all over this country, vowing that he would be an advocate for American jobs. But tonight we learned that he made a fortune advising companies on how to outsource jobs to China and India. Maybe that explains why, despite his campaign rhetoric, Romney continues to support tax policies that would reward companies who send American jobs overseas.”