Mitt Romney’s financial company, Bain Capital, “invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India,” the Washington Post reports. “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.” More details: “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.” (via: Political Wire)
Charles P. Pierce points out:
This vast new Washington Post report about how Willard Romney and his money-chewing friends got really wealthy by investing in companies dedicated to shipping American jobs overseas is yet one more reason why the Obama campaign really shouldn’t have slacked off from tearing into Romney’s career at Bain Capital just because Cory Booker, and Ed Rendell, and Bill Clinton got nervous about it. It also should set off another spate of really remarkable lying from the Republican candidate over the next few days.
While economists debate whether the massive outsourcing of American jobs over the last generation was inevitable, Romney in recent months has lamented the toll it’s taken on the U.S. economy. He has repeatedly pledged he would protect American employment by getting tough on China. “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.”
Willard Romney — friend of the working man. In Shanghai.
Surely the GOP base sheeples will say: Okay, I’m unemployed or barely getting by — maybe thanks in part to Mitt Romney and Bain Capital and everything they stand for. But Romney’s rich — and that’s the way America works! If you “punish” success* you’re a socialist.
*and let’s narrowly define ‘success’ as wealthy, regardless of how the wealth was accumulated.