Bain Capital is quickly becoming the bane of Mitt Romney’s existence. Just when the Romney campaign seemed to think that the news of dealings of Bain Capital, Mitt Romney’s former company, was fading from the headlines of 2012 election coverage, The Washington Post broke a story revealing that Mitt Romney and Bain Capital were actually pioneers in the outsourcing of American jobs to low wage countries like China and India. In an election year where the concerns of middle class, lower middle class, and poor Americans revolve around job creation and the economy, a candidate’s involvement in anything like the Bain Capital scandal, and especially the killing of American jobs, is about the worst thing imaginable for a political campaign.
The Obama Campaign has, thankfully, wasted no time in releasing political ads aimed at Mitt Romney’s ties to Bain Capital, and what the company actually did to American jobs, and, in turn, the American economy and middle class families. There is even an ad that dubs Mitt Romney “Outsourcer- in- Chief,” that highlights Bain Capital’s investments in companies whose main purposes were shipping American jobs overseas. The ads also question whether or not Mitt Romney will be committed to creating jobs here in the states, or if he will continue to invest in businesses that profit from cheap labor in countries in the developing world.
The Bain Capital scandal not only reveals just what Mitt Romney did as head of the company, but it also destroys his claims that his success as a business man is an indicator that he can be a success for the American people. As a billionaire who was definitely born with a silver spoon in his mouth, no matter the claims of his supporters to the contrary, Mitt Romney is already extraordinarily far removed from what life is like for the average, struggling middle class American. His work at Bain Capital proves it, as do several of his gaffes on the campaign trail with regards to jobs. He joked of closing down auto plants on one occasion, and spoke of having friends who owned Nascar teams on another. If these were attempts to connect to mainstream America, he failed miserably. Mitt Romney’s success at Bain Capital now represents a failure for the American economy and the American people, and he can no longer say that his business savvy ways are good for the country, because they have been anything but.
As if that weren’t enough, Bain Capital and Mitt Romney have also been linked to jailed junk bond king Michael Milken. In a risky attempt to quickly yield $300 million, Mitt Romney , while leading Bain Capital, worked closely with Michael Milken and Drexel Burhnam Lambert INC, a company that was, at the time, under federal investigation. Instead of proceeding with his usual caution, Mitt Romney risked his own reputation and that of Bain Capital and went ahead with the deal. It would become a hallmark of his career, yielding a $175 million profit for himself, Bain Capital, and his investors, thus shifting from acquiring new companies to buying established, but financially endangered businesses. This venture is now coming back to haunt Mitt Romney’s campaign, as Bain Capital is now not only known for outsourcing jobs, but for dealing in business matters with a man and a company that were in great violation of the law.
Mitt Romney’s success at Bain Capital has been a precarious subject on the campaign trail. On the one hand, he did prove that he is a successful business man who is willing to take risks to make large sums of money in a short period of time. On the other hand, the things done to make that money definitely hurt the American people, the very people he claims to be committed to helping, should we give him a chance in the Oval Office. However, how can we give a man we know is responsible for the loss of so many American jobs, and has been involved in business dealings with the star of one of the most infamous scandals of the famed junk bond era?
The bottom line is this: Mitt Romney was very good at making money for himself. This does not mean that he understands what it means to make money and create jobs for the American people. After all, he has never resided anywhere but in the world of the ultra rich and elite one percent. And what, praytell, does that have to do with the average American?
At the end of the day, we do not need a Commander –in- Chief who knows nothing about what the average American family goes through financially, nor do we need someone who is committed only to his own ends leading the country in such troubled times. Mitt Romney’s leadership of Bain Capital and the resulting scandals show that he is both of those things, thus making him a very dangerous person to become President. If the revealing of just what Bain Capital was about under the leadership of Mitt Romney does not convince America to vote the other way, then I don’t know what will.
By Shannon Barber; “Changing the world, one mind at a time.”
Bain Capital Scandal: Will it be the Downfall of the Romney Campaign?
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