VIDEO – King of Bain: When Mitt Romney Came To Town. This film from Winning Our Future (Republican Newt Gingrich’s super PAC) exposes Mitt Romney’s tenure at Bain Capital.
This documentary was not produced by the Obama campaign, the Democratic Party, or any other liberal group. This video was actually produced by Republicans from Winning Our Future super PAC on behalf of Newt Gingrich. It was released during the GOP primaries back in January 2012. Fellow Republicans have already shown America what Mitt Romney is all about. Now, they are hoping you forgot what they said about Romney just months ago.
Mitt Romney is running for president on the platform that his business experience makes him the right man to “create jobs”. But his experience at Bain Capital tells another story: his business “success” centered on a model of taking over companies, slashing as many jobs as possible, loading them up with debt, paying his Bain Capital millions in management fees, and then bankrupting the company and selling off its assets.
The Bain Capital system is often referred to as “creative destruction” or “vulture capitalism”. It revolves around the taking over a company to cut as many jobs as possible to add to the immediate profits for the new investors. When possible, operations that can be moved overseas are moved to low-wage countries in the third world like China or India. Then, to maintain the bare essential staff needed to keep the company’s American doors open for awhile, existing employees are actually laid off and asked to reapply for the same jobs at lower wages with reduced benefits. Once the profits are increased via the reduction of employees, outsourcing, and sale of assets, the acquired company pays its new owner, Bain Capital, millions in management and consulting fees. These fees are the guaranteed “profits” taken by Romney and Bain. The acquired company is then loaded up with debt before filing for bankruptcy.
Behind a deceptive warm smile and congenial demeanor, Mitt Romney is a cold and calculating CEO who pays little regard to the “small people” (a.k.a. the 47%) who are ruined by his business deals. He has made a career out of fleecing the livelihoods of working class Americans to create profits for rich, Wall Street investors. He “quit” Bain Capital to run for president, hoping more recent Bain deals like Sensata could not be linked to him. But Romney stands to gain millions by the closing of Sensata.
The irony now is that Mitt Romney is running for president as an experienced “job creator”. But a look into the main sources of his campaign and super PAC funding reveals the few Wall Street tycoons who account for most of his support. They are hoping to get a puppet in the White House they can control for their own financial gain. And Romney is their perfect ally, saying anything to trick working Americans into voting for him. This is why Romney’s positions on everything are fluid, changing with each interview and debate. The only thing Mitt Romney stands for is vulture capitalism and the top 1% that he represents.