Tuesday, January 10, 2012

A Black Eye for Bain Capital

In his quest to upstage his opponents, Mitt Romney bragging shamelessly about his years on the job at Bain Capital made a serious gaffe. In his gaffe on Monday, on the eve of the New Hampshire Primary, caused a self-inflicted wound when he said "like to fire people". It was an attempt to try to justify actions taken in a bankruptcy of a company verse shutting it down, and Mitt explained how he personally "like to fire people", which is exactly one of the things he did while at Bain Capital. Three of his opponents, Newt Gingrich, Jon Hunstman and Rick Perry have all jumped at the chance to use his words against him. They say Mr. Romney touting his experience being a job creator should be painted in a different light; Mitt self portrait should be on one destroying companies for the purpose of making profits and not job creator.

Mr. Romney not only shot himself in the foot making this revelation, but it seems likely he also have gave Bain Capital a black eye. Now, the company is being called Bain Vulture Capital because of the predatory tactics used in buying up companies and then scrapping them for profits, putting thousands of Americans out of work.

Tonight, Mr. Romney can enjoy a 37% win in the New Hampshire Primary, but will his winning streak continue as his opponents develop ads to capitalize on this gaffe.

No comments: