WASHINGTON – Mitt Romney’s campaign, following several days of intense attacks on his experience at Bain Capital, said it welcomed the discussion.
“Look, we’re happy to compare Governor Romney’s record of success -- both at the state house in Massachusetts, and as a businessman for 25 years in the private sector -- to the lack of real world economic experience of President Obama,” Eric Fehrnstrom, a senior adviser, told reporters on a conference call on Wednesday morning.
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Sorry Eric Fehrnstrom (you paid political hack). There is no Governor Romney record of success. After eight years of the Dukakis administration (which, at the time, was dubbed the Massachusetts Miracle), Mass voters stupidly switched to Republican governors for 12 long years (Weld, Celucci, Swift & Romney administrations). The result: Massachusetts went from the Miracle to 47th out of 50 states in job creation. Now, after 5 1/2 years of the Patrick administration, Massachusetts is finally back again near the top in US job creation. And, Mitt Romney's private business record is sketchy at best. Sure he made loads of money for himself and his investors. Remember: Bain's objective under Romney was ONLY maximizing investor returns. Bain under Romney could care less for job creation. Worse, they didn't care if they had to take people's livelihoods away so that Romney and his investors got their returns. Bain had once engaged in what many see as a good form of private equity -- that is, investing in start-ups (so-called venture capital). But Romney soon changed that when he took over Bain. Romney moved Bain towards leveraged buy-outs (so-called vulture capitalism). In an LBO, Romney used the takeover target company's own assets as collateral for loans he used to buy control of the company. Once Romney got control, he milked all the money out of the company for himself and his investors. Commonly, Romney would loot the pension funds -- in essence, steal from the employees. Bain under Romney perfected the devilish art of taking the hard-earned profits of thousands of man-years of other people's efforts simply by shuffling papers (and never risking any of Bain's own money). Under Romney, Bain specialized in profiting while ruining the lives of thousands of families and destroying dozens of communities. When Romney's Bain came to town, Bain took all the money and left unemployment in their wake along with all that unemployment brings (alcoholism, substance abuse, spousal abuse, crime, shuttered homes & shuttered main street businesses, broken families and broken dreams). Romney also like to tout Romney running to the rescue of the Salt Lake City Winter Olympics. That rescue was made possible ONLY by a big, fat US Federal Government bailout. Put that in your tea party pipe and smoke it, Eric Fehrnstrom (you weasel).