Over the course of his career at Bain Capital, Mitt Romney was responsible for the creation of thousands of jobs. Mostly in the midwest. Of Guangdong province…
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.
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.
The morality and economics of outsourcing are a bit murky. After all, the improvement in the livelihood of millions of Chinese and Indians has to count as one of the biggest success stories in economic history. And the lives of American consumers are improved by access to inexpensive foreign-made goods.
But the politics aren't complicated at all…
Speaking at a metalworking factory in Cincinnati last week, Romney cited his experience as a businessman, saying he knows what it would take to bring employers back to the United States. "For me it's all about good jobs for the American people and a bright and prosperous future," he said.
He knows how to bring back jobs because he's the one who sent them away.
And if the barrage of attack ads unleashed by the Obama campaign does manage to paint Romney as a job-destroying plutocrat, at least Bain Capital will be responsible for destroying a rich guy's career for once.
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Tags: Bain Capital, China, Economy, India, Mitt Romney