Romney’s Bain Stain

Photograph by Emmanuel Dunand/AFP/Getty Images

A demonstration against Mitt Romney in front of the Waldorf Astoria hotel as Romney holds a campaign fundraiser in New York on March 14, 2012.

When Newt Gingrich released a 28-minute film painting Mitt Romney as a corporate raider who profited from struggling companies, the Romney campaign said it expected that type of criticism not from Republicans, but from President Obama.

That criticism has arrived.

The Obama campaign opened a new line of attack today with a website aimed at undermining Romney’s claims that his business experience makes him more qualified to turn the U.S. economy around. hits the former Bain Capital chief with what the Obama campaign says are case studies of companies whose workers suffered under Bain’s ownership, featuring a six-minute video about GST Steel, a Kansas City plant that Bain bought in 1993 and which later filed for bankruptcy. Shorter, ad-length versions also exist.

“It was like a vampire,” says Jack Cobb, one of the plant’s workers depicted in the video. “They came in a sucked the life out of us.”


The criticism mirrors the same attacks leveled at Romney during the primary campaign season. Gingrich and Texas Governor Rick Perry, who have since endorsed Romney, previously called the Republican frontrunner a corporate raider who stripped businesses, loaded them with debt and laid off their workers for profit.

The film Gingrich released in January, entitled “When Mitt Romney Came to Town,” depicted Romney as a son of privilege and a financier “more ruthless than Wall Street.” A review by Bloomberg News found that the film at times stretched the truth and took some reports out of context or selectively edited them.

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