Romney: Bain `Harvested’ Profits, Seen in Newly Unearthed Video

Mother Jones, the magazine that first publicized the comments of Republican nominee Mitt Romney describing 47 percent of Americans as “victims” dependent on federal largesse, has released another video showing the former Massachusetts governor characterizing Bain Capital LLC, the firm he co-founded, as a partnership to invest in companies, help manage them and then “harvest them at a significant profit.”

The 1985 video was on a CD-ROM marking the 25th anniversary of Bain & Co., the consulting firm that Romney left to help form Bain Capital, according to the magazine.

“In addition to starting new businesses,” Romney campaign spokesman Ryan Williams responded in an email, “Mitt Romney helped build Bain Capital by turning around broken companies, creating and saving thousands of jobs. The problem today is that President Obama hasn’t been able to turn around our economy in the same way.”

The Obama campaign responded with a statement from Randy Johnson, a former worker at American Pad & Paper, a Marion, Indiana-based company once owned by Bain that closed in 1995.

“Romney’s business experience was never about creating jobs,” Johnson said. “Romney’s own words prove that his focus was putting profits before people from the very beginning.”

 

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