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BLITZER'S BLOG: Will Bain Capital attacks on Romney work?
May 15th, 2012
03:20 PM ET

BLITZER'S BLOG: Will Bain Capital attacks on Romney work?

By CNN's Wolf Blitzer

(CNN)
- President Barack Obama and his campaign supporters have gone to the Rick Perry and Newt Gingrich playbook big time to try to weaken Mitt Romney.

At issue is Romney’s tenure at Bain Capital, the venture capital firm.

Like Perry and Gingrich camps, the president’s re-election campaign and the pro-Obama super PAC are pointing to the loss of jobs at some companies purchased by Bain Capital. The stories of the people who suffered are painful and dramatic.

This strategy has a long history of being used against Romney. It has a mixed record.

It helped the late Ted Kennedy in 1994 when he faced a Senate challenge from Romney. Kennedy, the Democrat, highlighted those heartbreaking stories in the Massachusetts general election.

But it didn’t work so well for Perry and Gingrich during the Republican primary season.

The question now is whether it will work for Obama over the next six months.

Anyone who watches the pro-Obama videos of the workers who suffered can’t help but be moved.

But Romney and his supporters point to the other side of the story - the many successful companies that Bain Capital helped get off the ground.

Tens of thousands of people are now employed by those companies, including Sports Authority, Staples, Domino’s Pizza and Bright Horizons, a child care company.

Still, by putting Romney on the defensive, the pro-Obama camp hopes to shift the focus of the campaign.

Republican strategists say they understand what the pro-Obama team is trying to do. For Obama, they say, it’s better to force Romney to defend his record at Bain than force the president to defend his record at the White House.

In the end, all this probably will be a sideshow. The real battle between Obama and Romney will be over the economy and how they plan to deal with it. I’m already looking forward to their three presidential debates in October.

Follow Wolf on Twitter: @WolfBlitzerCNN

RELATED ARTICLE: Pawlenty defends Romney against Bain criticism

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Filed under: 2012 election • Barack Obama • Mitt Romney • Politics • Situation Room • Wolf Blitzer
soundoff (123 Responses)
  1. icon collection

    Probably, I am mistaken.

    October 8, 2012 at 1:26 pm |
  2. Naldo

    Most right-wing critics quteison the federal government's ability to mandate coverage. Start with for the clear explanation of why the federal government can impose a requirement to buy insurance if coverage is affordable.At the state level, a case was filed challenging the statute. The plaintiff's case was dismissed by the court, as was the appeal.

    August 1, 2012 at 7:00 am |
  3. tediland

    please give our president some respect, he deserves it,you know the old saying you have to give respect in order to receive it. There is nothing more disrespectful than saying our president is another race and religion,what if people said you were not jewish and you are actually mormon,or you are not catholic but greek orthodox, or you have a hidden agenda for how our nation should work because it is not working correctly. WOLF why are you so into bringing down the president all of the gop presidential nominees hated romney why are you holding up his jockey strap the man is wrong for this country.

    July 25, 2012 at 6:39 pm |
  4. Shills

    No/Yes This is all about solidifying party lines voters. The only thing both parties are after are independent and on the fence votes. No those won't be gullible to side with Obama ads and Yes some will be gullible to side with both parties ads. Sad but true. People don't check the 'facts' though we have the Internet.

    July 17, 2012 at 2:58 pm |
  5. Floyd Wood

    I'm a Combat Veteran from a unpopular war. Me and many more like me fought for freedoms that gave everone the rights to free interprise and to to make money, worship, freedom of education, freedom of religion and freedom of press. Now because a man made money in our system people such as our news media and people in our private sector want to condem a man who made money and now wants to run for President and be able to keep these freedoms alive he's condemed. I'm speeking about and for Mitt Romney. I fought for these freedoms and DEMOCRACY NOT SOCIALISM.

    July 13, 2012 at 6:49 pm |
  6. Michelle Foyt

    I watched Wolf Blitzer hammer Debbie Wasserman Schultz yesterday. I haved noticed his shouting down other Democrats. He seems hypercritical of President Obama and supportive of Mitt Romney. I get the impression that cnn has dropped the facade of "news," and now competes with Fox for Republican best interests. I'm sorry that cnn has become less and less reliable for an objective presentation. It appears cnn answers to its corporate owners.

    May 16, 2012 at 5:01 pm |
    • Gretchen

      I've noticed that as well,maybe the republicans have him as well as others as their media insider,to Bash Obama.I also have friends who think the same maybe CNN or time warner should be put on notice about the bias News on this presidential race.I'm very dissapointed in CNN for what seems to be "playing favorites,they use to project fairness.

      May 16, 2012 at 8:10 pm |
  7. daris

    Today is 5/16/12 and big corp have not changed there was. Chase just 2 billion with little or no regulation and romney wants more of the same. He doesn't create jobs he makes money by any means. So yes at every turns bring his history up because some of use need to be reminded everyday of who this person is

    May 16, 2012 at 1:57 pm |
  8. J.D. in New York

    Yes:

    And congratulations to the Obama administration for calling attention to what Governor Romney himself refers to as his biggest qualification for the most important office in the world.

    The point discussing Bain is not the particulars of businesses like GSI industries. Come November, nobody is going to remember the particulars of GSI industries, although my heart goes out to the poor workers who were laid off by the company of the man of a thousand flip-flops. The point of these advertisements is to make sure the American people are aware of these facts: (1) the goal of Bain Capital was never to create jobs, it was to make as much money as possible, with no concern for the workers that had to be stepped on to accomplish that goal; (2) Bain Capital very often loaded companies up with debt, which actually made it harder for them to succeed, but easier for Bain Capital executives to find places to withdraw management fees for themselves and which is especially interesting at a time when Romney is criticizing Obama for bankrupting the country, and (3) Bain Capital executives took out management fees even when they FAILED to turn the company around.

    So, when the man of a thousand flip-flops tries to fool the American people with the help of Wall Street financed Super Pac attack ads by talking in vague generalities about his time in the private sector as a "conservative businessman," the American people won't be remembering, don't need to be remembering and should not be remembering the particulars of GSI industries, (although it certainly doesn't hurt the President if they do) but for the sake of this country, I truly hope they remember that "conservative businessman" is Romney-speak for loading companies up with debt, taking out management fees despite failure and maximizing profits without concern for average Americans.

    May 16, 2012 at 1:24 pm |
  9. ksboston

    Romney's narrative is that sometimes you win, sometimes you lose in capitalism. He created or grew some companies, and failed in others. According to this narrative, he should only make money when his companies succeed.

    A different narrative says that Bain under Romney bought companies, sold their assets, loaded them up with debt, then sold the shell, paying himself big bucks while virtually insuring the failure of the companies and the resulting loss of jobs.
    Which narrative is true?

    According to the WSJ, of the 10 biggest money makers that Bain had under Romney, 4 of the ten went bankrupt either during Bain's ownership or within 2 years of Bain selling them. Healthy companies don't go bankrupt in two years. If they died because of external shocks, then they were weak to begin with – In the face of the financial meltdown of 2008, Romney put all the blame for GM & Chrysler's problems on their internal weakness. He didn't credit any of their problems to circumstances. – Of all of the deals Bain did, any 4 of the top ten money makers must have been HUGE moneymakers – for Bain. If these companies went bankrupt almost immediately thereafter (or during) Bain's ownership, then the 'profits' Bain extracted from them must have been a major contributing cause.

    Narrative #1 makes me feel all warm and fuzzy. Narrative #2 seems to better describe reality.
    Romney made money the old fashioned way: By being clever enough to bilk others out of their jobs, retirements, equity. Thats what Romney knows about creating jobs.

    May 16, 2012 at 1:19 pm |
  10. PTNY

    I want to hear more about Romney's successful businessman dealings.

    The USA will never be one of Romney's Venture acquisitions.
    He say's he's very, very successful at what he does but I hear NOTHING about how he's good at merging parties. Merging is part of his resume. Mergers and acquisitions! HA!
    He "brackets" his target, in this case Obama. Circles the wagons in parking lots like wolves going in for the kill. "Hostile takeover" This is Romney's MO.
    A huge part of his Bain company was in the health care management industry. This is where he will fall. Who will benefit from his State of Mass venture of his Health Care Bill, HIM?
    We'll see.

    May 16, 2012 at 1:15 pm |
  11. Matte

    The difference in the bailout and private restructuring thru bankrupcy is the creditors and subcontractors are still payed regularly and not put on hold. all the small business that make parts for the final product would have failed and closed under a bankrupcy restructure. this would have caused a cascading effect in our economy. very similiar to the great depression. nothing else could have worked for short term recovery. now we need long term recovery policies to continue growth. restructuring american production and manufacturing by not relying on outside sources.

    May 16, 2012 at 7:32 am |
  12. Mike Cornett

    It's going to be quite a battle. I just hate it that the two will say anything to win. Someday I would like to see a man of integerty run for President. I guess both these guys would sell their soles to the devil for a win.

    May 16, 2012 at 1:32 am |
  13. GetYourFacts

    Romney excelled at his job. But apparently the "American Dream" isn't' good unless it happens to you. He started with no money and made his way in life. Attacking how he worked bankruptcy isn't his fault, it is our legal system Every single one of you tries to find the most deductions and write-offs in your taxes.

    Additionally, the fact remains that he paid $6 million in taxes in one year...which is more than the majority of you will EVER contribute to our nations economy in your entire lifetime. Jealousy and hating people for being good at their jobs is frankly pathetic.

    Also, Obama has done nothing to create jobs and we are still millions of jobs behind under his administration. He has added about 3 million jobs, but in order to keep up with population growth in our country he should have 5 million jobs (Bureau of Labor and Statistics) So we are technically 2 million under with him.

    May 16, 2012 at 12:38 am |
  14. Just Saying

    Come on Wolf, I've seen you do a better job carrying obama's water than this. Tell us about 'bam's great record of leadership on things like ... oh wait ... lol ... just kidding. What was I thinking. SMH The 'ole Bamster doesn't know the first thing about leadership and his record on just about everything stinks.

    I do know this though, when it really comes down to it who else are you going to back? Romney? Please, I know better.

    May 15, 2012 at 10:37 pm |
  15. sam bonner

    Wolf Blitzer is an idiot. How do people like this get jobs in national media.

    The Staples, Domino's, and Sports Authority investments were not leveraged buyouts.

    Mitt Romney was an unethical businessman that forced companies acquired with other people's money into unsustainable debt, while Bain looted the firms to provide stock dividends to Bain shareholders (often the Bain managers themselves) and to pay Bain oversized 'management' fees.

    No one in his right mind should vote for Romney.

    May 15, 2012 at 10:21 pm |
    • osesfoods

      As Governor, lets see what Romney did for the middle class. The proof will be in the pudding. The things that would have been good that he did in Mass. he has spent the last few months denying and running away from during the primary. WHO DOES THAT? An overly ambitious man who has spent the years since freshmen college days prepping to be POTUS. It is in his DNA to want to win at all cost in business and the same is true now. Thats why he drown companies in debt while ripping off millions, that why he didn't care about leaving employees with the bills of the companies he shut down. WHO DOES THAT? Someone with no scrupples. My friends, you don't want someone with now scrupples running the country.

      May 17, 2012 at 1:52 pm |
  16. Manning El Paso, TX

    Mitt Romney dose care for poor, for medicare, social security, women medical, all he is going to care, if he become president is about Wall Street, Big banks and No taxes for the Rich and Big company's and high taxes for the middle class. that's what he has believe all his life!

    May 15, 2012 at 10:18 pm |
  17. Georgia Voice

    The President has come out and sat down with numerous interviewers and answered questions head on. Mr. Romney will only sit back and pot shot the President following interviews. Why does CNN and other media outlets air the pot shot when Mr. Romney will not sit down with anyone but Fox for and interview. I dont think his pot shot should be broadcasted by media outlets if Mr. Romney is not man enough to set down with some one other than FOX and give his stance and opinions on issues . I can't believe that shows like Morning Joe applaude his strategy to hide from media to avoid having to answer the questions of the people.

    May 15, 2012 at 9:40 pm |
  18. robert

    kinda likr whrn obama took over gm and forced all those dealers out of buisness

    May 15, 2012 at 8:06 pm |
  19. James Madison

    Mitt was a businessman at Bain and had a real job creating wealth and jobs for thousands of people. He had to make tough decisions when businesses were failing or were not profitable. These are all qualifications we want in a president who has to deal with the mess that Mr. Bush and Mr. Obama have left behind. Mr. Obama will probably keep trying to distract the electorate from his terrible record with the smokescreen of gay marriage and other periphery issues. He certainly can't run by touting his accomplishments.

    May 15, 2012 at 7:37 pm |
    • MikeH

      James, you Paid-Romney-Shill, Romney is/was a corporate raider. He destroyed viable companies to enrich himself and his cronies. Tens of thousands lost good paying jobs so Romney could rake in millions. The 'jobs' Romney created? Minimum-wage jobs at Staples. What's the turnover rate a Staples James. Aww, are you too much of a coward to state it?

      May 15, 2012 at 8:36 pm |
      • Gretchen

        People like wolf and the other followers of the right are there to protect the 1%,so the rich gets richer ,the middle class gets screwed ,and the poor is forgotten.

        May 16, 2012 at 8:14 pm |
    • Gretchen

      Really,he saved us from total financial depression,he ordered the killing of Bin Laden,he tried to get health care for all americans,he's the only president who signed the equal pay for women,he's gotten us out of Iraq,he's created over 4 million jobs,he kept the Bush tax cuts,he's making it easier for students to attend college,what more do you want for three years? and that's not all he's done so how dare you throw stones at this noble peace prize winning president.

      May 16, 2012 at 8:20 pm |
      • Michelle Foyt

        Mitt Romney is the CEO of the very rich and bows to their commands, because they are the only real engine behind his possible election. If Mitt Romney gets elected, I think it will be the end of our country as we know it. The rich will then be in total control. I will do everything I can to help Barack Obama get reelected. Right wing Congressmen will probably continue their assault on the law, the Constitution and Declaration of Independence and will probably push the country over the cliff of the economics not being dealt with.

        May 17, 2012 at 6:15 pm |
    • Michelle Foyt

      I'm sick of hearing right wing Republicans blame Barack Obama for the economy. The right wing has been trying to stop him since before he took office. Congress is paralyzed by a right wing ruse to stop the economy. They don't want to cut taxes. They want to destroy the country. The rich can divvy up the country into small kingdoms each headed by a rich guy. They don't care anything about the poor, middle class or general welfare of the country. Right wing Congressmen should be stopped from entering Congressional chambers. They think they are above the law. They are criminals, not lawmakers.

      May 17, 2012 at 5:36 pm |
  20. Jack

    ROMNEY 2012

    May 15, 2012 at 7:19 pm |
  21. Par for the course

    It's not surprising that our boy in the WH has to resort to negative campaigning. Not surprising at all...

    May 15, 2012 at 7:01 pm |
    • Chantal

      “Your boy” I am sure that was your father cleaning floors when he immigrated to the US. Obama is far superior to you, he became President.

      May 15, 2012 at 9:52 pm |
    • semperfidelis

      Conservatism is at par with low IQ according to some studies at Yale and Harvard...the studies show that the lower the IQ the more the person is susceptible to prejudice and racism...thus, becoming "conservative" or limited in its views about others outside of their social strata be it race or other social strata. A known fact among intellectuals is the fact that people who anger easy or live hating others actually lower their own IQ by a considerable amount, many times to the point or level of a mentally retarded person 70 IQ or less (i.e. – someone with an average IQ of say 100 can effectively lower their IQ in a bout of anger or who lives in hate of others can lower their IQ to 70 or below) Is it any wonder why when we become angry or live hateful lives we say and do things that we normally should not? This goes out to "par" when referring to a president our true colors sure do shine when we refer to the president as "boy" and he so happens to be black, as a suggestion, maintain an IQ of a normal citizen between 90-100 because anything below 70 becomes mentally challenging.

      May 15, 2012 at 9:55 pm |
  22. Doctor Bob, DC

    Private equity groups buy public corporations for the purpose of enriching a relatively small group of investors. Nothing illegal about that. The funds used to buy a particular company are mainly with debt that is ladened upon the victimized company. The group proceeds to enhance the company's balance sheet by cutting employees and paring down its products and operations. If successful, it goes public again, and the private investors make a very handsome profit. Again, nothing illegal about that.
    However, I am confronted with a basic observation about Mr. Romney and his Bain Capital experience. Like bullying the eccentric prep school student whose appearance he did not like, he freely fired employees who stood between him and great profits. Does this man have the sensitivity to put the unemployment problem on top of his priiority list, and do what is necessary to put people back to work? What if it involves increased taxes on people who can readily pay those taxes without any personal discomfort? Whose needs will top his list? Unemployed workers or his corporate CEO cronies?

    May 15, 2012 at 6:58 pm |
    • Ken

      Good comment Bob. Romney was successful at his job of getting companies competitive and profitable again. Now he wants to undertake another job that requires many of the same skills and experience he already has. Reading up on his resume has shown me me a few things. He is not an idealist. He is a realist who isn't afraid to think out of the box, and expects the same from those who work for him. He's only mildly interested in social issues like marriage and abortion and likely would give them little time on his agenda. He's a money guy, pure and simple. And anything, whether it be employees or regulations that can't justify themselves but cost money will be in trouble. He is kind and has plenty of empathy, so I believe the elderly, retired and children have nothing to worry about. The same goes for our air and water. Now the adult poor who aren't doing much to help themselves is another matter. He believes in self responsibility. Foreign affairs? Who knows. I expect him to focus first on doing whatever it takes to get business healthy and optimistic. That creates both jobs and revenue. And makes balancing the budget much easier. Is he up to the job? And will he be given a chance? We'll see.

      May 15, 2012 at 11:30 pm |
  23. Sirned

    Romney created wealth for himself by firing people.... So how is he a job creator....He was long gone with millions before any jobs were created....

    May 15, 2012 at 6:52 pm |
  24. Iamnotfooled

    He was wrong about the auto bailout. He was wrong to say about families going thru foreclosure-let them hit bottom. He was wrong to steal peoples pensions and livelihoods for his personal gain. He is wrong for going along with the Ryan Plan that will increase the deficit. His plan will increase the deficit. How is he a good business man? He has made all the wrong decisions.

    May 15, 2012 at 6:48 pm |
    • no obama drama

      What has Obama done for the country? How is that "Hope and Change" working out for you?

      May 15, 2012 at 9:39 pm |
  25. Pete

    Romneys Bain taking credit for creating thousands of jobs,NADA!This statement, if it were paper would line the bird cage at my neighbors house.Every one of these companies,if you look up their financial reports or histories will tell a much different story.They were all gutted,refinanced against,then left financially dead for other venture capitalists,the ones with some what of a heart and business sense that could restructure,making them financially solvent again.People were rehired,buildings updated,monies were spent wisely to erect these dead corporations,Bain thought they were after the gutting,making them once again financially viable in the retail and whoesale markets.Stockholders are now investing ,where people once were laid off and everything is back to better than ever.So don't let Romneys propaganda spin again one more thing,much like his helping Pres.Obama with advise ,in his quest to bail out the big three auto giants,after making the statement months ago"let them all go bankrupt" .But remember,hes a legend in his own mind,not anyone elses...

    May 15, 2012 at 6:18 pm |
  26. Investment Advisor

    People are very near sighted when villifying Romney on this issue....they are twisting the story to support their bias. I'm sure Bain did much more good than harm.

    May 15, 2012 at 6:12 pm |
  27. Dem

    The attacks on Bain Capital should absolutely continue, because they are justified. How can anyone in good conscience buy a company, charge consulting fees to it, and then borrow $500 million from it (when already in debt) take that money put it into Bain Capital then declare bankruptcy and shutter the company? That is the most corrupt crap I have ever heard. Had they not taken fees and borrowed money the company would have continued to operate, instead they used it to line their pockets while screwing over all of the employees, retirees, etc... it is the most UNAMERICAN practice ever.

    May 15, 2012 at 6:10 pm |
  28. JWR

    I'm sure that veterans and other people with technical, mechanical and electrical skills won't be knocking down the doors to work at those places mentioned such as Staples, Sports Authority, etc. They may not last long if the Republicans get in office continuing to move the wealth to the upper 1%. The lower 99% won't be able to afford a lousy pizza, it will be a luxury!!

    May 15, 2012 at 6:04 pm |
  29. Kevin Alexander

    What? Only three debates? I was looking forward to Debate Ad Nauseam Season! I expect no less than 15 debates in the span of 3 days!

    May 15, 2012 at 6:01 pm |
  30. MPLS

    It's hard to imagine jobs that would pay less than the retail positions at Sports Authority, Staples, Domino’s Pizza and Bright Horizons. Part-time, low wage, no benefit jobs. The only ones making any money there are the executives at the franchise home offices. But who else would Romney care about?

    May 15, 2012 at 5:48 pm |
  31. Dude Fl

    I wonder how many of the folks replying here know what a company like Bain really does. That is, do they understand that it is as much of a necessity to help the salvageable companies as it is to bring to an orderly close those that just won't make it in the market. And the accusations of "robbing the pension fund" and other accusations like that are absolutely ridiculous!! Now I know many of you writers don't like capitalism. And you are of the firm belief that the execs get rich "on the backs of the employees". Too bad you feel that way, as it probably shows through to your manager and employer and guess what, you end up getting the short end. Funny how that happens all the time in your life, eh?!? If Bain or others like them are guilty of crimes then they should be prosecuted and sued. Fine. That happens and justice can be served when there really is a crime. Otherwise, it's the market place at work folks. And for those of you who don't like it,I bet most of you aren't doing all that well and I also bet you are sure it isn't your fault. Oh, and back to Bain? I have heard that they "saved" 78% of the companies they invested in and had to close 22%. That doesn't sound like a bad batting average to me. And when you save that many jobs you SHOULD profit. Could you have done better? Have a nice day.

    May 15, 2012 at 5:45 pm |
  32. Barb Z

    I HOPE Americans pay attention to the Bain story. A week or so ago, the media was all aflame over whether we should be paying attention to the story about Romney bullying a fellow high school student decades ago. Well, yes, we should: the teen who bullied grew into the man who crushed the steelworkers and others without a backward glance at their plight and pain. That’s bullying on a grand scale. Did the same personality and character traits that fueled the teenage bully drive the man who rose to become the head of a bullying corporation? THINK, America. A bully is not going to become compassionate and fair minded and concerned about the people just because he is elected president. A bully as the most powerful man in the world? THINK!

    May 15, 2012 at 5:42 pm |
  33. George

    Obama lost 1000 jobs in the Solyndra bankruptcy in 18 months while wasting over half a billion dollars in taxpayer money in the process. The Community Organizer cannot even read a balance sheet or a financial statement, but thinks he should be in charge of the world's biggest economy.

    May 15, 2012 at 5:41 pm |
  34. Jimmy

    I hope you people stay home instead of vote, or do some homework. Obama's done nothing but do exactly what this forum is doing...Division. Look, if someone fouls Kobe Bryant (Lakers fans are screaming FOUL), but OKC is saying it was clean. No matter how much he increases my taxes, there will be idiots supporting Obama!

    May 15, 2012 at 5:40 pm |
  35. electrovibe11

    It won't matter because they can simply go after his abysmal record in Mass. 47th in job creation and .9% growth.

    May 15, 2012 at 5:37 pm |
  36. yoshi

    Businesses hire and layoff people all the time. That is how business works. Yet the Dems are going to act like you should let people work all the time, even if they are lazy or incompetent and even if the business is in debt and broke. Really, this is how these people think. Of course, no one is for layoffs. But guess what, ADULTS realize that layoffs do occur, that is reality. But the ignorant who believe they should not occur will be voting for Obama who has never run a business in his life. This is truly a sad state of affairs for America, if people are that dumb. Hopefully, Romney will play that up. Government can't create jobs to pay everybody, so we need to be stronger in the business sector and this is how it is done.

    May 15, 2012 at 5:31 pm |
  37. bmesc

    Heartbreaking job losses isn't the main weakness in Romney's Bain experience. What should be emphasized is that he was a return on investment creator, not a jobs creator. Jobs, and the people who held them, were not a priority. If, in the course of making money, they were created, they were created, if they were eliminated, they were eliminated. The human element was not a factor in Romney's decisions, and that's what America has in store for it from him.

    And of course there is the question, Who is he creating returns for? With such a narrow group contributing such a large portion of his funds, you have to wonder what's in it for them.

    May 15, 2012 at 5:31 pm |
    • bluebird

      Perhaps with Mr. Romney as President his ROI will be for the American worker and American infrastructure and American exports, and American investments, and the American economy, and the global market....

      May 15, 2012 at 9:14 pm |
  38. Common Sense Grandma

    Funny how the "success" stories are primarily low-paying jobs that don't always have benefits. The production jobs that were the mainstays of several communities are gone, often overseas where the workers do not contribute to our tax base, social security, Medicare or 401-K plans that benefit the USA. As a Job Developer, I deal frequently with Bain's "success" stories and will happily vote for President Obama again.

    May 15, 2012 at 5:30 pm |
  39. Peter in Toronto

    You say it didn't work in the Republican Primary? I'm not so sure. Romney ran against a clown car of candidates and STILL took months and months to clinch the nomination.

    It's not the fact that some of the Bain takeovers lost jobs and/or failed. It's the WAY they failed, and how Romney and Bain still made millions and millions by squeezing the cash out and saddling the companies with massive debt.

    May 15, 2012 at 5:28 pm |
    • Common Sense Grandma

      They also saddled the taxpayers with significant retirement fund costs. As for Romney's rivals, they could not have won had they faced a banana-munching chimp

      May 15, 2012 at 5:34 pm |
    • former republican now democrat

      Of course it will work. Look who the audience was for Perry's and Gingrich's attack – duhhhh other republicans who likely thought it was good thing to destroy jobs and get rich in the process.

      May 15, 2012 at 5:41 pm |
    • NotFooledByDistractions

      It's Romneys business model that is so offensive – heads he wins, tails you lose. It didn't matter if the companies survived being overburdened by debt or not – romney reaped massive profits. Normal business owners share the losses if a business fails, not romney. Why is he exempt from the most basic rules? I find that distasteful.

      I think the more we learn about romeys "business acumen" – the more folks will realize that his business experience is not relevant to the office of the presidency. You cannot run the country the way romney operated as a financier, a capitalist. He has no successful experience creating jobs – his record in Massachusetts stunk, and at bain he created wealth, not jobs. He doesn't have any enlightened solutions – he's recycling bush policy – the same failed policies that landed us in the deepest financial crisis since the depression. Do we really want to go for round 2?

      Romney also has ZERO foreign policy/national security experience – he's relying on bush leftovers as advisers. Lord help us!

      Romney is a one-trick pony auditioning for a multi-dimensional job. Running this country is a complex and complicated endeavor – being the leader of the nation on a global scale is a job I honestly don't feel Romney comprehends. There's more to running a nation than self-proclaimed "business acumen". Romney is proving to be less and less qualified for the office of the presidency each day.

      May 15, 2012 at 6:05 pm |
      • bluebird

        I beg to differ and so do a lot of other people.

        May 15, 2012 at 9:16 pm |
    • Kevin Wilson

      Agree with you here Peter – it only didn't work in that it wasn't enough to allow bad candidates to win. It still made a lot of people doubt Romney – and that's what the democrats want.

      May 15, 2012 at 7:58 pm |
    • bluebird

      I'm sorry have suddenly forgotten the democratic primary 4 years ago?

      May 15, 2012 at 9:17 pm |
  40. Blue

    The truth will work. Mitt is a crook and a bully, and he would take the clothes off of your back.

    May 15, 2012 at 5:27 pm |
    • scott

      That's funny Bain Capital took over our company reorganized it and kept us working. As for me Romney has my vote, Obama has done nothing for me.

      May 15, 2012 at 6:28 pm |
    • Paul

      Really? take the clothes off my back? Wow, Are you sure about that?

      May 15, 2012 at 7:12 pm |
  41. Timothy

    Mitt Romney is always talking about his success with Bain. To bring this issue up now even though it did not successfully work for Rick Perry or Newt Gingrich is alright to do. Some republicans are about capitalism taking over buying and selling and making a profit and there are some republicans who will vote for President Obama because of social issues more so than the issue of jobs. What does trouble me is unemployment is at 8.2 or 8.1 pecent and this according to america standards is unexceptable, still 91.8 of americans are still employeed... this country is amazing we could be a third world country where unemployment is way above 25%. Furthermore, even if we have 100% employment and jobs are available some people still choose not to work. There are jobs it may not be what one was making but when you are in need you will work. Moreover, If you really want to blame anyone blame a lot of republican governors whom have embraced this philosophy "no new taxes" give breaks to corporate america. Yes, the Bain affect is going to work.

    May 15, 2012 at 5:23 pm |
    • Dude Fl

      Tim, Tim, Tim: Who in the world educated you?? Do you REALLY believe that our unemployment is 8.1%?? Don't you know that that number only represents those who are looking for a job now?! It does not count those that for one reason or other are not looking for a job. That means that all the blacks in the inner city who have been on your compassionate welfare for 3 generations are not counted. It doesn't count the factory workers who don't have any skills other than go to work on an assembly line and pay the union dues who have lost their jobs but can't find another one on an assembly line. Not to mention all the bankers and investment brokers who are out of a job and can't find another high paying one so they are living on their savings and/or their wife's earnings. When you count all these fine folks and others like them you get about double that 8% or more. So, this is what the entitlement mentality has brought us. People who expect to be employed forever doing what they did for a long time (even doing what their daddy did). Hey, people, it's a new economy. It's not the old one. Get going on finding a way and not expecting the gov't to give it to you. He (they) can't.

      May 15, 2012 at 10:00 pm |
  42. Richard Broderick, Jr.

    Imagine what it must have been like to have the Governor's kid as a senior in high school enforcing his rule with his elite posse. What a classic and nauseating stereotype he must have been. Hey Mitt did you take kids lunch money too?

    May 15, 2012 at 5:21 pm |
  43. Rick

    CNN the new Fox News. They have certainly taken the Republican views over the past year.

    May 15, 2012 at 5:17 pm |
    • nuser

      You are the first poster, i have read,who caught on to that. Frum, Cafferty , Blitzer and above all Bergen have
      continually bashed Obama and some Democrats for quite a while now. CNN is supposed to be neutral !

      May 15, 2012 at 5:56 pm |
  44. Dave Miller, Middletown, PA

    Excuse me if I'm not impressed by the minimum or near minimum wage jobs that Bain "created".

    May 15, 2012 at 5:17 pm |
    • bluebird

      Kindly educate me as to what high paying white collar jobs President Obama's office has created. I'd like to know what else except highway construction/building. Let's see what how the recent grads vote when they can't find any work except for low-paying jobs. At least it's something.

      May 15, 2012 at 9:24 pm |
    • Dude Fl

      Talking about the "low paying jobs" that Bain created is interesting. I suppose the writers would prefer the high paying jobs that Keystone pipeline would create. Ooops, the Pres stopped that. (I know, for now, but he stopped it when we need the jobs). Or perhaps they are talking about the high paying jobs at Solyndra. Ooops, in spite of the beaucrats handing over 1/2 bill to please the Dem base the company went out of business because China started selling the panels for less than we can make them for and started doing that way before the loan. "Hey", the beauracrats say, "who could have seen that coming?". Well a blind person for one. And as for the Pres taking credit for the slowly rebounding economy and the slowly rebounding job building by the PRIVATE SECTOR, he (and yes all politicians right and left) should not take credit for American business. So, the politicians should stop talking about jobs – who didn't create them or who did create them – and start working on what they DID create. The debt. And the resulting entitlement mentality of too too many of us. Time to go to work on something you all can do, Congress. And the Pres, whoever that might be next year. Have a nice day.

      May 15, 2012 at 10:58 pm |
  45. Jim Thomas

    Get negative back.The cbummer party has not done what this country needs such as jobs,quit spending money on stupid stuff such as vacations all over the world on us taxpayers.Maybe it is not important to them idiots.Remember people VOTE ALL INCUMBANTS MUST GO EXCEPT FOR SHERIFF JOE IN PHX.AZ.Jim Thomas PHX.AZ.

    May 15, 2012 at 5:16 pm |
  46. joesmith

    if cnn chooses not to run with the story..more than likely it will die an inevitable death, just like the Paul campaign did, as a result of NO exposure, they have given up..but, if the $$ boys tell the good old press to keep hammering, then, gotch ya; but why not expose Harry Reid and his $4.9 million train..now thats' a story, with all the hangers on who will ultimately get paid..but I got $50 bucks says that story doesn't get told..

    May 15, 2012 at 5:13 pm |
    • Investment Advisor

      You nailed that one.

      May 15, 2012 at 6:18 pm |
    • no obama drama

      I did hear about it....on Fox News!!! Fair and Balanced.

      May 15, 2012 at 9:43 pm |
  47. Kevin

    It will work better than Perry.

    Because now the audience is now the general election rather than GOP primary, where the voters are hardcore Republicans and Tea Partiers who are much more pro-corporation.

    May 15, 2012 at 5:11 pm |
  48. Rev. Schaeffer

    I don't think he should focus on Bain making money from firing people, as that's sometimes necessary to salvage a business and prevent all the employees from losing their jobs. I think he should focus on the failures, where Bain ran a business into the ground and still walked away with a profit. If there's no risk for screwing up in venture capitalism, where's the personal responsibility the Republicans value so highly?

    May 15, 2012 at 5:11 pm |
    • Rick

      Romney stole the pension fund, left Bain. Is this not a thief. Many executives do this to rob the cash and pensions from a company, then trash it. Romney did that.

      May 15, 2012 at 5:19 pm |
      • Mike F

        Rick, you are an idiot who doesn’t understand how pension funds work or what Venture Capitals do… do yourself a favor and refrain from making uneducated comments as they only make you look stupid! If you don’t like capitalism move to China!

        May 15, 2012 at 5:54 pm |
      • antes

        Do you any actual proof or are you just repeating something you heard?

        May 15, 2012 at 8:06 pm |
      • bluebird

        I agree with Mike.

        May 15, 2012 at 9:29 pm |
  49. KC Riley

    I think they will be somewhat effective, but not because of what he did at bain,but it will be a constant reminder that he is not and never has been middle class, never struggled to pay bills, never forced to make hard choices about family and what you can and cannot provide.
    In a word "disconnected".

    May 15, 2012 at 5:10 pm |
    • bluebird

      so what. when did it become a crime to work hard and be affleunt.

      May 15, 2012 at 9:30 pm |
  50. AgrippaMT

    We can certainly hope that President Obama's attack ads work. Romney and his cohorts at Bain Capital truly were a gang of vultures and vampires.

    May 15, 2012 at 5:09 pm |
    • bluebird

      You obviously have never worked for a start up. Probably you are an accountant in a large company who doesn't get enough recognition because you have no ambition.

      May 15, 2012 at 9:56 pm |
  51. Brian from NM

    Interesting that the sob story the Obama commercials use is one from 2 years AFTER Romney had LEFT Bain. Obama doesn't have much of a leg to stand on when going after Romney on this issue, look at Solyndra, and how many auto jobs were lost due to Obama's investments of our money. At least Romney did it with his own. Also, this country needs someone to do the tough things to save it. Some will lose benefits and jobs, but that's what's necessary to stabilize the economy and bring down the national debt. We can't keep kicking the can down the road and making a bigger and bigger problem in the process. No more bailouts!

    May 15, 2012 at 5:07 pm |
    • kevin

      Auto jobs lost?

      What planet are you on?

      They saved 2 of the big 3 and have been repaid all the money.

      Perhaps there are fewer auto workers now, but Romney wanted them to go belly up so venture capitalists could tear the companies apart and reconfigure them with $10 per-hour workers and no unions.

      May 15, 2012 at 5:33 pm |
    • nurseteacher

      You think Romney used his own money to destroy compaines? No he used government funds.

      May 15, 2012 at 5:56 pm |
    • Bob

      FAIL, on all counts.

      May 15, 2012 at 6:34 pm |
    • Investment Advisor

      Amen!!!

      May 15, 2012 at 6:54 pm |
    • Diane

      Finally an intelligent comment. I wonder about many of these people that are commenting here. No facts, just talking points from hashed and re hashed rhetoric

      May 15, 2012 at 7:13 pm |
    • demrules

      At the end of the day you will vote for Romney and I will vote for Obama! Romney is the person who publicly said "let them go bankrupt". That's easy to say when your job is not the one on the line. Yes...Romney is an out of touch venture capitalist!

      May 15, 2012 at 8:07 pm |
  52. Ms. Independent

    Correction. This strategy worked quite effectively for Gingrich during the primaries. He decimated Romney in SC. The problem is that Gingrich did not have enough money to continue the fight after the initial salvo and the GOP elite demanded he stop the attack. The fact of the matter is that Romney claims to know how to create jobs but Bain Capital was not in the business of job creation, it was in the business of making huge profits for itself. If thousands of people lost their jobs, so be it. As Governor, he was 47th in job creation. He has no qualifications for president that I can identify.

    May 15, 2012 at 4:58 pm |
  53. Bill

    Well, what the current president has done hasnt worked. What now?

    May 15, 2012 at 4:54 pm |
    • kevin

      Unemployment has gone down for 17 straight months. The economy is getting stronger.

      All this while held hostage by a republican house that would ratehr see America faile than Obama succeed.

      Give some serious thought to this. Do you want Obama, who is gradually fixing the problems, or the republicans, who caused them and want to continue deregulating the banking sector so the people have no control over the economy?

      May 15, 2012 at 5:36 pm |
  54. Loop

    There are two sides to every coin. Venture Capital companies buy firms that are distressed. So one could argue that Bain cut jobs, but one could also argue that if Bain didn't do what they did, all of the jobs could have been lost. Therefore one could argue that Bain saved jobs. Either way it doesn't matter, Obama has killed more jobs than Bain ever could have.

    May 15, 2012 at 4:53 pm |
    • rpaulwmson

      Loopie, where have you been for the last 3 years? Under Obama, the US had added 2.4M jobs in the last 2 1.2 years, and turned around the death spiral the Bush started.hen Obama took office, unemployment was 7.8% but increasing at a rate 0.6% PER MONTH. It topped out at 10% just 7 months after Obama took office, he turned the slope of increase down within 2 months. It has been decreasing since December of 2009 to its present rate of 8.1%, and the rate of decrease is faster and faster.Try looking at the actual statistics before you spout off about something you know nothing about.

      May 15, 2012 at 6:32 pm |
      • GetYourFacts

        Actually, In order to keep pace with the population growth ]we need to add approximately 5,263,000 jobs for Obama to get employment to the point of which he took over. (Bureau of Labor and Statistics)

        So he is actually down a lot more...but good job spouting incorrect facts that are fed to you through the media.

        May 16, 2012 at 12:32 am |
  55. Truth For Real

    I'd rather have an experienced business man that understands the current business climate in this poor economy than a community organizer that's never held a real job in his whole life (including being a politician). Obama isn't a bad guy, he just has zero grasp on how the economy operates and how to fix it. Obama is in way over his head when it comes to corporate polices and how to motivate corps to bring jobs back. Time to elect an experienced businessman that can help right the ship.

    May 15, 2012 at 4:50 pm |
    • nurseteacher

      Obama had not been in the military either, but he is great on foreign policy and I like the way he dealt with the auto industry. Romney has not been in the military and asserts Russia is our greatest enemy. Romney is still the same bully he was in highschool ready to "fire" people. That will not help the middle class, putting more out of work.

      May 15, 2012 at 5:59 pm |
    • Pete

      @truth for real,read the financial histories on all these companies,Bain didn't help any.They were left for dead after Bains gutting and leverage process left them bare.New venture capitalist came in,took over and made them viable again,not that bastard Romney and Bain.Bain killed a steel mill I worked in years ago,GST in Kansas City,a great steel mill till Romney and Bain got it,stripping it bare,stole pensions then took off,ya like your candidate now!Romney also took money from TARP,somebody should ask him about that,he's the perfect example of a heartless jackle,he'd eat his own kids if he had too!!He fits right in with the rest of those hypocritical morons,doesn't he!!!

      May 15, 2012 at 6:58 pm |
    • leon

      Jobs have been leaving this country for over 20 years... under both republican and democratic presidents and congresses. THe jobs aren't leaving due to the Dems and they're not coming back for the Dems or the Reps. THe major corporations are no longer US firms. THey are multinational firms that will go to the cheapest labor market, currently Asia.

      May 15, 2012 at 7:19 pm |
  56. Lucky18

    That's a good question. Why don't they ask the people that lost their jobs because of Bain?

    May 15, 2012 at 4:45 pm |
    • Bill in VA

      or for even more fun, why not ask those at GM and Chrysler who lost their jobs what they think about Obama and restructuring?

      May 15, 2012 at 6:23 pm |
  57. Ras Tafari

    Wolf you are wrong , it was effective in South Carolina where it was first released; and where Newt tronced Romney. obviously you are hoping it does'nt work; what oyu have seen so afr is just the beginning. I think you are still mad that the Obama acmpaign used your CNN Romney interview in their ad.

    May 15, 2012 at 4:45 pm |
  58. alex chapman

    Mitt isn't evil; he just has NO IDEA how his actions @ Bain's affects Middle Class folks. And he would have NO IDEA how his actions as POTUS would affect Middle Class America.

    May 15, 2012 at 4:42 pm |
  59. scotttcollins

    No, America is not as stupid as CNN and MSNBC thinks and hopes we are... And the reason Governor Romney is now ahead with women is because of the left wing nuts like Hilary Rosen running their mouths, America can only take so much. I am just glad to see our first gay president come out. We now can enjoy the "historic" aspect of that along with the historic fact of now being [downgraded] for the first time in history. But we can now all enjoy our historic president while we all sit home unemployed while smoking our legal pot while signing up for our free healthcare with our gay friends.

    May 15, 2012 at 4:38 pm |
    • nurseteacher

      First, not sure where you get your "legal" pot that was not already recognized under Bush, but why are you so down on "gays," perhaps you like polygomy better. Obama has done a great job in my opinion.

      May 15, 2012 at 6:03 pm |
    • leon

      Take your meds, please.

      May 15, 2012 at 7:21 pm |
  60. Dan5404

    Jack, that company's history is already a bad platform for Romney to run on, except it made money for him while most workers suffered, often losing their jobs. From what I have seen. a lot of bloggers have not accepted rhat as a strong pitch.

    May 15, 2012 at 4:38 pm |
  61. 2020

    It doesn't need to. Wolf. Now, Romney Bush Economics back at work again, a PERFECT CONTINUITY, isn't it? Last week, we had a preview of what worked in 2008 come back in one full circle: Dimon lost 2B, thanks to the loose loose no supervision freedom. Today he is awarded with 23M paycheck. Good job, When Mitt arrives in the white house, he will repeal all laws, dismantle Federal department. Oh well, Even Reagan will come back to give Mitt a Nobel price "Here we go again!!! " – Mitt, the Terminator

    May 15, 2012 at 4:38 pm |
  62. Dave

    One sided argument there Bitz. You don't touch on the 40,000 employees fired by Bain after sucking their companies dry. While a few survived most of the companies bought by Bain were forced to take huge loans (which went to payoff Robmey and his sycophants) they were then bankrupted taking their employees pensions to the bottom of the Sea. Obama saved the Auto Industry without hiding a penny in the Caymans. Forget Robmey and his Conquistador Business killing.

    May 15, 2012 at 4:26 pm |
  63. hey wolf...what a disgrace that the media is supporting ugly class warfare....its disingenuous and its the antithesis of what obama said he would be in 2008

    how ugly the media has become...supporting divisive obama politics all because what? they like him? they like his hypocracy? they are embarrassed they supported him and are now doubling down? what is it?

    May 15, 2012 at 4:23 pm |
  64. Absolutely.

    Are you kidding me...Absolutely! Why do you think Republicans sprint to the television and complain about it.

    May 15, 2012 at 4:22 pm |
  65. Disco Stu

    President Obama should run on his record. The United States economy has improved significantly since he took office. His strategy for using government investments to help strategically important industries is working. Solyndra is the one poster child the GOP loves to parade, but even that was the right thing to do then and we should continue to do so in the future. Unfortunately the only strategy the GOP has is to lower taxes and cross their fingers. We know what industries we need to be successful, so lets have government play an active role in enabling their success. This is already common practice in many of the worlds top economies (Germany, Singapore, Taiwan, China, Sweden, Brazil, Russia).

    May 15, 2012 at 4:15 pm |
    • Bill in VA

      You would be happier in France

      May 15, 2012 at 6:21 pm |
  66. 1nd3p3nd3nt

    it didn't work for gingrich and perry?
    they took the top spot from romney, heck almost EVERY republican candidate took the top spot from romney.
    the only reason why romney won is because all the other candidates self destructed.

    from moon base command to choking during the debate to not knowing current events like our intervention in libya.

    May 15, 2012 at 4:14 pm |
  67. dave

    Unfortunately,the answer is no. Americans have a habit of voting against their own interests.

    May 15, 2012 at 4:13 pm |
  68. zaggs

    I guess no need to mention that the man who was actually the head of Bain Capital when GST Steel went bankrupt, Johnathan Levine, is an Obama campaign bundler? Too bad Romney left Bain 2 years before GST went under. Not to mention they've already released the ad for Steel Dynamics which got started with the help of Bain.
    The only way the Bain attacks work is if the media lies.

    May 15, 2012 at 4:04 pm |
  69. Bill in VA

    The Obama camp slays me. Criticizes private equity work but hit them up for big buck campaign donations (Blackrock for example). Then they say private equity kills jobs but how many people at GM and Chrysler lost jobs as a result of the Obama restructuring.? They did exactly what private equity does – restructure. I bet you will never see the Obama camp put out a net jobs number on the companies Bain had invested in. Because on a net basis, it is likely a big gain. Private equity after all wants to make money and you can only do that if they are successful. You can always find companies that go bankrupt. I am betting there are more bankruptcies that are not private equity backed than are.

    May 15, 2012 at 4:02 pm |
    • nurseteacher

      I am waiting for the Romney camp to put out actual figures on Bain accomplishments instead of saying hundreds, then thousands then huncreds of thousands.

      May 15, 2012 at 6:08 pm |
  70. gg

    bush had the taliban over for a barbecue at his ranch when he was governor and republicans still voted for him–we know how that turned out

    May 15, 2012 at 3:57 pm |
  71. Louis, Jacksonville, Fl.

    Not if people dig past the emotional content. It didn't work the first time. Then ask Obama why he vilified venture capital operations and then went out and took donations from one of Brain's biggest competitors.

    May 15, 2012 at 3:53 pm |
    • demrules

      Just because Romney misused his status at Bain does not mean that the President cannot make full use of the resources afforded to him. That's like saying no one should drive cars because someone decided to run over someone else with one. It's all about being responsible!

      May 15, 2012 at 7:59 pm |

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