Romney's Bain blowback
January 10th, 2012
01:46 PM ET
6 years ago

Romney's Bain blowback

New York (CNNMoney) - Is private equity an acceptable form of capitalism?

That's the curious debate that has broken out within the Republican Party as primary frontrunner and former Bain Capital executive Mitt Romney creeps closer to a presumptive victory in New Hampshire.


Filed under: 2012 • Mitt Romney • President Obama • Rick Perry • Rick Santorum
soundoff (36 Responses)
  1. Nash

    How can a job killer be expected to create jobs? This is the only experience Romney has been highlighting as private sector experience.

    January 10, 2012 01:56 pm at 1:56 pm |

    yes, Romney is the most qualified in dismantling and downsizing of Companies to improve his and the Companies bottom-line and there went the jobs, jobs he claims to have created...of little comfort to the Unemployed...and yes Romney says:
    " I liove to fire people"....!

    January 10, 2012 01:56 pm at 1:56 pm |
  3. Rudy NYC

    Is private equity an acceptable form of capitalism?

    Of course, it is. It is pinnacle of capitalism. It is the plutocrat's dream job. He doesn't manufacture. He doesn't really purchase anything besides office supplies. The productivity per employee is staggeringly phenomenal. The dollars in gross sales per employee is one measure of productivity. Most companies run at or near 3-4 times the average annual salary. Vain Capital could run at a factor of 100, or more, when you factor the employee salaries. .

    January 10, 2012 01:58 pm at 1:58 pm |
  4. The LONE OKIE

    He was really happy, when he said, "I really like firing people"...

    January 10, 2012 02:04 pm at 2:04 pm |
  5. once upon a horse

    I always wondered why a guy as wealthy as Romney would even WANT to be POTUS. The job pays peanuts compared to what he already has and half the country is going to dislike him less known many in the world. Well at least being a Republican he won't have to deal with the 24/7 hate of FoxNews and right wing talk radio because they will NEVER attack a Republican the way they do Obama even if many don't care much for Mitt.

    January 10, 2012 02:21 pm at 2:21 pm |
  6. Ricardo

    He's a moron

    January 10, 2012 02:23 pm at 2:23 pm |

    You know I listened to Huntsman's response to Mitt's criticism of him working under Obama and serving as Ambassador to China, I loved the fact that Huntamns response was "I am being criticized for serving my country" regardless of which side of the isle and especially making a statement that his 2 sons are currently serving their country in the Navy I got the message that Mitt has 5 sons and not 1 has ever served their country.

    January 10, 2012 02:26 pm at 2:26 pm |
  8. Sniffit

    "How can a job killer be expected to create jobs?"

    He's not expected to. Mittens is expected to do to the federal gov't precisely what he did to companies like Ampad while he was at Bain. THAT is why the GOP establishment and the 1% are pushing for him so hard. They want more policies designed to shift wealth upwards so the federal gov't, while it still exists, can be used to "raid" the middle class and poor...then, once we're effectively reduced to a third-world rights-less labor force with no effective bargaining mechanisms or leverage, they can exploit us far more effectively than now, because let's face it: they view OWS and similar sentiment as nothing more than serfs gone uppity. Mittens will be expected, and has likely already promised, to fire a whole ton of people at the federal level and only let some of them have their jobs back if they accept greatly reduced pay, decreased benefits and the engation of any right to peacably assemble in order to organize collective bargaining efforts. Wanna deny it GOPers/Teatrolls? All we have to do is look at the ideological wish list demands the GOP keeps inserting into legislation lately to see I'm 100% correct.

    January 10, 2012 02:26 pm at 2:26 pm |
  9. Indy

    Let us not forget during a decent economy he was 47th in job creation as Governor, he has not been tested in the AfterBush economy where he likely would have been 50th.Someone posted earlier he is not a job creator, he is a job cremator.

    January 10, 2012 02:28 pm at 2:28 pm |

    (1 )Mitt Romney takes government bailout to keep to make Bain Capitol profitable.
    (2) Mitt Romney claims he is job 100,000, but left Bain Capitol in 1999. The jobs came after Bain Co went public offering.
    (3 )Romney has dual citizenship USA/MEX. Mitt father was born in Mexico, but treat immigrates like dirt.
    Where is the Tea Party outrage with this bailout anchor baby flip flopper Romney?

    January 10, 2012 02:30 pm at 2:30 pm |
  11. Kk

    Romney is most qualified candidate due to his experiences in private sector. He understands the current main issues in this country: BAD ECONOMY, JOB LOST. What is worng with firing the health insurance companies who cannot provide the services we need. It is our choice not goverment choice. What is wong with firing the people if they cannot perform well after we give them planty of opptunities to improve themself in education, skills and produtivites. It is their choice. We cannot choose for them. We only can provide opptunities for them. What is wrong with being capitalist? Don't forget this country has been built based on the capitalism. What do you want for this county? Socialism or communism?

    January 10, 2012 02:44 pm at 2:44 pm |
  12. Al-NY,NY

    Any question posed to him about this (or any other subject), he turns it around and blames Obama. The guy is as slippery as an eel and will not give a straight answer.

    January 10, 2012 02:51 pm at 2:51 pm |
  13. GI Joe

    His family's FIRST money came when they sued Mexico. They fled the war (they're all scaredy-cats), and then sued.

    He's never EARNED anything. Just sliced and diced and took the profits made when jobs were sent to India and China.

    January 10, 2012 02:51 pm at 2:51 pm |
  14. GI Joe

    He's a liar. He believes mormons lying to christians is OK. He believes mormons are the superior beings on earth. Read their cheap little bibles they leave everywhere - talk about propaganda. What a liar. He wants the power to help his friends with $$$$$$$.

    January 10, 2012 02:54 pm at 2:54 pm |
  15. steve pentecost

    It is obvious why Mittens wants to be POTUS. He is interested to find out just how much it will cost him as he has really never done an honest day's work in his life. He has already told America and the world he will bomb Iran, a country that is weakening by the day. For all his education he failed to learn the definition of covert. How does the country buy his draft era "I can't serve, I must go to France for 30 convert them to Mormonism" position, but now I am totally for war and will enjoy sending everyone but my cowardly sons to slay the evil Muslims. This dude is too morally and ethically challenged to even consider voting for POTUS. His dismantlement of companies by leverage is well known, case closed.

    January 10, 2012 03:04 pm at 3:04 pm |
  16. vic , nashville ,tn

    Bain capital bought tea party that is good investment the made so far

    January 10, 2012 03:06 pm at 3:06 pm |
  17. Mikey

    @Kk – Nothing wrong with capitalism. The vast majority of both Republicans and Democrats support capitalism. I don't understand what your question is? No one is proposing the U.S. become a socialist or communist country. We can disagree, but cannot have productive debate if people are going to mischaracterize the position of others and then argue against that non-existant position.

    Obama is a socialist just as much as Romney wants to turn all workers into indentured servants. Neither arguement is true and nothing will be solved by stupid baseless charges.

    Romney has never built any company that produced market goods or necessary services and created jobs. He is taking credit for jobs created at companies that Bain simply provided financing to. If you get a loan from a bank to start a business, can they take credit for the jobs you create? Most of the companies that Bain actually ran, were existing companies they dismantled for profit, selling off the pieces, letting the remainder die, and killing many, if not most, of the jobs. Hardly an inspiring career, unless you are an admirer of Gorden Greko's "greed is good" philosophy.

    January 10, 2012 03:06 pm at 3:06 pm |
  18. Woman In California

    Just keep dressing down Willard (wink, wink). The more you pretend to be HUMAN the more turned OFF voters become as you will find out in November in RECORD numbers. Thankfully, this will be the last time we have to listen to your foolishness.

    January 10, 2012 03:09 pm at 3:09 pm |
  19. Mike from Calgary

    If Romney was so good for Massachussetts, why did he QUIT ... and why does the Boston Globe come out to support Huntsman rather than Romney? You need only listen to Huntsman's three daughters (or "Triple Threat" as Obama supporters label them) or to his wife or top Jon Huntsman himself.

    January 10, 2012 03:12 pm at 3:12 pm |
  20. The Greedy Old PIgs have declared class war on US!

    Flipper is not qualified to represent all Americans, since he has chosen repeatedly to represent only a small sliver of the hidden GOBP deathcult elites corrupting our country and government, He cares only for greedy and not the needy.

    January 10, 2012 03:13 pm at 3:13 pm |
  21. Rudy NYC

    Kk asked:

    What is worng with firing the health insurance companies who cannot provide the services we need.
    There is nothing wrong with changing insurers. It is what free enterprise is supposed to be all about. Gov. Romney's problem is his choice of words. 99% of people would use phrases like, "dropping my carrier" or "changing my insurer." It seems that Mitt Romney views it as an opportunity people, which he admitted to enjoying most enthusiastically. He was highly energized when he uttered those words. He sounded like a sick man, or a man who lives in completely differently social environment that the rest of us can only imagine.

    January 10, 2012 03:17 pm at 3:17 pm |
  22. Tony

    The picture in which Romney and his colleagues from Bain Capital holding paper money in their hands or mouths is a killer. If Republicans cannot come up with an alternative to Romney, they are doomed.

    January 10, 2012 03:20 pm at 3:20 pm |
  23. The Greedy Old Pigs have declared class war in US!

    Flipper is also not qualified because:

    He is an elitist
    He thinks "corporations are people too, my friend"
    He's cruel to animals
    He is a bloodthirsty neocon eager to attack Iran
    He is a job cremator, not a job creator,
    He doesn't believe the filthy rich should share in any of the sacrifices the rest of us are making

    January 10, 2012 03:23 pm at 3:23 pm |

    @kk, did you forget a K, nothing is wrong firing people who don't do their job, like most of the elected officials up on capital hill, what is wrong is firing people who do a good job but the profits are still not to his liking, you know like the Palins its all about money and how much he can put in his pocket.
    The other issue is he has 5 sons who have yet to serve their country not even a 1. Yes you are right about BAD ECONOMY, LOST JOBS, BUT ASK YOURSELF WHEN DID THE ECONOMY TANK? MY 401 TANKED BEFORE OBAMA TOOK OFFICE AND THE FIRST BAILOUT CHECKS WENT OUT UNDER GWB. I agree with the Health Insurance companies and Pharmacitual companies who just rip-off the american people. He is successful in the private sector however like any POTUS he still has two other branches that governs this country, House and Senate, all the power is not his.

    January 10, 2012 03:25 pm at 3:25 pm |
  25. Woman In California

    Steve Pentecost what you said earlier is EXACTLY why I DESPISE Willard. Yes, I mean to use the term despise (and I don't care who it offends). I would never vote for ANY president so willing to send others off to unnecessary wars while he keeps his FIVE (5) son's "protected". You CAN'T have my son's Willard. NOT NOW, NOT EVER.

    January 10, 2012 03:38 pm at 3:38 pm |
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