Skip to main content

Priorities USA releases a new video mocking Mitt Romney for coming up with new number every time that he claims to have created jobs as CEO of Bain Capital:

Yeah, yeah, I know you're just so shocked to learn that Mitt Romney is so full of it on his claim to be a jobs creator that he can't even keep his numbers straight ... but you actually might be surprised to learn that in Mitt Romney's own words, he's blowing smoke:
When you ask, the question 'How many jobs did you create at Bain Capital?' the truth, is we invested in businesses that created the jobs. We didn't create them ourselves. They did. [3/13/12, KMOV, St. Louis, Mo.]
That's a rare moment of candor for Mr. Bain—and it's a tremendously important point. Romney's job creation number relies on giving him credit for every single job created at every single company in which Bain invested money, no matter how much or how little. That's like buying Apple stock and claiming to have created the iPad.

Take the case of Staples, at which Romney claims he created 90,000 jobs. Bain invested $2.5 million in the company in the late 1980s—and cashed out for $13 million in 1989. By all means, give Romney credit for having seen an opportunity early on and having made a profitable investment. But give him credit for creating 90,000 jobs? Are you kidding me?

To be fair, Bain wasn't always a passive investor. As the Priorities USA and the Obama campaign have been pointing out, there are numerous examples of Bain bustouts—cases in which Bain bought a company and took over its management, loading it up with debt, extracting millions, and letting it crash. And maybe there's some examples of Bain taking an active role and helping managing companies into a stronger position. But if so, Romney isn't talking about them.

Originally posted to The Jed Report on Fri May 25, 2012 at 09:42 AM PDT.

Also republished by Daily Kos.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site