Is Romney's Bain Record a Winning Issue for Obama?
Bain Capital, the private equity company founded by Mitt Romney, has dominated the presidential electoral debate in recent days. But it’s not just Romney’s record at the firm he led for 14 years that has been driving the discussion; many have criticized the measures taken by President Obama’s campaign to slam the company. Even Newark Mayor Cory Booker, a Democrat and surrogate for the Obama camp, called the attacks “nauseating” before walking back his remarks.
Romney’s success as a businessman has been a central argument in his own campaign. He claims to have created as many as 100,000 jobs in his experience in the private sector, where he says he rescued and rebooted struggling companies like Staples. However, the Obama campaign has accused Bain Capital of what some call “vulture capitalism,” painting it as a greedy, carpet-bagging corporation that tore apart companies, sent jobs overseas, and forced companies into bankruptcy, all the while banking massive profits for its investors.
Both Romney’s boasts of job creation and the Obama camp’s accusations hurled at Bain have been called into question. What is unclear still is the political payoff of the current dialogue centered on Romney’s record at Bain Capital. Is it a winning issue for Obama? Here is the Debate Club’s take: