Obama Using Bain Capital to Swing at Romney

Obama’s new TV ad says Bain Capital was a bloodsucking venture

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President Obama's re-election campaign is trying to revive a criticism of Republican challenger Mitt Romney that has been used against the former businessman many times before: that he was a predatory capitalist whose main objective was making profits, not creating jobs.

That's what's happening in the current Obama attack, which focuses on Romney's record running Bain Capital, a private equity firm.

[Obama Campaign Using GOP Primary Criticism Against Romney]

Obama's campaign is running a new TV ad, starting Monday, in the swing states of Colorado, Iowa, Ohio, Pennsylvania, and Virginia, based on interviews with former workers at GST Steel, a Kansas City steel mill that was taken over by Bain.

"It was like a vampire," says Jack Cobb. "They came in and sucked the life out of us." Adds Joe Soptic: "They made as much money off of it as they could and they closed it down."

Summarizing the line of attack, Obama's chief strategist David Axelrod told the Associated Press that Romney wants to "create the illusion that somehow his experience equips him to lead the economy, but there's nothing about the record that would support that....His central premise is that he's an economic wizard who can really get this economy moving and if that's the only claim he is making for this office, that's a premise worth examining."

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