Breaking News on Mitt Romney and the 2012 elections!
I’ll have to start by being brutally honest; I did not think that the Mitt Romney Bain Capital controversy could derail his campaign. Republicans are supposed to be about the free markets. Conservatives are supposed to be for capitalism, entrepreneurship, and freedom. While the Republican Party may be the party where capitalism is admired, the Mitt Romney Bain Capital talk is not going away. Romney’s campaign could be derailed if the wrong message gets out there.
So what exactly is the Mitt Romney Bain Capital controversy about? Let’s discuss the history of Bain Capital.
Bain Capital was started by Romney in 1995, and it made him a fortune! It is estimated he made $242 million dollars during his time there. I personally don’t have a problem with making money and profits, but many people will. The class warfare mentality promoted by many of the liberals and mainstream media is going to pounce on Romney for the money he made there.
The company is what is known as a private equity company. Most people don’t really understand what that means. A leveraged buyout shop is the former term for these types of companies, but they are not all bad. Private equity companies buy troubled companies and try to turn them around. In some cases, they can turn the companies around and make them profitable again. In other cases, the firms have to close the companies and layoff the employees.
The other candidates have focused on the negative sides of the Bain Capial. They never talk about how some companies have done well. They haven’t mentioned that Obama recently hired someone on his staff that worked for Bain Capital.
Despite the scrutiny of the public, the other GOP candidates have agreed to stop criticizing Romney about his private equity company. Romney no longer controls the day-to-day operations of the company, but he does still have significant investments within the organization.
Even though the Republicans aren’t going to bring up his firm any longer, Obama could bring up the private equity company, and I believe he will. Romney will likely be the nominee, and he will face new scrutiny from the media in the general election. The media won’t focus on the fact that President Obama hired someone from Romney’s company. They will simply focus on the fact that he laid off employees, and they will try to make him look like he doesn’t know how to create jobs.
Most educated people who actually research the Mitt Romney Bain Capital connection won’t listen to the media, but gullible people still believe anything the media says.