Mitt Romney’s financial company, Bain Capital, invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India.Meanwhile, Romney campaign quibbles over outsourcing vs. offshoring. The problem is Mitt says he's a "job creator" and he's not. He's a money pusher and a gatherer of money -- for himself. Here's the latest Romney lie list.
While Bain was not the largest player in the outsourcing field, the private equity firm was involved early on, at a time when the departure of jobs from the United States was beginning to accelerate and new companies were emerging as handmaidens to this outflow of employment. Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field.
During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.
Friday, June 22, 2012
Romney's Bain Specialized in Shipping Jobs to China
From the Washington Post:
Posted by Olga at 12:56 PM