Monday, June 25, 2012

Romney's Bain Invested In Firms That Moved Jobs Overseas

Mitt Romney has been telling workers how upset he is about American jobs being shipped overseas and vowing to protect them. What he doesn't mention is that Bain Capital under Romney invested in firms that shipped American jobs overseas:

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.

While economists debate whether the massive outsourcing of American jobs over the last generation was inevitable, Romney in recent months has lamented the toll it’s taken on the U.S. economy. He has repeatedly pledged he would protect American employment by getting tough on China.

“They’ve been able to put American businesses out of business and kill American jobs,” he told workers at a Toledo fence factory in February. “If I’m president of the United States, that’s going to end.”

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