Last week, President Obama and his campaign minions decided to focus on Mitt Romney’s record at Bain Capital. Bain Capital has been attacked early and often for buying failing companies, then outsourcing jobs at those companies to other countries in order to cut costs. According to the Obama campaign, all of that was Mitt Romney’s fault.
It began with a planted Washington Post story strongly implying that Romney had outsourced while at Bain; as it turned out, the outsourcing at Bain truly happened after Romney was no longer in control – he effectively left a control position in 1999 to head up the Salt Lake City Olympics. Nonetheless, that story ended up becoming the source of Obama’s claims that Romney was responsible for the outsourcing – and even the Post had to chide the Obama administration for moving to “define what the article said, claiming that this transfer of jobs took place while Romney ran Bain. That’s not what the original article said.”
In fact, the real outsourcer was President Obama himself, who had used American taxpayer dollars to stimulate job creation in places ranging from China to Finland. But that didn’t stop the Obama campaign from lying about Romney.
Then, the Obama campaign went a step further. They dug up an old Washington Post report and had the Boston Globe rehash it as news. The report claimed, “Government documents filed by Mitt Romney and Bain Capital say Romney remained chief executive and chairman of the firm three years beyond the date he said he ceded control, even creating five new investment partnerships during that time.” In other words, Romney was fully in control of Bain during the time they outsourced jobs.
Stephanie Cutter, deputy campaign manager for the Obama team, promptly went on a conference call and said that this meant that Romney was either a liar or a felon (for lying on federal forms).
One problem: the forms don’t say that at all. They say that Romney was Chief Executive Officer and president with a controlling interest in Bain Capital VI, which was essentially a holding company for assets. Bain Capital VI was not a fully functioning, buying-and-selling entity controlled by Romney. And everybody, including both the Washington Post and CNN, knew it – which is why CNN said that Obama’s new Bain campaign “doesn’t appear to be true.”
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