Says the new DNC video below.
Democrats have been critical of what Bain Capital, Rmoney's venture capital company, has done to individuals and communities when it took over companies, fired people, and destroyed a way of life for many working-class Americans.
But the criticism of this heartless practice isn't limited to Democrats alone. Listen to Willard's fellow Republicans tell us how Bain Capital and its "vulture capitalism" made people's lives miserable, while making Rmoney and his buddies rich as potentates.
Andrew Sullivan has more on how Rmoney's association with Bain Capital can do damage to his campaign for the presidency. HERE.
"Romney's private equity firm, Bain Capital, bought companies and often increased short-term earnings so those businesses could then borrow enormous amounts of money. That borrowed money was used to pay Bain dividends. Then those businesses needed to maintain that high level of earnings to pay their debts...
* Bain in 1988 put $5 million down to buy Stage Stores, and in the mid-'90s took it public, collecting $100 million from stock offerings. Stage filed for bankruptcy in 2000.
* Bain in 1992 bought American Pad & Paper (AMPAD), investing $5 million, and collected $100 million from dividends. The business filed for bankruptcy in 2000.
* Bain in 1993 invested $60 million when buying GS Industries, and received $65 million from dividends. GS filed for bankruptcy in 2001.
* Bain in 1997 invested $46 million when buying Details, and made $93 million from stock offerings.
The company filed for bankruptcy in 2003.
Romney's Bain invested 22 percent of the money it raised from 1987-95 in these five businesses, making a $578 million profit."
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