What To Watch For: Romney’s Bain Pain Is Following Him To The GOP Florida Debate

One thing to keep an eye out for during GOP debate in Tampa is the story of how Mitt Romney made $242 million for Bain by killing jobs in Florida.

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According to the Tampa Bay Times,

It started in 1995, when Romney’s Bain Capital targeted the company that became Dade Behring, which made blood-testing machines and performed animal research at its Miami campus.

Bain borrowed heavily to buy the company and closed a factory in Puerto Rico to improve the bottom line. About 400 lost jobs there. Then in 1997, Bain shuttered Dade Behring’s Miami operations, costing another 850 jobs and a $30 million payroll in the community.

Before growing debt consumed the company, Bain executed its exit strategy and made $242 million.

The Obama campaign has already seized on this story. In a memo released today, Obama campaign manager Jim Messina wrote, “In Florida, things won’t get any better. At Bain, Romney invested in Dade Behring, a profitable medical-equipment company, ran it into the ground, and caused 850 workers in Miami to lose their jobs. Twice as many lost their jobs across the nation. For most investors, that would count as a devastating failure. For Romney, it was a rousing success: at their direction, the company borrowed nearly $250 million and distributed it to Bain and its Wall Street partners. While Romney and his Bain partners made millions, the company went into bankruptcy.”

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Mitt Romney has tried to explain away the criticism of his time running Bain as being perpetuated by people who are either jealous of, or punishing him for his success. Romney doesn’t seem to understand that his “success” cost thousands of people their jobs and devastated the economies of local communities. His Bain success spread pain and misery to families all across America. I suspect that Newt Gingrich will make Dade Behring a centerpiece of his attack against Romney tonight.

Two polls released today found that Newt Gingrich has surged into the lead in Florida. The Insider Advantage poll has Gingrich leading Romney by 8 points, 34%-26%, and a new Rasmussen survey has Gingrich leading, 41%-32%. These debates have been the fuel for Newt Gingrich’s campaign. Gingrich is an expert at stealing the spotlight and crafting the sound bite moments that dominate the post-debate media coverage. In contrast, Mitt Romney has revealed himself to be a vanilla debater. Romney tends to use his stump speech to answer debate questions and his main applause lines are generated by attacks on President Obama.

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No matter what Romney throws at Gingrich tonight if he can’t come up with a way to explain away the Bain, he is a fatally flawed and doomed candidate. Be on the lookout for the name Dade Behring tonight. If the company is mentioned, Romney’s answer may make or break his presidential campaign.

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7 Replies to “What To Watch For: Romney’s Bain Pain Is Following Him To The GOP Florida Debate”

  1. I’m rather glad that the dirt on Gingrich and Romney is coming out now, because if it came from the Obama Campaign, it would give republicans the opportunity to blame it on the dems and the “librul media.” This is NOT the kind of GOP primary season I think the movers and shakers in the party were expecting, but it is definitely needed. The word is that if Newt wins in Florida, it’s Establishment GOP freak out time. Jennifer Rubin, Chris Christie, and Joe Scarborough have already sounded the alarm. Serves them right. They empowered the far right nuts, now they can watch as they push them over the cliff. Once this far right genie is out of the bottle, as we witnessed in 2008, it’s very difficult to put it back into the bottle.

  2. I firmly believe that the issue of Bain will continue to be the bane of Willard Romney’s campaign. It’s extremely relevant because it exposes Romney for the greedy, heartless vulture capitalist that he is. More than the flip-flops and the pandering to the worst elements of the GOP, this is his true essence. I seriously doubt that he will ever be able to live it down. It’s quite a show to see the GOP establishment freak out about his inability to seal the deal, but they have only themselves to blame. That’s because in their zeal to win elections at any cost, they tried to co-opt the lunatics and instead got co-opted by them.

  3. From other sites that lean right, I’m reading that the reichwing wants the Grinch to be the nominee because they truly believe he’s the only one who can beat President Obama.
    On the other hand, I’m getting the strong feeling that the Dems really want the Grinch to be the nominee because they truly believe he’s the one who can be beaten more easily — hence the production of ads against Romney.
    Your opinion?

  4. will having a certified nut job at the top of the ticket will help us down ticket..we have many Democratic Senate seats to defend with retirements.. and we desperatly need to take back the House..

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