Romney starts getting hammered

By the press. Chicago Tribune, print edition headline today: Romney firm: Profits first, then jobs:

According to the prospectus, prepared in late 2000 by a division of Deutsche Bank Securities, investors could participate in Bain's funds with a minimum investment of $1 million. Bain Capital's portfolio started with a preponderance of simple investments like Staples, but shifted heavily toward more complex leveraged buyouts and other deals within several years, according to former Bain partners.

Leveraged buyouts allow investors to purchase businesses with the acquisition funded sometimes by significant amounts of debt. To critics, these leveraged deals can make acquired companies more vulnerable to economic downturns, leading to a greater likelihood of bankruptcy and job cuts. At the same time, the deals sometimes introduce discipline to firms and even whole industries that need it.

Here we go:

In 1999, as economic challenges mounted, GSI sought a federal loan guarantee intended to help steel companies compete internationally. The loan deal was approved, but in 2001, before it could be used, the company went bankrupt, two years after Romney left Bain.

More than 700 workers were fired, losing not only their jobs but health insurance, severance and a chunk of their pension benefits. GSI retirees also lost their health insurance and other benefits. Bain partners received about $50 million on their initial investment, a 100% gain.

Of course you could ask who really "bled the company" in the first place. Unions. Especially union bosses.

They don't show the infamous photo, though.

P.S. Of course, Dems have abandoned the working class, which is up for grabs.