Realizing that Obama’s reelection is in serious jeopardy, the President’s campaign today released a two-minute ad slamming Mitt Romney for layoffs made at a company controlled by Bain Capital. The ad is built around interviews with former steelworkers at GST Steel, a mill in Kansas City, who were laid off as the company collapsed in the wake of a downturn in the steel market. The ad is certainly gripping and emotional. It is also, however, completely wrong.
The company was shut down in 2001. Romney left Bain in 1999, long before the plant closing, to run Winter Olympics. Two years is an eternity in the business world. Blaming Romney for decisions made two years after the left the company is at best disingenuous.