The Obama campaign team has developed a two-minute advertisement attacking Mitt Romney’s history with his venture capital firm, Bain Capital. The campaign’s new approach served as an obvious attempt to undermine Romney’s claim that he’s the best candidate to manage the economy because of his business background. The lengthy broadside aired in five key swing states: Ohio, Pennsylvania, Virginia, Iowa and Colorado. A six-minute web video accompanied the advertisement, adding more fire to the claims against Romney.
The Obama campaign delved deep into the events of GST Steel, a Kansas City plant formerly operated by Bain Capital. President Obama attacked Romney’s industrial knowledge, highlighting the bankruptcy of the plant. According to Obama for America, the plant’s closing left hundreds of people unemployed and jeopardized their pensions.
The Obama campaign insists that the case of GST Steel is an example of Romney’s business philosophy and such tactics will hinder the future of the American economy. The campaign states that Romney’s sole purpose was to reap quick profits for himself at the expense of workers, communities and failed companies. Romney cites his vast business experience as a plus, but even his Republican primary opponents made note of his cutthroat aspects, coining Romney’s business tactics as “vulture economics.”