Bain Never Left Romney

By DAVID FIRESTONE


The two presidential campaigns are still arguing about when Mitt Romney left Bain Capital, but from a political perspective the date really doesn’t matter, because Bain never left Mitt Romney. The company’s business practices, before and after his departure, will trail him wherever he goes, and now they have turned up in the northern Illinois city of Freeport.


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In addition, Mr. Romney’s generous retirement agreement ensures that he continues to profit from the deals and decisions that Bain makes. He owns about $8 million worth of Bain funds that hold 51 percent of Sensata’s shares. If Sensata saves money by closing the Freeport plant, that could add money to Mr. Romney’s trust accounts, now or after the election.

Many conservatives want Mr. Romney to make a full-throated defense of these practices, and hope he explains to Americans that plant closings and offshoring are a natural part of capitalism and can have long-term positive effects for the economy.

But Mr. Romney clearly feels he can’t do that, because the political effect of defending layoffs would be toxic. That’s especially true because his entire campaign is built around accusing President Obama of not creating enough American jobs.

As on so many issues, he is trapped between his past and his politics, unable to defend his career and unable to escape it.

more: http://takingnote.blogs.nytimes.com/2012/07/18/bain-never-left-romney/