What Mitt did at Bain was legal and necessary in a dynamic economy where conditions are changing. Some jobs are created and some are destroyed, but that is progress. The real question is whether Mitt and Bain restructured companies and jobs with a heart or whether they just took the money and ran.
I have long favored requiring a social impact statement similar to an environmental impact statement. How much does an economic change impact favorably or unfavorably on the people involved directly and indirectly? Mitt must answer this question honestly and in detail or his rivals and the media will answer it for him.
Restructuring companies and doing it with a heart means generous severance payments for those losing their jobs. It means help in retraining for those who need it, and it means help in relocating if the available jobs are located in distant cities. Restructuring with a heart means that not all the benefits go to a few, while hundreds or thousands are left to suffer.
- Laid Off Steelworker: Mitt Romney, Bain Capital Profited By Shutting Down Kansas Steel Plant (leftygazette.wordpress.com)
- Craig Crawford: Mitt’s Bain Pain Goes South (huffingtonpost.com)
- What Mitt Romney did at Bain (politicalticker.blogs.cnn.com)
- Bain Capital And Mitt Romney (dekerivers.wordpress.com)