During an appearance on Meet The Press on Sunday morning, CNBC’s Mad Money host and Wall Street expert Jim Cramer took on Mitt Romney’s claim of being a job creator.
Meet The Press host David Gregory played an Obama campaign ad attacking Romney’s record at Bain Capital. Gregory then asked Cramer if voters will be persuaded by Romney’s claim of being a job creator with private sector experience, to which Cramer replied that Romney is a “job destroyer” and that Romney’s destructive record at Bain Capital will stick with voters.
“Romney’s known as a job destroyer, not a job creator. I just don’t think that this will stick. I think Bain sticks. I think the idea that you bring in Bain, which is what happened in the 80s, they fire a lot of people and that’s how they get prosperity for the rich. That is a more resonant theme, I think, than anything Romney’s come up with.”
Here is the video:
During Romney’s tenure at Bain Capital, approximately 25% of the companies Bain acquired went bankrupt while Bain made billions in dollars in profit off of the companies. Bain Capital bought struggling companies, fired masses of workers, sold the companies, and laughed all the way to the bank while those companies failed, resulting in more job losses. This is why Romney is known as a vulture capitalist. His company preyed upon these struggling businesses. And he got rich because of it.
When Jim Cramer calls Mitt Romney a job destroyer, I sit up and take notice of that because Cramer is a man who knows Wall Street like the back of his hand. He was an incredibly successful hedge fund manager for Goldman Sachs before starting his own successful hedge fund company. He has established himself as an accurate stock market analyst and business expert. So when Jim Cramer says that Mitt Romney’s claim of being a job creator is a bunch of crap, I listen. When he says that Bain Capital fired people to benefit the wealthy, I take him at his word because he’s been looking at the numbers and the money for years. He knows what he’s talking about. Mitt Romney has been shamelessly lying to the American people for years about his record on jobs and the economy. Romney’s past statements, from saying that he likes firing people, to saying that he isn’t concerned about the very poor, to saying that we should have let the auto industry fail, are all indicators of a man who didn’t care about the people he enjoyed firing while at Bain. He fired these poor workers from companies he purchased, stripped the company down to nearly nothing and sold the companies for a profit before they failed. This is not the kind of man America needs to have in the White House. Because if we allow Mitt Romney to run America the way he ran companies into the ground, we’re all in deep trouble.