Romney Economics: Job Loss and Bankruptcy at Ampad

President Obama’s campaign team have another web ad out that talks about Mitt Romney’s time with Bain Capital. According to the campaign, “With American Pad & Paper (Ampad), Mitt Romney and his partners took a small but successful paper products business and merged it with other companies in the industry, piling up debt as they went. Ultimately, the company was unable to keep up with the interest payments on its debt and was forced into bankruptcy, but not before Romney and his partners were able to squeeze out more than $100 million for themselves.”

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