Super PAC Releases Another Misleading Bain Capital Ad

An Obama Super PAC, Priorities USA Action, put out another ad on Bain Capital and GST Steel on Sunday. This one features an interview with a GST Steel worker named “Donnie.” GST Steel was a Kansas City company that went bankrupt and closed in 2001, eight years after it was purchased by Bain Capital. According to the ad, Mitt Romney and Bain Capital shut down “entire livelihoods.” “This was a booming place, and Mitt Romney and Bain Capital turned it into a junkyard.” The ad is a bit misleading since Romney had little to do with the steel industry facing strong competition from cheaper steel in China. Steel companies across the nation were facing problems at that time. Bain Capital bought GST Steel as it was going into bankruptcy and kept it going for eight more years. Romney left Bain Capital in 1999 to go help run the Winter Olympics, which is two years before GST Steel went belly up in 2001. The director of Bain Capital at the time of the company’s bankruptcy and layoffs was Jonathan Lavine, who happens to be a major bundler for President Obama raising almost 200 thousand dollars for his re-election. Even though these facts were revealed over a month ago when Priorities USA released the first ads on GST Steel, they continue with the misleading ads. Even writing new ones. I wonder how “Donnie” would have felt about a job with Solyndra?

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