Key Question: Did Bain Business Practices Suddenly Change In February 1999?
Chris Hayes made the point:
Bain Capital runs a — purchases a company called GST Steel. That’s in Kansas, ok? They end up closing down that factory and shipping most of the jobs, I believe, to China around 2001, 2002, ok? The Obama campaign releases an ad hitting Mitt Romney for that, and the Romney response is “i had nothing — you can’t hit me for GST Steel because I left Bain in 1999.” So then we get the disclosure forms that he signed with the SEC saying he was the sole shareholder and chief executive officer of Bain Capital in 2000 and in 2001. These are on file with the government. He said, yes, I was, but in name only. But the whole point… What’s bizarre about this is they seem to be going through a lot of work and bending over backwards to avoid being associated with this one institution, which is GST steel, which was the subject of one ad, which the things that Bain was doing before 1999 are not in any way substantially or quantitatively different.