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Presidential hopeful Mitt Romney has responded to accusations made by President Obama concerning Romeny’s work as head of Bain Capital.
Obama has been attacking Romney’s economic policies by appearing with employees that were laid off after Bain, a private equity firm, acquired their companies. A recent Obama ad featured a former steelworker from GST Steel, a steel factory that Bain bought in 1993, who lost his job and pension after the company went bankrupt in 2001.
Employees from SCM Office Supplies have also told similar stories to reporters and appeared with Vice President Joe Biden at a campaign event.
The accusations seriously challenge Romey’s previously held stance that his business savvy will help him create new jobs as president.
According to the Washington Post, Obama’s attacks on Romney are attempts to portray the presumed Republican nominee as out off touch with average Americans.
Romney has responded by pointing he had left Bain two years after the steel factory had closed, stating, "That's hardly something that was done on my watch," according to CBS News.