On CNN today Obama reelection strategist David Axelrod spread more Bain pain for Mitt Romney by pointing out that the GOP frontrunner made millions by bankrupting a dozen companies.

Here’s the video:





Transcript from CNN:

CROWLEY: Let me talk a bit about Bain Capital, where Mitt Romney, you know, ran the company.

AXELROD: I’ve heard that.

CROWLEY: He has — it has been quite the rage subject on the campaign trail. And one of the things that you all have said and tried to reiterate what some of his Republican rivals are saying is, listen, this guy is a big corporate raider; he went in; he, you know, closed up companies, lost all these jobs.

He was asked about this recently on CBS, and I want to tell you — I want to play for our audience something he said.

(Video Clip)

CROWLEY: You’ve got to do things that are tough to try to save a business. Does he have a point?

AXELROD: Let me point out that there are 150,000 more people working in the auto industry because of what the president did.

CROWLEY: There are, but they did lay off people.

AXELROD: And we would have lost — if we had followed Governor Romney’s prescription, which was to let Detroit go — he famously wrote an op-ed saying let Detroit go bankrupt. If that had happened, we would have lost 1.4 million jobs. The reason that his — his work at Bain is an issue is because Governor Romney has offered his business experience as his sole credential, really, for being president of the United States. So it behooves everybody to look at what that experience is.

The truth is that he closed 1,000 or more factories, stores and offices. He outsourced tens of thousands of jobs. He took 12…

AXELROD: Just a second. He took 12 companies to bankruptcy, on which he and his partners made hundreds of millions of dollars.

CROWLEY: But the point here is, I think, that doesn’t he have a point by showing, look, the president had to say to GM, for instance, you’ve got to lose some of these jobs. They closed up dealerships. So in order to make the company healthy and able to move on to then create more jobs, he had to cut jobs?

AXELROD: Look, first of all, the bankruptcies that I — that I cited, the 12 bankruptcies, were ones in which he participated, in which he and his partners made hundreds of millions of dollars. He is the one who is claiming job gains for companies — from companies after he and his — Bain got out of them, years after he and Bain got out of them. I’m just assigning to him the things that he personally…

CROWLEY: We’re talking about a record that isn’t there at the moment.

AXELROD: … that he was responsible for. But in terms — and closing — you know, saving an industry, as the president did, is different than stripmining companies in order to — in order to profit off of them, which is, in many cases, what — what Mr. Romney did.

Again, he’s entitled to do that. That is — that was his business practice. He’s entitled to do that. Nobody is begrudging him that. The question is, is that the philosophy that you want in the White House? Is that the economic vision for this country outsourcing, offshoring, stripping down companies, lowering wages, lowering benefits? I don’t think that’s the future for this country.