Campaign Ad Attacks Romney’s Business Record; Obama Fundraiser Jonathan Lavine Top Exec at Bain Capital

While Mitt Romney is running on his record as a successful businessman, President Obama is trying to paint his GOP rival as bad for business. Fox News correspondent James Rosen had more on the first Obama campaign ad attacks on Romney as well as a Romney campaign web ad.

Rosen reported that the Obama campaign ad, which calls Romney a “job destroyer," focuses on the bankruptcy of a century old steel plant in Missouri which left 750 workers jobless. Obama-Biden campaign deputy manager, Stephanie Cutter said, “This is not about private equity or how Romney ran his company. It’s about whether his business experience there uniquely qualifies him to be president.”

Romney aides pointed out that GS Technologies went bankrupt in 2001, two years after Romney had left Bain Capital. The Romney campaign

put up their own ad touting Steel Dynamics, Inc. which is a company that Bain helped launch in 1994 and currently employs over 6,000 people.

The Democratic Party has banned corporate contributions to this year’s nominating convention, but The Wall Street Journal reported that a tax exempt group called New American City aims to collect $10 million dollars from Bank of America, Wells Fargo, and other firms to underwrite some activities outside the convention and some expenses directly related to the event.

Rosen also revealed that, “One of President Obama’s bundlers, the kind of fundraiser who brings in hundreds of thousands of dollars, he is a longtime senior executive at Bain Capital, named Jonathan Lavine. He was at Bain in 2001 although sources tell Fox News Lavine handles credit not private equity investments.”