Welcome to the Democrats' Julia Crow Era

When I watch the Democratic attacks on Bain Capital, I wonder: just how do Democrats think the economy is supposed to work?  Take the Kansas City steel plant that Bain took private in 1993 and reassembled as GST Steel.  Here we had a faltering unionized steel plant.  Nothing remarkable about that, of course.  Unionized steel plants had been going out of business for two decades previously, because they were just too expensive and antiquated to be profitable.  I remember experiencing that visiting Cleveland, Ohio, in the 1970s.  The grand old basic steel plants in the Cuyahoga valley south of town were already wastelands, shuttered and abandoned, and their "good union jobs" gone for good. Bain struggled with GST Steel for nearly a decade and then shuttered the plant in 2001.  Now, in 2012, the Democrats run an ad featuring a former employee calling Bain a "vampire."  I assume he meant that Bain sucked the blood out of the company and then spat it...(Read Full Article)

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