Former Bain Executive Said Romney Was Directly Responsible for Ampad Layoffs

“You can’t be CEO of Bain Capital and say, ‘I really don’t know’”
Politics • Views: 32,655

Andrew Kaczynski discovered a 2002 interview that sheds more light on the situation with Mitt Romney’s Bain Capital and the Ampad paper company, and it doesn’t make Romney look any better: Former Bain Executive: Romney Bears Blame for Ampad Layoffs.

According to a 2002 interview with former managing director of Bain Capital Marc Wolpow, Romney was directly responsible for Ampad’s layoffs. Wopow and a fellow Bain partner sat on the board of directors of Ampad, and were responsible with carrying out the Bain business plan that caused the layoffs.

“My job was to maximize the profits to Bain Capital’s partners from the Ampad transaction,” Wolpow told the Globe in 2002.

Wolpow said Romney was responsible for the business plan carried out by Bain in Indiana.”Mitt’s employees executed that transaction,” he said. “We carried out the business plan. He was CEO of the firm.”

”I reported directly to Mitt Romney … You can’t be CEO of Bain Capital and say, `I really don’t know what my guys were doing.”

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Last updated: 2021-06-05 2:51 pm PDT
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