It's On

Romney Prepares Bain Counterattack

As Newt debuts movie.

After several days of attacks on his record at Bain Capital, Mitt Romney is readying a defense. That defense starts with a series of ads featuring Bain employees speaking positively about the company, a direct response to a 28 minute Bain movie Newt Gingrich released featuring people laid off by Bain. One adviser admits the Romney campaign was caught off guard by the attacks on Romney's private equity firm, but that now they're preparing to defend it more aggressively. “Being in favor of capitalism is always a major positive in the Republican primary,” said Kevin Madden, one of Romney's advisers. Despite reports that quoted Gingrich as saying he'd crossed a line, he now says he isn't backing down. At a news conference in Greer, South Carolina Thursday, Romney addressed the attack ads head on, insisting that the "few thousand jobs" that were lost when certain enterprises failed is nothing compared to the more than 100,000 jobs that were created with Bain's help.