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&lt;p&gt;Uh-oh. Candidates are still dithering over whether or not to enter the Republican primary for the 2012 Presidential election, and we&#39;re already getting a sense of what the Democrats&#39; narrative is going to look like should some of them win&amp;mdash;specifically Mitt Romney.&lt;/p&gt;&lt;p&gt;&lt;img src=&quot;http://www.vault.com/VCM/blogs/Mitt_Romney.png&quot; alt=&quot;Republican presidential candidate, former Massachusetts Gov. Mitt Romney talks with reporters outside Allentown Metal Works in Allentown, Pa., Thursday, June 30, 2011.&quot; align=&quot;left&quot;&gt; Given the blog you&#39;re reading, you&#39;ve probably guessed already that it&#39;s going to have something to do with his time at Bain &amp;amp; Co.&lt;/p&gt;&lt;p&gt;You&amp;rsquo;d be correct.&lt;/p&gt;&lt;p&gt;&lt;em&gt;Politico&lt;/em&gt; is featuring a piece today with the cringe-inducing headline &quot;The Bain of Mitt Romney&#39;s campaign.&quot; It presents a series of attack ads used against Romney in the 1994 Massachusetts Senate campaign, an election he lost to Ted Kennedy. The theme of those ads: that during his time at Bain and Bain Capital, Romney bought companies, cut jobs, wages and benefits, and made a substantial amount of money in the process.&lt;/p&gt;&lt;p&gt;Most notable in the current climate is an ad that the Kennedy campaign didn&#39;t actually get around to using&amp;mdash;one that &lt;em&gt;Politico&lt;/em&gt; says &quot; would have been damaging had it appeared when it was produced nearly two decades ago. But it could take on new relevance in a 2012 campaign in which Romney is touting his business career as proof he can lead a national economic turnaround.&quot;&lt;/p&gt;&lt;p&gt;The details of the ad focus on Romney&#39;s role in rescuing Bain and Co. in 1991, when the firm was in a spot of financial difficulty after its creditor failed. The rescue involved layoffs and the forgiveness of &quot;several million dollars in loans forgiven by the FDIC,&quot; according to &lt;em&gt;Politico&lt;/em&gt;--a move that the ad paints as a government bailout.&lt;/p&gt;&lt;p&gt;Here&#39;s the full transcript from the ad:&lt;/p&gt;&lt;blockquote&gt;&lt;em&gt;&quot;Mitt Romney says he saved Bain and Company. But he didn&#39;t tell you that on the day he took over, he had his predecessor fire hundreds of employees. Or that the way the company was rescued was with a federal bailout of $10 million. According to the Globe, Romney&#39;s company failed to pay at least $10 million to a failed bank, and the rest of us had to absorb the loss. Romney? He and others made $4 million in this deal, which cost ordinary people $10 million. Mitt Romney: Maybe he&#39;s just against government when it helps working men and women.&quot;&lt;/em&gt;&lt;/blockquote&gt;&lt;p&gt;Should Romney prevail in the Republican primary, we can surely look forward to much more dissection of his record at Bain and Bain Capital&amp;mdash;especially as the issues of layoffs, job creation and bailouts loom so large today. Indeed, &lt;em&gt;Politico&lt;/em&gt; points out that the flak has already started flying:&lt;/p&gt;&lt;p&gt;&quot;Romney&amp;rsquo;s 2012 foes are starting to deploy the same attack lines Kennedy used 17 years ago. When Romney criticized President Barack Obama over last week&amp;rsquo;s bleak unemployment report, Obama adviser David Axelrod shot back on Twitter: &#39;In business, Romney made a fortune firing American workers. As governor, 47th in job creation.&#39;&quot;&lt;/p&gt;&lt;p&gt;I, for one, can hardly wait for 2013.&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Read More:&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;em&gt;Politico:&lt;/em&gt; The Bain of Mitt Romney&#39;s Campaign&lt;/p&gt;&lt;p&gt;Mitt Romney: From Bain consultant to US president?&lt;/p&gt;&lt;p&gt;&lt;em&gt;&lt;strong&gt;--Phil Stott, Vault.com&lt;/strong&gt;&lt;/em&gt;&lt;strong&gt;&lt;/strong&gt;&lt;/p&gt;

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