I watched the full 28 minute...

...video, "When Mitt Romney Came to Town," and it's devastating. 

While this video won't prevent Romney from winning the South Carolina primary -- or the Republican nomination -- his record at Bain Capital could end up being a huge albatross around his neck in the general election.

Andrew Sullivan has a good piece today on Romney and the video in which he quotes the right-leaning New York Post (my emphasis):

Romney's private equity firm, Bain Capital, bought companies and often increased short-term earnings so those businesses could then borrow enormous amounts of money. That borrowed money was used to pay Bain dividends. Then those businesses needed to maintain that high level of earnings to pay their debts...

* Bain in 1988 put $5 million down to buy Stage Stores, and in the mid-'90s took it public, collecting $100 million from stock offerings. Stage filed for bankruptcy in 2000.

* Bain in 1992 bought American Pad & Paper (AMPAD), investing $5 million, and collected $100 million from dividends. The business filed for bankruptcy in 2000.

* Bain in 1993 invested $60 million when buying GS Industries, and received $65 million from dividends. GS filed for bankruptcy in 2001.

* Bain in 1997 invested $46 million when buying Details, and made $93 million from stock offerings. The company filed for bankruptcy in 2003.

Romney's Bain invested 22 percent of the money it raised from 1987-95 in these five businesses, making a $578 million profit.

When I was in business school in the late 1980s and early '90s, we were taught that what companies like Bain were doing were good for the economy. While it was true that some workers would have to be "let go" in the process, they would quickly find other jobs -- ones more in keeping with their skill sets. That's all a part of "creative destruction," you see.

But reality can turn out a little differently than the theory taught in B School classrooms. And the reality is, while the rich have gotten fabulously richer in the last thirty years, the middle class has been decimated.