Bain & Company:
Jeffrey Zients will serve as President Obama’s new acting director of the Office of Management and Budget (OMB), but the president’s decision might undercut attacks on Republican Mitt Romney’s career as a venture capitalist, because Zients and Romney are both alumni of Bain & Company.
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President Obama’s top campaign strategist, David Axelrod, criticized Romney for having a “Bain mentality,” just as some of Romney’s Republican presidential election rivals have blamed him for layoffs that took place at companies that Bain Capital financed.
The White House emphasized Zients’ “twenty years as a CEO, management consultant, and entrepreneur” when announcing his promotion, but did not mention that Zients’ used to work with Bain & Company.