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You can spin these out forever. But beyond all the specific accusations, they're painting a picture that makes Romney look ridiculous, like a joke. They're making Romney look stupid and powerless on the front where he believes he's one of the standouts of his generation. And that's plain lethal for a presidential candidate.
But how does it come into play? Simple. Mitt Romney has two claims on the presidency: successful governor of major state and captain of industry. He's largely written off the first by disavowing a genuine and perhaps far-reaching accomplishment: health care reform. Which leaves him with Bain Capital.
The play here is to make this swirl of awfulness the first thing people think of when that phrase gets uttered.
Think about it this: when do you think the next time will be that Romney talks about Bain Capital on the stump? What will people be thinking about when the 15 minute convention video about Romney's life gets to the part about Bain capital? The Obama camp is working to build a mental roadblock in front of any persuasive discussion of Romney's professional life, something which should be the major predicate of his whole campaign. They're not quite there yet. But they're getting close.
While I was writing this post a friend emailed and asked "Why now? Isn't it better to hold this for the convention or some time later?"
In a word, no. The Obama team's goal here is to make the entirety of Romney's professional life toxic and off-limits before Romney even gets the chance to introduce himself to much of the public. And they're off to a pretty good start.