Thanks to a $5 million donation from a wealthy casino owner, a group supporting Newt Gingrich plans to place advertisements in South Carolina this week attacking Mitt Romney as a predatory capitalist who destroyed jobs and communities, a full-scale Republican assault on Mr. Romney’s business background.
It’s like a paragraph straight out of a Tom Wolfe novel.
But this fight hasn’t all been quite so fun. It is a mild G-rated preview of the version of this attack that the Obama team would pull out in the fall if (as seems likely) Romney will be the Republican nominee. If you think about it, and especially if you think about what it is supposed to tell us about Romney, it’s really a profoundly preposterous attack. And if they’re properly prepared, the Romney team could actually turn it to their advantage in the general election, if they do in fact get that far. But it has revealed two problems that conservatives who have risen to Romney’s defense and the Romney team itself will need to address. The former have too easily treated finance as the entirety of capitalism, and so have needlessly made both the defense of finance and the defense of capitalism more difficult. And the latter have too easily treated Romney’s Bain experience as the entirety of the case for his election, and so have needlessly made both the case for Romney’s Wall Street work and the case for his candidacy harder.
I was going to expand on all that, but then I read
this Jon Last post from this morning, which does that and more, and better than I could. Well worth your while.
I come at this from a different angle, but I think you're right about Conservatives handling this wrongly. Obama will almost certainly run against Wall St., and a whole lot Americans will side with him in that dichotomy. Romney should/must separate himself as much as possible, and to do that, he should lead a movement of non-finance corporate America against the un-capitalist excesses of the wall st. behemoths.
On the other hand, if there's a politician left in the land that doesn't take a lot of money from those behemoths I'd be surprised, so I probably shouldn't hold my breath waiting for Romney to separate himself.
Reply to this commentLinkReport AbuseFirst of all, finance is the foundational basis of capitalism. You have to have capital in order to have functioning markets. Finance is how you get capital.
Second of all, Romney was not financing companies to success. You don't fiddle with some numbers on a balance sheet to turn a company around. It's through evaluation of core competencies, evaluation of opportunities, weaknesses, and developing and executing a strategy to make it happen.
And even in spite of all that, -everyone- and I mean EVERYONE, is resistant to change within an organization. So for a Romney like guy to come in and set a new strategy, even if that strategy was handed down from God on gold plates (See what I did there), that strategy will fail unless you can effectively communicate, bring people on board and lead them to execute that strategy.
Reply to this commentLinkReport AbuseYuvall: you and everyone else here are missing something. Every single Republican in this debacle has shouted how they “will control the size and growth of government.” Would someone tell me how you are going to do that WITHOUT “firing people”??? It Cannot Be Done!
Reply to this commentLinkReport AbuseSo why are these idiotic arguments against Romney being made? Well, for one thing Romney has used the underhanded and dishonest trick of having “outside” PAC’s smear, tear down and generally do a character assassination job on Newt. All the while Mitt stands there and like Bart Simpson, smugly says “well---it isn’t I, not me, no way man, I didn’t do it—it was those guys in the PAC’s who support me but I can’t control them. Then we have Ron Paul doing the same thing to Newt and justifying it in Lord only knows what logical machinations in that nutso mind of his. So Newt pushes back, Perry and Santorum and Huntsman and Bachman jump in and we now have the promised bloodbath brought on by “politicians, being politicians” though they all deny they are politicians and what happens is once again the public and national interest is placed below the aspirations of the “politicians” who are either outsiders who will clean up the government or “insiders” who are best qualified to clean up the government. Confusing—you bet. So what do we do?
How about the Republican’s start acting like grownups. We certainly don’t have any on the Democrat side. Acknowledge that in a free, capitalistic society we have winners and losers. If the current crop can’t do that; then it is time for the RNC to get together and figure out how to draft an adult at the convention. Rubio, Ryan, Christie—I DON’T CARE—just get an adult in this debate and election.
i certainly hope you were as outraged when romney went left to make cheap shots at perry on SS. cant reform entitlements w/o breaking some eggs and willard sure wasnt acting like a grown up then huh?
Reply to this commentLinkReport Abuse"If you think about it, and especially if you think about what it is supposed to tell us about Romney, it’s really a profoundly preposterous attack."
Hardly. It is an extremely potent attack. This is why you are seeing Romney's rivals using it: they have focus-grouped these attacks, and they DO resonate with voters.
As I said yesterday, the Vulture does play a vital role in the ecosystem. It liberates calories from sick and dying animals and recycles them. But let's not pretend a Vulture is an Eagle. Or even a Penguin...
Look for a lot more of it to come in the months to follow, and it's very difficult for Mitt to defend against these charges while still maintaining the idea he is a 'job creator.' He is nothing of the sort, and never has been.
Reply to this commentLinkReport AbuseAs yes, Vultures and Eagles. And Penguins.... So important to the free market they deserve capital letters. One even deserves an ellipsis.
Meanwhile, TheFish looks, walks and quacks like a Marxist duck.
Reply to this commentLinkReport AbuseI would specifically challenge you to discuss the actual topic, but you seem strangely loathe to do that, preferring instead to waste time with ad hominem attacks, and comments that provide no greater understanding of any topic to any reader. I honestly don't understand the motivation behind such actions.
Reply to this commentLinkReport AbuseYou are what you are, Fish, it's not ad hominem. Why can't you accept it? I am what I am. I love free markets. Your obsession with Bain is weird. Actually, it's not Bain entirely. It's the parts you don't like. You ignore the businesses Bain helped. You ignore the profit they generated. You distort what they actually did - and then you turn around and call me and anyone who criticizes you that we're not adding any understanding to the conversation, then you get your leftist email friends to vote "thumbs up!" on your posts, which you told everyone you do (which I find kind of sad on both counts.)
You don't like free markets. You like government interference - a lot of it. Not sure why you bristle at this when it's pointed out, as well as when it's pointed out that your favorite kind of system doesn't work too well.
Reply to this commentLinkReport AbuseBoring. Try actually discussing the topic and you'll get a response from me; I'm not interested in your (inaccurate) opinion of me in the slightest.
Reply to this commentLinkReport AbuseCall them boring - check
Reply to this commentLinkReport AbuseTell them they lost the argument and aren't worth the time - check
Refuse to respond to anything they say, after accusing them of the same - check
Thumbs up! less than one nanosecond after posting - check
Hostess (bakers) folds today. Too bad Bain wasn't there for them. One more company gone.
Reply to this commentLinkReport AbuseToo bad their low quality products were found wanting in the marketplace.
Reply to this commentLinkReport AbuseFor my money, thefish is a bit of a twit, but he's cleaning your clock in your debates with him.
Reply to this commentLinkReport Abuse"But let's not pretend a Vulture is an Eagle"
You've used this yesterday. The eagle and vulture are not in the same category of symbolism. The eagle represents a founding, a philosophy and a tradition. The vulture represents merely a function. Who would confuse the two?
Reply to this commentLinkReport Abuse"You've used this yesterday. "
That's why I wrote 'as I said yesterday.' Did you somehow miss that part?
"Who would confuse the two?"
Romney would, apparently. He seems to view himself as the latter - or would have voters view him that way. But the reality of his experience belies that idea.
Reply to this commentLinkReport AbuseIf you were honest with your animals, you would acknowledge that Bain made a lot more money than it invested while Romney was there. That was the sole purpose of Bain, which is a purpose you don't like, because in your eyes it's a Porpoise, which makes as much sense as anything else you write about that company.
Reply to this commentLinkReport AbuseJust to be clear, I have no problem with Bain or the business that it's in. I seek no laws nor regulations to stop them from doing what they are currently doing. I have never indicated that I wish to change anything about their business whatsoever.
The sticking point lies in Romney's repeated claims that he is a 'job creator' or in the 'job creation' business. He clearly wasn't either of those things.
Did Bain help some companies survive? Yes, they did. Did they make a ton of money for their investors? Of course. Did they also run some companies into the ground, and send American jobs overseas? Of course they did. To pretend otherwise is a joke. But, that's exactly what he and his campaign would have you believe.
The fact that he continues to profit off of Bain's activities, and refuses to release his tax returns to document just how little he pays in taxes on those profits, opens him up to continued and meaningful criticism on the subject. It was Romney's choice to make his business experience the center of his campaign; he now gets to own that decision.
Reply to this commentLinkReport AbuseDidn't Staples grow substantially during Romney's tenure? If so, doesn't that make him a job creator?
Anyway, I predict this "job creator" title won't matter much. It's a piece of campaign rhetoric that gets flung around, and it can be scrutinized to a certain point, and beyond that you end up splitting hairs.
Reply to this commentLinkReport AbuseThe entire premise of Romney's campaign and pitch is that he IS a private-sector 'job creator' and someone who knows how to fix the economy that he has claimed Obama 'destroyed with Socialist policies.' The question of his experience cuts directly against this central claim, so I think it is relevant.
You can see where Obama and his crew are going to be headed with this thing. Romney is absolutely the avatar of the 'rich kid,' who spends his entire career playing with other people's money for profit. It doesn't matter if the companies Bain invested in fold or not, as long as the investors made money, because the point wasn't to 'save' jobs or the companies, but to make money. There's a valid place in our economy for this, but it seems heartless and it's really tough for the common guy to relate to.
Comments about enjoying firing people really don't help the narrative, either...
Reply to this commentLinkReport Abuse"You can see where Obama and his crew are going to be headed with this thing."
Your heartfelt concern for the fortunes of the Romney campaign is welcome. This guy has supporters coming out of the woodwork.
What does matter is if voters think that Romney :
-understands what helps business
-understands what hurts business
-will be fair and evenhanded with business instead of picking favorites based on some partisan preference.
- has a mind to make gov't less burdensome to business through less taxes and less regulation.
One man spent his formative years contemplating business and the other one spent it digesting leftist philosophy.
Everyone speaks of the onslaught that Obama will unleash in the campaign. It will be matched in every way by the one Romney will unleash.
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