The November 19th issue of The New Yorker contains an interesting “Talk of the Town” piece entitled “Seeing Spots,” which is about Priorities USA ads such as “Stage.” You may remember “Stage.” It’s the ad about workers whose lives were severely damaged by the unethical practices of Mitt Romney’s private-equity firm Bain Capital.
Mitt Romney senior adviser Ed Gillespie said Sunday on CNN’s “State of the Union” the GOP candidate “retroactively” retired from Bain Capital after the 2002 Salt Lake City Olympics began.
I think it’s smart of Mitt Romney to demand that Barack Obama apologize for Romney’s lies about when Romney left Bain Capital. It’s straight from the Karl Rove playbook of accusing your opponent of your own crimes. For example, George W. Bush ran away from serving in the Vietnam war, so he accused the war hero John Kerry of being unpatriotic. So long as the media doesn’t do its job investigating and reporting on the facts, the truth gets obscured in the minds of those who don’t follow politics closely.
Romney’s current problems concerning his lies about when he worked at Bain Capital don’t reside in the lies themselves, but with the possibility that the media might actually report these lies. Rachel Maddow certainly engages in actual reporting, including a conversation with Shannon O’Brien, who lost the 2002 Massachusetts governor’s race to Mitt Romney in part because Romney denied any association with Bain’s unethical activity after February 1999. Despite being paid, you know, $100,000 per year by the company. Nice work if you can get it…
Earlier tonight Rachel Maddow spoke with Boston Globe DC bureau chief Christopher Rowland about Mitt Romney’s attempt to claim he wasn’t working at Bain Capital when he was still their CEO and sole stockholder. The fact that Mitt Romney lies without qualm is no longer news, but this is an important issue because for years he has been trying to run away from Bain’s record of destroying jobs. I would like to point out that there actually is some consistency when it comes to Romney. He seems to have a spine when it comes to the moneyed elite. That’s his prime constituency, then and now. Romney is as insufferable as his “Is there a VIP entrance?” supporters, and I would bet that he doesn’t care about his lying as he simply doesn’t believe that people such as himself should follow the rules. Only I’m not a wealthy man, so my bet would have to be $10, not $10,000.
Here’s a little more than a sound bite from President Obama, explaining why he won’t back off from questioning how Mitt Romney’s business experience qualifies him to be President. I still don’t understand why his administration didn’t require much more significant regulatory reform in exchange for handing out free money to the banks. (Or I do understand, and it frightens me.) I think the maximization of profits as a primary goal does a lot of damage to our democracy, but I’m still glad to hear the President say stuff like this.
OBAMA: I think it’s important to recognize that this issue is not a, quote, distraction. This is part of the debate that we’re going to be having in this election campaign about how do we create an economy where everybody from top to bottom, folks on Wall Street and folks on Main Street, have a shot at success….And the reason this is relevant to the campaign is because my opponent, Governor Romney, his main calling card for why he thinks he should be president is his business experience. He’s not going out there touting his experience in Massachusetts. He’s saying, “I’m a business guy and I know how to fix it,” and this is his business. And when you’re president, as opposed to the head of a private equity firm, then your job is not simply to maximize profits….And so, if your main argument for how to grow the economy is, “I knew how to make a lot of money for investors,” then you’re missing what this job is about.
The Obama Campaign is going after Mitt Romney hard for his record at Bain Capital and I’m glad. They present real people who were impacted by Bain, such as steelworker Joe Soptic, John Wiseman, Andy Cruz, and Jack Cobb.
Obama deputy campaign manager Stephanie Cutter has said that Obama is not attacking private equity companies in general, but I wish he would. They’ve played a devastating role in decimating the U.S. capacity to actual make things.
In the March 19th New Yorker, Louis Menand takes a look at Mitt Romney’s business background. Romney, of course, makes much of the fact that his ability to acquire more money than other people makes him more fit to be President. There’s a certain kind of logic to it, that having more money and power means that one should have more money and power. Call it the Doctrine of the .01%.
Mitt Romney - The King of Bain (Photo credit: DonkeyHotey)
Talking Points Memo put together a video mash-up of Mitt Romney’s dwindling job creation claims, which began at over one hundred thousand, became tens of thousands, and now stands at thousands. Meaning that the truth is…?