It was inevitable that Mitt Romney’s career at Bain Capital would feature prominently in the presidential race, because both candidates need to exploit it in order to win. Romney, who has opted to de-emphasize his term as Massachusetts governor, needs to convince voters that his tenure at the private equity firm imbued him with special skills to fix the weak economy. Obama, who has presided over that economy, must convince them of just the opposite — that Romney’s business skills don’t apply to the presidency and they’d be better off sticking with him. Obama’s reelection, in other words, hinges on discrediting Romney as a viable alternative. That means going after Bain and private equity.
Last week brought the opening salvo, a brutal ad that depicts Romney as having heartlessly bankrupted a Kansas City steel company in his lust for profits. A laid-off worker in the ad calls him a “vampire.”
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I'd like to see president Obama run on his record, Affordable care act and the stimulus instead of attacking Romney's career. I hear crickets.....
I think is is laughable that a career in private equity does not prepare one for the presidency, but a career as a community organizer/part time law instructor does. It is also amazing that so many people believe this. NEW PARAGRAPH: Josh shows his true colors when he states that job creations was not the goal, maximizing profits were. What he fails to leave out is that profits are not realized unless a company is successful, and that leads to job creation. The distinction is important, because Josh is using the same twisted logic that the president is trying to use. Clearly, Josh is being an Obama lapdog in making statements like this. NEW PARAGRAPH: At some point, Romney will release the full track record of Bain Capital. It will show that for every failure that led to job loss, there were about 4 successes that led to job creation. That is why Romney is so wealthy, he is extremely competent, and has the skills our president needs. Obama has a deplorable track record as president, and obviously was NOT prepared for the job when he was elected.
Obama and Axelrod love General Electric, the Democrat party's huge donor that they exempted from all kinds of taxes and penalties. "Who do you love"? It appears to Mr. Smith, on the street, that we are being educated in the belief that private enterprise, read that any person or business that makes a profit, is evil. Bain and Governor Romney are not GE but both exercised the same business ethic - make a profit. Have Americans become so simple minded and undereducated that they forget they work for companies that hire them to work toward profitability? I used to be a Harry Truman Democrat. Today, Harry is rolling over in his grave trying to open his coffin lid to scream. He met and dealt with a man who believed what today's Democrats teach in their colleges and Universities. Joseph Stalin's world was filled with an all powerful government. Today, Republicans are called unpatriotic if they refuse to raise taxes in "compromises" with Democrats who believe everyone's money belongs to government. Democrats believe there is only one way to ease the national debt. Tax the rich! That's you "folks". Reducing governments size and expenses is radical and dangerous to them.
It is not odd to review Mr. Romney's record nor to put the Equity Industry in perspective. Kevin Phillips in his well documented book, "American Theology," in excruciating detail explains the road to collapse of an economy when it is too dependent on financial operations as a high percentage of GDP. It has grown from 10% in prosperous times for the Middle Class to its present 20% or better. It surpasses our manufacturing sector and represents no net wealth since there is no tangible product produced. It is shifts money around and it usually ends up in the hands of a few, extracting the necessary medium of exchange for the rest of the economy to use. At present this is our greatest economic problem and the President has good reason to address it. Unless we elect people who have some realization of this reality that earnings on the top do not trickle down but are sitting in vaults or sequestered in absurdly priced objects, like this 120 million dollars for a painting that moved from one 1%er to another. It did essentially zero for the rest of the nation. What a waste of potential human endeavor!
we still have democrats in this country that think this is their father's party, have no idea it's be taken over by far left liberals, the American people really need to wake up.
Romney's term as governor is more valuable experience than his tenure at Bain; it's a pity he isn't running on that. At this point, Obama now has three years of experience as President, so comments about 'community organizer' are irrelevant.
Obviously, Obama has no record of success he can run on. His only success is winning elections. No substance in that man! As a venture capitalist, Obama was a failure. Solyndra, etc. all failed while he and his minions practiced their version of venture capital - only using public money. When he ran in 08, he promised to cut the deficit in half by now. No, it's worse - much worse. While promising to focus on jobs "like a laser", in fact he concentrated on saving the GM unions to the detriment of every other person in the country. He passed a "health care act" under the guise of using extra years of payments to minimize the resulting financial abyss. Let's admit it, he's a failure. Cut our lossess and elect someone else. Romney or Paul, either is a better choice.
The biggest problem in the whole equity dance is that Obama knows the damage that equity firms cause the US economy but neither he nor the Democratic are willing to take on the issue. Instead we get this dance around Romney. I do not expect the Republicans to admit the reality regarding the equity firms, but sadly neither will the Democrats. The American public, well it doesn't have enough brains to get out of its own way. The election itself who cares. I can have Bush III a walking disaster, I can have the wingnut section of the Republican Party or I can have a cowardly democratic party. And in all of this I am suppose to expect that somehow the American public will move beyond "bumper sticker", god, the 18th century, and what the morality kings. Please, the only thing here from my perspective is watching the very decline of an empire I predicted back in 1968.