Romney Attack Video Goes Places Democrats Only Dream of Going

Posted by: Dan Beucke on January 11, 2012 at 12:00 PM

Screen shot 2012-01-11 at 11.50.21 AM.png

Ronald Reagan famously popularized the Eleventh Commandment, “thou shalt not speak ill of any fellow Republican.” Now that my colleague Josh Green has obtained a copy of the highly anticipated attack video on Mitt Romney by Newt Gingrich supporters, it’s clear the Eleventh Amendment is not only no longer operative. It’s been replaced by something akin to “thou shalt roll with anything that smites thy GOP neighbor, shewing no mercy.”

Josh says the 28-minute video, funded by the organization Winning Our Future, portrays the misery of workers purportedly fired as a result of Romney’s Bain Capital restructurings. (A snippet is viewable on the group’s web site; screen grab above.) Romney is portrayed as “rich beyond imagination” and out of touch with common folks. It has Romney laughing while he says, “Make a profit. That’s what it’s all about, right?” Many Republicans and other supporters of laissez-faire capitalism might quibble only with the last word of that statement, possibly suggesting “duh!” instead. But Romney’s rivals are desperate to derail his Inevitability Express, and have seized on a narrative of a “ruthless capitalist” heading into the Jan. 21 primary in South Carolina, where unemployment lingers at 9.9 percent. To add one last kick, Romney is shown in the video speaking … in French.

Josh says several facts — including Romney’s net worth and the number of homes he owns — are misstated. He quotes a consultant who compares the video with the notorious “Swift Boat” treatment that Democratic Presidential candidate John Kerry got from an outside political group in 2004.

The Romney campaign says this is “the type of criticism we’ve come to expect from President Obama and his left-wing allies at MoveOn.org.” Indeed, somewhere an Obama campaign official is probably counting the ad dollars they just saved.

Reader Comments

The Grinch

January 12, 2012 1:25 AM

Never thought I'd see the day when a Republican would turn on capitalism. Its outrageous that Gingrich has made this video and is citing hit-pieces such as, "Romney's Steel Skeleton in the Bain Closet," to explain why criticizing Romney for investing capital with the hopes creating a profit is not attacking capitalism. The article clearly explains what the left is going to attack Romney with in the general election, and it is sad that Gingrich is using it along with this video to encourage an "Occupy Wall Street" type attack against his very party.

If you read the article, Gingrich's anger stems from the fact that Romney's company invested in a Kansas City steel mill at a time when the original owner was losing money and planning to close shop. It becomes very apparent that the bad press that Gingrich and the Left are trying to associate with capitalism - and Bain Capital for putting these companies on life support - are the worker's bad feelings that are inevitably associated with the white-collared yuppies who invested the capital and were just unlucky enough to be around for Armageddon.

And I get it. You are a worker, things are bad, and the original boss just bailed on you. These new white-collar types are outsiders with new ideas, and change is frustrating. When these investments fail, of course there are going to be bad feelings. Of course every worker is going to look back with hindsight and criticize the "Mean Rich Guys" for not consulting the worker for a brilliant-profitable idea to save everyone's job (in spite of the fact that Bain is in the best position to call these shots.) However, why is the question not asked (especially by Gingrich), about what the tune is when the investment does, in fact, produce a sustainable company? And in the Kansas City steel mill situation to be specific, why isn't a "Reagan Conservative" pointing out that the investment made by Romney kept the company operating for eight years more than if Bain had just let the original boss close shop? What kind of "Reagan Conservative" instead criticizes the infusion of capital, invested by groups such as Bain, in these situations?

Obviously, according to Gingrich and the left, we should also scorn Romney for exercising every responsible option and filing for a federally available program that might have kept the mill open as well - this could have saved the jobs, mind you. And the one thing that Romney didn't do that he should be skewered alive for? He didn't allow the investors' capital to be destroyed by continuing to pursue an economically inefficient venture. Ultimately, he didn't allow the rich guys' money to be wasted by transferring it to workers who were no longer involved in a beneficial community enterprise. Shame on you Romney, you should feel rotten for protecting the investors' interest (which was your job) and Bain's reputation, which is what allowed you to produce the investment in the first place.

Apparently Gingrich believes in Obama's investment decisions as shown in the Solyndra debacle. Here, the president turned his back on the taxpayers' best interests when it was apparent that the investment was being thrown away on a wasteful venture. Invested in my country, decisions such as those displayed by our leadership in Solyndra weaken the country by destroying trust through wasted capital. Yet, Gingrich does not support the alternative Romney approach that would have protected my investment in this situation. Thus, the Romney approach, according to Gingrich's criticisms, would have really put his panties in a bunch. Had Obama walked away before the taxpayer investment was lost, or even worse, if the president had actually walked away with positive gains for the taxpayers when it was wise to do so, Gingrich would have created a 28 minute video demonizing the decision - unreal!

Three things are clear about Gingrich:

1) He is in fact arguing directly against capitalism, the willingness of those with capital (the mean rich guys) to invest that money into the system is incentivized by the prospect of making a profit for choosing to do so.

2) Yet, he does not think that rich people should be able to make a profit on the capital that they decide to invest unless, in the case that things don't work out perfectly, the capital is redistributed to the workers, and the workers can continue to produce unprofitable goods into the foreseeable future at the investors' expense. This erases any incentive for those with money to take the risk and invest in capitalism.

3) Gingrich's vision of capitalism is fundamentally flawed, to put it nicely.

To say that Bain Capital did not practice capitalism because the rich intended to profit from the investments made, and continued to desire this even if things didn't work out perfectly, is ridiculous beyond words. Listen, whether the rich are total jerks or not, the rich have money and no one can force them to invest this capital into economically productive ventures if they do not want to. As sure as anything, though, to remove the investors' ability to profit - as Gingrich suggests - because someone such as Romney has to make tough choices that protect the capital entrusted to the venture, and that because of these "heartless" choices jobs might be lost, is a ridiculous idea that would tank the capitalist system itself.

You want to talk about job loss? You want to talk about "greedy" rich people not investing into our collective prosperity, our nation? Just look at what Gingrich has to say.
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Read more: http://dailycaller.com/2012/01/10/pro-gingrich-super-pac-aims-michael-moore-style-attack-ad-at-romney/#ixzz1jDoGm600

anony321

January 12, 2012 12:56 PM

Dear Grinch,

YOUR SOLYNDRA EXAMPLE IS TOTALLY FLAWED!

President of The United States of America Barack Obama cited Solyndra early in his presidency, because the company was producing NEW INNOVATIVE PRODUCTS in the USA.

As a result of the innovation, existing technology prices dropped from 7$ to 3$; making the new innovative technology unable to compete when China got scared and flooded the market with cheap solar panels.

Now, you might say this was all Obama, but it was not, because he did not write the grant, and it was not his idea to invest in energy, it was the previous administration.

Of great importance and hopeful interest to you (because you look like a big dummy complaining about one this one failed investment; THAT HELPED THE WHOLE INDUSTRY GREATLY..) is the fact that Solyndra was 535 million of a total package of 38 BILLION.

Read these Articles and let me know if you need help understanding what President Barack Obama really accomplished for our NATIONS ENERGY INVESTMENT; by SCARING CHINA. Who is the better business man? Why were you unaware of the LIES you LOVE.

http://blog.rmi.org/WhatsLightingUpWebSolyndra

http://1bog.org/blog/inforgraphic-solyndra-versus-the-solar-industry/

GOP LOOSES 2012! THE PEOPLE BITE THE HANDS THAT FEED! WE SEE FINANCIAL ACTIVISM ON THE PART OF THE 1%. WE ARE NOT WAGE SLAVES!

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"The Wealth Debate" is a running discussion of wealth, poverty, the economy and income inequality in the U.S. and the world. It was started shortly after the Occupy Wall Street movement sparked a global protest about the fallout from the financial crisis and money in politics. You can reach the editors, Dan Beucke and Mark Gimein, by email, or follow BloombergNow on Twitter to keep up with posts.

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