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Romney likens work at Bain Capital to Obama’s auto industry bailout
The Hill ^ | 01/11/12 | Jonathan Easley

Posted on 01/11/2012 7:40:30 AM PST by Qbert

On the heels of his decisive victory in the New Hampshire primary, Mitt Romney took the attacks on his private sector record used by GOP rivals and turned them against President Obama.

Romney’s critics have accused him of destroying jobs in order to increase profits for his investment firm, Bain Capital, but speaking Wednesday on CBS, Romney said that what he did was no different from the Obama administration’s auto industry bailouts.

“In the general election I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business,” Romney said Wednesday on CBS.

President Obama has publicly touted his plan to “retool and restructure” the auto companies as “an investment in American workers.” Romney was strongly opposed to the auto bailouts, but on Wednesday likened the president’s strategy to his own. “We also had the occasion to do things that are tough to try and save a business,” he said.

Bain Capital, Romney’s former firm, specializes in providing financial and management advice, often taking over distressed companies, which in some cases results in closed businesses or massive layoffs.

Romney contends that the companies Bain turned around more than make up for the layoffs, and that he helped create more than 100,000 jobs during his time there, a figure his critics contest.

Newt Gingrich and Rick Perry spent the days leading up to the primary assailing Romney for his time as an executive at Bain Capital, calling him a “vulture” capitalist and framing the firm as an unethical institution that “undermined capitalism.”

“We expected President Obama to put free enterprise on trial and to continue his rhetoric of envy and class warfare,” Romney said on MSNBC. “We’re a little surprised to see it coming from Speaker Gingrich and others, but you know, if campaigns aren’t going well people try new tacks, I don’t think it worked last night in New Hampshire, I don’t think it will work in South Carolina.”

Gingrich has himself been criticized, most prominently by influential conservative radio host Rush Limbaugh, for waging attacks on Romney that his critics say are liberal, anti-capitalist arguments that will be adopted by the Obama campaign.

On Tuesday, the New Hampshire primary runner-up Ron Paul surprisingly came to Romney’s defense, saying Perry and Gingrich sounded “like Democrats” with their attacks.

“It is strange, those that are calling themselves true conservatives ended up attacking venture capitalism and capitalism in general,” Romney continued. “It suggests a bit of a desperate time for some campaigns.”

(Video at link)


TOPICS: Front Page News; News/Current Events; Politics/Elections; US: South Carolina
KEYWORDS: bailouts; bailouts4romney; bain; bainandcompany; baincapital; dnc4romney; fascism4romney; iag4romney; obama4romney; pandering; romney; romney4obama; romneyequalsobama; romneyforobama; romneyisobama; sharia4romney; soros4romney; tarp4romney; vulturecapitalism; vulturefund
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To: allmendream
The alternative to the necessary economic function that Bain Capital, and organizations like it provide are Government Bailouts.

And we've seen how successful these bailouts are. Crappy electric cars that catch on fire, abrogation of the U.S. Constitution and contract law seizing assets from rightful owners, giving control of companies to Unions, failed environmental and energy policy, and the list just goes on, and on, and on.

The fact that Mitt Romney can't see the difference between Bain and the U.S. Government in this matter automatically and forever should disqualify him from ever serving as municipal DOG CATCHER, much less United States President.

41 posted on 01/11/2012 8:49:43 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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To: TexasFreeper2009

Huffpo? Why not Reuters or maybe an OWS flyer?

Try to answer these to with your “sources”:

What year did GST go out of business?:
What year did Romney leave Bain Capital?:


42 posted on 01/11/2012 8:49:43 AM PST by magritte
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To: Qbert; annieokie

I’ve majorly avoided listening to any of Romney’s speeches or bites aside from the debates...but recently I listened to something while defending his position to a pundit....What a babbling weakling....there is no conviction nor strength behind his delivery , he constantly cuts himself off as he babbles away,... no focus and his weird smile plastered on his face while doing so just adds to the “theater” that he’s on stage. What a phoney!

There’s nothing in there! He’s like a college kid running for office....no skin off his nose if he looses or wins....he’s already set for life in every way....and politically as well no matter which way this flys.

Golly I sooooooo detest the man. He’s like a clone of someone elses idea of how he should “Be”.


43 posted on 01/11/2012 8:50:26 AM PST by caww
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To: running_dog_lackey
“In the general election I’ll be pointing out that the president likes to fire people too,”

LOL. In other words, vote for me because the other guy is just as bad as me.

44 posted on 01/11/2012 8:51:26 AM PST by vbmoneyspender
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To: vbmoneyspender
LOL. Thanks Mitt for cutting out the legs from all of the people who have been supporting you against Newt's Superpac attacks.

Some folks aren't worth the trouble of defending, because they will turn around and waste the effort you have expended when they double down on the same idiocy - namely, their failure to think through their comments before the comment tumbles out of their mouth.

Seriously, what IS it about Massachussetts bluebloods like Kerry and Romney that turns them into opposition soundbite generation machines?

45 posted on 01/11/2012 8:51:59 AM PST by dirtboy
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To: dfwgator
Romney has no chance in HELL of beating Obama.....zero, zilch, nada!

Imagine the debates....why even have them....Romney's religion will stop him from nailing down Obama...he'll just keep smiling when he tries.. and that insecure laughter will be seen time and again as we see now.

In the end he'll pull a McCain....never use the ammo in his arsenal...he'll use a water gun and then wipe Obamas face after with apology.

46 posted on 01/11/2012 8:56:34 AM PST by caww
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To: caww
In the end he'll pull a McCain....never use the ammo in his arsenal...he'll use a water gun and then wipe Obamas face after with apology.

Hopefully he won't stick out his tongue.

After that garbage the GOP gave us in 2008....NEVER AGAIN! I will not settle anymore.

47 posted on 01/11/2012 8:59:14 AM PST by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
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To: Qbert
If I was a Democrat strategist looking to put together an ad, it isn't too difficult here, is it? Just quote Romney's words directly: "the president took the reins at General Motors and Chrysler ......... he did it to try to save the business"
48 posted on 01/11/2012 9:00:07 AM PST by Zajko (Never wrestle with a pig. You'll both get dirty, but the pig likes it.)
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To: vbmoneyspender

Is this what Self-Combustion looks like? If so it funnier than h*ll.


49 posted on 01/11/2012 9:02:49 AM PST by Clyde5445
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To: vbmoneyspender

“anyone, but Obama” is going to become,”everyone And Obama”.


50 posted on 01/11/2012 9:04:55 AM PST by WOBBLY BOB (Congress: Looting the future to bribe the present.)
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To: Qbert

“In the general election I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business,” Romney said Wednesday on CBS.

Oh, that ought to distinguish Romney from Obama - NOT!

That sentence ought to finish Romney off if there was any justice.


51 posted on 01/11/2012 9:06:37 AM PST by DaxtonBrown (http://www.futurnamics.com/reid.php)
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To: DaxtonBrown

52 posted on 01/11/2012 9:07:37 AM PST by dfwgator (Don't wake up in a roadside ditch. Get rid of Romney.)
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To: Qbert

Romney: weak horse

Paul: crazy horse

Gingrich: work horse

Santorum: good horse

Perry: dark horse

Huntsman: a horse of a different color


53 posted on 01/11/2012 9:12:15 AM PST by exit82 (Democrats are the enemies of freedom. We have ideas-the Dems only have ideology.)
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To: Qbert
Mitt Romney is already the one guy in the country (the only one) who absolutely cannot criticize Obamacare. That's off the table as an election issue if Mitt gets the nod. No, that's not bad enough, now he makes it clear that Obama's bailout of GM is also off the table (he was trying to save the company, same as Mitt did to all those companies). And Mitt supported TARP so that's out too.

So Mitt can't criticize TARP, bailouts, or Obamacare because he is for all of that too. So what is the difference again?

54 posted on 01/11/2012 9:14:35 AM PST by pepsi_junkie (Who is John Galt?)
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To: exit82
Huntsman: a horse of a different color

More like horse fly because he's just friggin annoying.
55 posted on 01/11/2012 9:15:14 AM PST by aruanan
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To: magritte

http://www.smh.com.au/business/world-business/romneys-steel-skeleton-in-the-bain-closet-20120109-1pr7l.html

ok here’s another source.

I have no idea what problem you have with the source, the facts are the facts regardless of who reports them.

and the facts are Romney’s company bankrupted a steel mill after looting it of millions, then stuck the US taxpayer with a $44 million bailout of the employees pension plan.


56 posted on 01/11/2012 9:15:17 AM PST by TexasFreeper2009 (Go Newt!)
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To: Leep

“The great Conservative Capitalist willard has spoken.”

Rush, you will need to be salted today after you bend yourself into a pretzel to defend this. If only you had held your fire on Gingrich and Perry one more day. Enjoy.


57 posted on 01/11/2012 9:16:11 AM PST by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
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To: Qbert; holdonnow; All

Mark Levin explains “Capital Cronyism” very well in 1/10’s podcast. Here is the link.

http://www.marklevinshow.com/sectional.asp?id=32930#

It is the podcast dated “1/10 The Mark Levin Show”.

As usual, Mark is many steps ahead of the 99%. ; )


58 posted on 01/11/2012 9:16:14 AM PST by Chgogal (WSJ, Kristol, Krauthammer, Rove et. al., STFU. Thank you.)
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To: TexasFreeper2009
Romney used Bain to raid workers pension funds then stuck the government (US taxpayers) with the bill. If criticism of that is anti-capitalist then I guess I am not a capitalist. Go Newt!

AGREED!!!

59 posted on 01/11/2012 9:17:29 AM PST by NoPrisoners ("When in the course of human events...")
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To: DannyTN
the experience is not the normal breed of capitalism

What is the 'normal breed' of capitalism?

60 posted on 01/11/2012 9:17:53 AM PST by 1010RD (First, Do No Harm)
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