Skip to comments.Newt’s Night
Posted on 01/16/2012 9:00:16 PM PST by TBBT
Newt Gingrich was as tough as nails, and deserved extra praise for not taking Juan Williamss race-baiting. No, I dont see that. Every person who believes in a color-blind society, especially tonight, ought to thank Newt for that. He then went on to show (again) he will be able to challenge President Barack Obama on nearly every fact and anecdote that could come up should they ever debate. The standing ovation he received was more than well deserved. To paraphrase a little: When he is right, he is great. The ongoing problem is when he is wrong. But tonight he was right about a lot, and said it better than anyone.
(Excerpt) Read more at nationalreview.com ...
Will it have an effect? Maybe... Will it be big enough... Hard to tell. But I'm not getting my hopes up.
I was very impressed with Newt, but I’m still very concerned that with SC being an open primary, that Democrats and Libertarians will try and boost Willard and RuPaul. There’s plenty of Democrats who can cross over and give Romney a boost and have the MSM claiming that he can win in the South, when in fact, he can only do so with the help of liberals. Those crossover voters won’t be voting for Republicans come November.
Croud response is hard to reconcile with polls. I think Newt should be the One! Press seems to think Romney.
Romney is a FOP!
You know Newt could have challenged Mitt to go over his 59 point plan in 90 sec and Newt would do his in 25 secs! Mitt would have been there 15 minutes trying to explain his!!!!
Nice backhanded praise from the liberal Romney rag.
Democrats voting in Republican promaries gave us McCain. When can we stop this cr*p?
As long as someone gets one vote more than Romney in SC then Romney can’t and won’t win the nomination. I’m a Santorum guy and I think he still has a chance, but if I were living in SC, after tonight I’d cast my ballot for Gingrich because he has the momentum to put Mitt away now (and then I’d go back to campaigning for Santorum)
Clearly contradicted himself regarding his Super Pacs. Said he hadn't talked with them for months after previously saying he hasn't had any contact with them. Hope Newt can make some hay out of it starting tomorrow.
Why does the GOP continue to permit this?
It was a great night for Newt! He is backing away from his love of the “Nanny State” mentality by explaining that one Union Janitor could be replaced by 30 school kids.
Although he barely got it inserted into the conversation Newt did say that Government Spending should be cut to meet income. So there is new hope for Newt.
I loved this statement from Newt to Juan Williams: “In this PC world, I know we’re not supposed to use facts that are uncomfortable, but the fact is - - - .”
Because the GOP doesn’t like conservatives.
Dick Morris, who’s usually the biggest Romney cheerleader in the world, just said on Hannity that Newt won the debate going away and he think he might win the SC primary. I had to ask my wife was a hearing things. That’s what the old toe
sucker said. Newt might win the SC primary.
Newt, the Gotcha King got off a few tonight and everyone bows down. Not a quality on my short list of presidential requirements.
I sure hope so.I want Newt.
The 4 years Newt balanced the budget were the only 4 years in I think the last 80 years or so that it was balanced. So I think he can be trusted to manage federal spending.
When Hannity asked Morris who won, Morris said “Newt Newt Newt.” Morris said it was a “classic vintage Newt Gingrich performance” and that Newt was “absolutely terrific.” He said Newt was one great debate away from getting back into the race and he had it tonight. He only criticized Newt for the first 20 minutes when he was still talking about Bain Capital. He said his “hunch” is that Newt could win the primary on Saturday, but he expressed concern that the evangelical endorsement could keep Santorum and Newt tied for 2nd place, which means Romney will win it.
I think it’s a shame the “conservative” media carried Romney’s water and bought into his line that the criticisms of him at Bain were “an attack on capitalism.” The question by the WSJ questioner was right on point in terms of getting to the heart of Romney’s predatory practices at Bain, although it was phrased in an incredibly soft way. I wish Newt or Perry had been able to express exactly what Romney did as clearly as how the WSJ said, but in a much tougher accusatory tone. Newt went on and on about “raising questions” but he didn’t take the time to cite those specific questions again.
The fact of the matter is Romney used questionable, abusive, predatory financial tactics at Bain such that even when the companies Bain acquired went bankrupt, Bain would not lose any money on them. Bain took out large loans in the names of the acquired companies and paid that money back to themselves as “dividends” and “fees.” This drove these firms, many of them already in a weak position, deeper into debt. Many of them did then go bankrupt, and couldn’t pay back those loans. But since Bain had already taken the bulk of the money borrowed on those loans as consulting fees, they got to keep all the money.
In at least one public case the creditor who was taking the loss on the bankruptcy threatened to sue Bain for “unjust enrichment” and Bain settled with them to some degree. But this was a pattern, the status quo of how Bain handled its acquisitions. Their business model was split between two things, turning troubled companies around to sell them later, which is good, but secondarily to borrow big money on all of these companies and then transfer it to themselves free and clear, knowing that the creditors could no longer make any legal claim to that borrowed money since it was essentially accounted for as a “fee” paid to Bain and therefore no longer an asset of the acquired bankrupt company.
3 of the 10 biggest firms Bain acquired went bankrupt, yet Bain themselves walked away with net profits on them anyway. That’s something that doesn’t happen to normal people in the real world. Normal people don’t get to take out a loan for a million dollars, declare bankruptcy and then keep the million dollars. But that is essentially what Bain did over and over again due to the tricky loopholes within the legal relationship between a parent company and its subsidiary.
I thought it interesting also that Romney is more than willing to take credit for the companies that continued to be a success after he left, but willing to toss others under the bus for the ones that went south following his departure.
He is not a very intellectually honest individual.
Because primary voting rules are made by the states. California voters recently approved identical "crossover" voting through a ballot initiative. These rule changes have been a long-standing goal of the "bottom-up" strategy of Soros's Shadow Party. They give Democrats a huge advantage at the state level.
This was the post-debate Twitter analysis that showed TERRIBLE results for Romney and very high ratings for Newt. Paul had the highest ratings but of course we know his generally young, naive supporters know how to spam online polls.
Wow! Thanks for the detailed analysis!
Romney is used to “turning companies around,” but if he is planning to do the same to the US Federal Government, then what has he said or written that he will cut baseline, year to year, Federal spending?
GOP brass do this on purpose
to ensure the establishment guy with the cash has the edge
used to be primaries were a real run
how long since one went past South Carolina?
1980 I think...
” - - - but of course we know - - - “ differs from “let us assume” in what way?
Newt has gravitas and lots of zingers in his quiver. For the past week I’ve been calling Romney the spaced out Mormon. The comfort seeker who figured out the road to riches was stripping companies by taking them over. Forcing them to borrow excessively. Then to transfer those millions to Bain via huge one time dividends and sky high management fees. Also by bleeding them until they went bankrupt and the taxpayers were forced to bail out the pension fund
Only in the mind of a naive child is this capitalism and record you are proud to run on, to be elected on. I would not have said this last month but now I know Bain’s modus operandi.
**** Bian is not doing many deals these days because the borrowing spigot has been shut off
Newt did a good job tonight.
For me, the big story was how disappointing Rick Santorum came off. “Means testing” social security? That’s a loser. And his answers about some of his votes, especially “right to work”, were lame.
Because Democrats, being the pests they are, love voting in our primaries. While we have little interest in voting in theirs. 20-30 years ago everyone voted in their own primaries and respected that.
Willard “Chainsaw Mitt” Romney is a lot of things, but “dog lover” ain’t one of them.
Thank you for making this point so strongly. Most of the discussion on this Bain issue puts the focus on the loss of jobs and, unfortunately, in many conservative circles there is a hostility to workers, especially if they are unionized or well compensated. Romney was thus the sympathetic character. There likely would have been a different public reaction if the focus had been placed, as you did, on the bond holders, creditors, and other investors who lost while Bain and Romney profited greatly on their loss.
I’ll give Romney credit for being a smart guy. He came up with a pretty clever high finance scheme that worked within the law. But I won’t give him credit for being ethical, honest, trustworthy, likable, socially responsible, charitable, having a moral center, putting the needs of others above or even on par with his own, etc.
Most of the companies Romney talks about as creating jobs were ones Bain worked on as startups in the venture capital business model. No one out there criticizes the venture capital model. This seems to be an honest one that rewards great performance in the marketplace. On the other hand, Romney takes credit for investing in them, not for running them. From what I’ve seen, he was one among many investors in these companies, different people actually managed and ran the companies, and he may have sold off his investment before they created a lot of those jobs. So it’s dubious how much credit he deserves for even those.
He doesn’t take much credit for companies in the private equity business model, because this is the one that thrives on loading up companies with debt. This only helped contribute to many of them going into bankruptcy and for many of the ones that survived to struggle to grow their business, due to being saddled with so much debt and interest payments. And, yes, the original owners of these companies bear some blame for bringing Bain in to take control of them. But when those people remained on as partners, Bain of course cut them in on the deal to make off with the dividends and fees, so they likewise were motivated to act against the best interest of the company, the customers and the employees.
The mofo is going to kill us. Never fathomed he could get this much support. He’s as smart as his followers. Two dimensional, despite their protestations. He can’t affect change so he just causes chaos.
I agree, etcb. I do understand why they focused on job losses though, because you have to imagine that’s a lot easier for the average voter to grasp while their eyes might glaze over once people start talking about financial and accounting details. I know Newt did specifically talk about Bain taking a lot of money out of a company before it went bankrupt, with of course the emphasis being on the jobs subsequently lost.
My feeling is the best way to argue the case is to compare how Bain fared financially after its borrowing and subsequent bankruptcies vs. how the average voter would fare if the borrowed money and had to go bankrupt. The way the conservative media just piled on Newt though seems to have rattled him to some degree. I’m also not sure he’s had time to fully absorb all the details and implications of Bain’s business practices enough to feel comfortable talking extemporaneously about them without making factual errors.
Some of the smart Romney-backers like Brit Hume and Krauthammer do seem to be realizing the Bain issue is a big liability for him. Krauthammer has been calling on him to provide a good answer and I think even echoed Newt’s call for Romney to do a press conference fully defending his record at Bain. Hume said on O’Reilly tonight that if Romney didn’t come up with a good answer that explained that his activities at Bain had a “net benefit” on the economy, it would be a serious liability that could cause him to lose the election in the fall. Dick Morris said Romney’s answer about Bain tonight was “just okay.”
These are some links on the site of a guy who wrote a heavily critical book on private equity with many examples specific to Bain in it. He says the Huffington Post reported that “Axelrod is using [his book] the Buyout of America as the basis for his Romney attacks.”
The best way other than sitting in chat forums and applauding via keyboard is to open our wallets and sent Newt a $20 bill as our thanks so he can live to fight on after S.C. and Florida.
Gingrich has mentioned the janitor example several times in the last few weeks.
Although he barely got it inserted into the conversation Newt did say that Government Spending should be cut to meet income. So there is new hope for Newt.
By definition, when you cut taxes and achieve a balanced budget, expenses were cut to achieve success.
Gingrich: How We Balanced Four Consecutive Budgets
The above video was recorded in May 2010. Where have you been?
lol..... Like the infamous “Chainsaw’ Al Dunlop who is alive and well and retired w his millions.
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Britt mentioned this last night. If not handled well Bain is awful for Romney. Of course the David Axelrod way will be to pound on Bains failures and have his mass media amplify them. Good luck to Mitt being heard above this and "explaining" Bains successes. Company success or failure, Bain always seemed to be able to extract their millions
The Democrat black racists are gearing up to pound the "racist" Mormon church to get their people to the voting booths
Bain’s venture capital investment in Staples was 10%, they did not run Staples yet Romney takes credit for creating those Staples jobs. When you think Romney think flake
Amusingly enough his father was a real live “pull yourself up by your bootstraps” capitalist and industrialist.
(WIKIPEDIA)George Romney started working in wheat and sugar beet fields at the age of eleven and was the valedictorian at his grammar school graduation in 1921.
cuz we’re stoopit
Listening / watching Santorum is about as exciting as Bob Dole or watching grass grow.
Does anyone think Santorum can win against this monster?
I hear that ! Dog on the roof in a carrier.
Shoot, even when I was young and dumb, I would NEVER have done that to one of me pups.
This is true. Ricky's opposition to the Right to Work is an abominable and detestable crime against nature (google it, LOL).
Any former senator who would not instinctively and vociferously oppose SOPA is not worthy of consideration!
” I was very impressed with Newt, but Im still very concerned that with SC being an open primary.” <<<<
We need to each of us take this open primary issue up at our precinct meetings across the country! On election night after the polls close at 7:00 PM, go to your precinct meeting and get CLOSED primaries drafted for your county convention, and then on from the county convention to the state convention. THAT is how it is done. Or NOT.
If we go home and veg out for the evening and fail to attend our precinct meeting, we get what’s coming to us, in spades.
Mitt says he left Bain in 1999. Newts PAC says he filed SEC papers saying he left 2001. Romney is still getting 10 million a year in profits participation from Bain. He was able to get this deal when he left.
Thus he is still profiting from Bain’s portfolio of acquisitions. The good, the bad and the ugly. More ammunition for David Axelrod and his Jug Eared creation.