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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: 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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To: GonzoGOP
The only difference between Romney and Obama is that when Romney destroys the country the conservatives will get the blame.

Exactly! In the past, Republicans would get in power and America would prosper. Then the dimocRATS win and downhill it goes. Happens every time. Clinton is a the last good example.

Romney would either go full left or be blamed for anything since the first Bush.

61 posted on 01/11/2012 9:18:59 AM PST by TribalPrincess2U (NOT VOTING gets 0bamao re-elected.)
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To: dfwgator

“All you sudden Romney lovers here, this is your guy...enjoy.”

I almost pity the poor johns who fall in love with the whore.

But I don’t quite get there.


62 posted on 01/11/2012 9:19:51 AM PST by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
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To: TexasFreeper2009
If true, he's done.
63 posted on 01/11/2012 9:24:28 AM PST by Chgogal (WSJ, Kristol, Krauthammer, Rove et. al., STFU. Thank you.)
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To: pepsi_junkie

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

Here at “Distinction Without a Difference Political Hospice”, we offer cyanide in TWO great flavors! You may drink your lethal dose in our now classic Red Velvet Mocha, or our NEW White and Delightsome! The SAME great drink in TWO different flavors!


64 posted on 01/11/2012 9:24:41 AM PST by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
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To: Qbert

So does this mean Romney thinks BO’s bailouts of the auto industry etc. were a good thing? If so, maybe he better run on the Rat ticket for President.


65 posted on 01/11/2012 9:25:44 AM PST by Maryhere ("HE comes to rule the earth")
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To: Qbert

So does this mean Romney thinks BO’s bailouts of the auto industry etc. were a good thing? If so, maybe he better run on the Rat ticket for President.


66 posted on 01/11/2012 9:27:22 AM PST by Maryhere ("HE comes to rule the earth")
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To: Chgogal

“If true, he’s done.”

In the general, yes. In the primary ALL of the media will cover for Romney and continue to trash the primary challengers.


67 posted on 01/11/2012 9:27:43 AM PST by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
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To: Qbert

+1


68 posted on 01/11/2012 9:28:39 AM PST by Vendome (Don't take life so seriously, you won't live through it anyway)
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To: Tennessee Nana

+1


69 posted on 01/11/2012 9:29:18 AM PST by Vendome (Don't take life so seriously, you won't live through it anyway)
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To: usconservative
""""My Lord, who in the bloody hell is advising Romney to say such stupid things?!""""

no one, you see when you are a god, you don't take advice from anyone. His egotistical lordship is above us all, doncha know?, and is entitled to whatever he wants./s.

70 posted on 01/11/2012 9:33:06 AM PST by annieokie
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To: Qbert; All
This is just wrong on so many levels.

Yes....

I went on a screed on the tail end of the bailouts about what was so wrong with them, and that was the destruction of contract law going all the way back to maybe even the Magna Carta.

A non bankruptcy / bankruptcy, with no disillusion of long term liabilities, the transfer of capital from bond holders to the UAW etc without a fight etc was a very dangerous precedent IMHO, and at the heart and soul of Obama's lawlessness since then.

Obviously Mitt believes in this Corporate Fascism too?

If so, He really just screwed the pooch here IMHO...

71 posted on 01/11/2012 9:34:30 AM PST by taildragger (( Palin / Mulally 2012 ))
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To: WOBBLY BOB

vote for me because I’m more photogenic than the other guy.


72 posted on 01/11/2012 9:35:03 AM PST by vbmoneyspender
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To: 1010RD

“normal breed of capitalism” is building a business up as opposed to tearing one down.

Romney’s breed is vulture capitalism. It has it’s place, but is far less valuable experience for a President, than if he had grown a business. It might be valuable if he intended to dismantle parts of government. But Romney? Mr Romneycare? Ha, don’t make me laugh.


73 posted on 01/11/2012 9:36:04 AM PST by DannyTN
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To: DannyTN

Rush just said Romney via this comment has accepted the premise of the attacks from Newt and Perry.


74 posted on 01/11/2012 9:40:16 AM PST by GOPyouth ("We're buying shrimp, guys. Come on." - Dear Leader)
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To: TexasFreeper2009

Slick, do some reading ON YOUR OWN about GST. Don’t read left-wing sources for facts.

You: then stuck the US taxpayer with a $44 million bailout of the employees pension plan.

Seriously? The pension plan was backed by PBGC. Have you even heard of it? It does NOT use general tax revenue to re-fund pension plans. Zero. Zip. Nada. Your statement is absolutely FALSE.

C’mon, do some homework.


75 posted on 01/11/2012 9:40:29 AM PST by magritte
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To: caww
WORTH A REPOST, gosh you good at reading our minds and stating it exactly.

""""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 phony!

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”.""""

I think he sees himself as a Kennedy, and with his brood of family he will have his Camelot. It's his turn, and that HAS to be stopped. He may even try to purchase Hyannis Port.

76 posted on 01/11/2012 9:41:20 AM PST by annieokie
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To: Qbert

77 posted on 01/11/2012 9:41:20 AM PST by Diogenesis ("Freedom is never more than one generation away from extinction. " Pres. Ronald Reagan)
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To: Qbert

LMAO...... Obama and his tribe have got to be absolutely orgasmic over this!!

This is great news to read over my first cup this morning.

Romney just accepted the premiss of what Newt and Perry have been saying about him. LOL

GO NEWT GO.......


78 posted on 01/11/2012 9:43:06 AM PST by Gator113 (~Just livin' life, my way~..... GO NEWT GO.....!)
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To: dfwgator

lol


79 posted on 01/11/2012 9:43:27 AM PST by annieokie
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To: GonzoGOP

Fine, EXCEPT: 2 or 3 more Obama supreme court nominations, and the country is lost for decades. You can’t afford not to vote for the Republican candidate, no matter which one of the 6 wins.


80 posted on 01/11/2012 9:48:02 AM PST by guitarist
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To: magritte
I did do my homework

http://nlpc.org/stories/2010/08/27/casey-pomeroy-bill-would-bail-out-pbgc-union-pensions

The PBGC is almost bankrupt... and guess who will bail them out? the US taxpayer! and why are they almost bankrupt? because of the actions of corporate raider like Mitt Romney that go in bankrupt companies line their pockets with the profit then stick PBGC with the bill ... that will eventually be bailed out by US taxpayers since... like Fannie and Freedie it's too big to fail.

81 posted on 01/11/2012 9:48:18 AM PST by TexasFreeper2009 (Go Newt!)
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To: Gator113
"""""Romney just accepted the premiss of what Newt and Perry have been saying about him."""" LOL

PRICELESS. Free advertising, love it. You just know NEWT will have a field day with this, GOOOOOOOOONEWT.

ByeByeMitty.

82 posted on 01/11/2012 9:50:23 AM PST by annieokie
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To: annieokie

Heh. Newt the genius doing just what it takes to expose Mitt’s soft, wobbly underbelly.

I’m tellin’ ya, Newt will get the job done.

Go NEWT!!!!!!!!!!!!!


83 posted on 01/11/2012 9:52:53 AM PST by LibsRJerks
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To: TexasFreeper2009

YOU: The PBGC is almost bankrupt.

Jeez Louise. You just said that GST Pension fund was bailed out by taxpayers, which is a total LIE. Now you move the goalpost?

“Corporate raider?” That’s OWS 101.

Pitiful.


84 posted on 01/11/2012 9:53:54 AM PST by magritte
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To: TexasFreeper2009
where's that pic of Mitt and his cronies stuffing money in their pockets, like they were at some male strip club.

Well, I guess they were into Strip mining!!!

85 posted on 01/11/2012 9:55:00 AM PST by annieokie
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To: Qbert

Rush is going off on this now.


86 posted on 01/11/2012 9:56:08 AM PST by Boardwalk
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To: Qbert

Lol, just wow.

So, where are all our usual defenders of Mitt’s so-called ‘capitalist’ credentials? Anyone still want to defend this guy as a paragon of free-enterprise?


87 posted on 01/11/2012 9:56:50 AM PST by Utmost Certainty (Our Enemy, the State | Gingrich 2012)
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To: LibsRJerks
""""Heh. Newt the genius doing just what it takes to expose Mitt’s soft, wobbly underbelly.""""

I’m tellin’ ya, Newt will get the job done.""""

OH my, you are so right, I see it now. What a set up, love it. Newt is a genius. ROFL in glee.

3 CHEERS for NEWT.

88 posted on 01/11/2012 9:59:11 AM PST by annieokie
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To: LibsRJerks
""""Heh. Newt the genius doing just what it takes to expose Mitt’s soft, wobbly underbelly"""

As a P.S. to my other post: Kinda makes you wonder what Newt has to show us next, Drip,Drip,Drip.. lol, can't wait.

89 posted on 01/11/2012 10:02:05 AM PST by annieokie
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To: LibsRJerks
""""Heh. Newt the genius doing just what it takes to expose Mitt’s soft, wobbly underbelly"""

As a P.S. to my other post: Kinda makes you wonder what Newt has to show us next, Drip,Drip,Drip.. lol, can't wait.

90 posted on 01/11/2012 10:02:07 AM PST by annieokie
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To: pepsi_junkie

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

Yep.

I would add that it's even worse than there being no difference between them on the key positions, because once one starts down the road to pandering, the Dems will always win. Whatever a weak Republican offers will always pale in comparison to the "goodies" that the Dems will perpetually promise (with other people's money, of course).

You draw key distinctions, and you go on the offensive- or else, you lose.

91 posted on 01/11/2012 10:12:19 AM PST by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: magritte

the only thing that is pitiful is your support of a liberal like Romney and the actions of anyone who bankrupts companies, lines their pockets with the profits, and then sticks a taxpayer backed entity with the bill.


92 posted on 01/11/2012 10:14:16 AM PST by TexasFreeper2009 (Go Newt!)
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To: DannyTN

What is ‘vulture capitalism’ and how is it different from ‘capitalism’?


93 posted on 01/11/2012 10:17:19 AM PST by 1010RD (First, Do No Harm)
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To: 1010RD

[What is ‘vulture capitalism’ and how is it different from ‘capitalism’?]

Venture capitalists grow businsses by investing their own money and usually some mentoring as well. They can be brutal, but their goal is to create a bigger business.
A vulture capitalist in contrast will buy into a company that has some book value, force out shareholders, fire people and then grab easy money, like by selling land assets or machinery. Now sometimes, you need a vulture because all there is left of a company is pretty much bones to pick over. But it sounds like Bain made huge profits by just stripping companies. It would be sort of like eating an antelope before it was fully dead.


94 posted on 01/11/2012 10:28:52 AM PST by DaxtonBrown (http://www.futurnamics.com/reid.php)
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To: TexasFreeper2009

Lol !! I figured when you’re idiotic arguments fell through you’d resort to the “you support Romney” meme. I support Perry, and he’s been an idiot on this topic as well.

BTW, you got the OWS talking points down straight !

OWS Keyword search:

“lines their pockets”
“Corporate raiders”
“sticks a taxpayer-backed entity with the bill” ie LIE

Nicely done ! You are the 99%!!


95 posted on 01/11/2012 10:29:42 AM PST by magritte
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To: Qbert

First it was the $10.000 bet...then I like to fire people...now this...what is he Biden???? Willard doesn’t think before he talks..he is so into himself that he just blabs away... what a dork...


96 posted on 01/11/2012 10:30:16 AM PST by angelcindy ("If you follow the crowd ,you get no further than the crowd!")
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To: magritte

You obviously support the auto bailouts, I don’t

You obviously support the bailout of freedie and frannie, I dont

I don’t support the privatization of profit and the socialization of loss, you obviously do.

Romney himself compared what he did at Bane Capital with the Obama auto bailouts today. Thus if you support what he did at bane you support what Obama did with the auto bailouts.


97 posted on 01/11/2012 10:34:46 AM PST by TexasFreeper2009 (Go Newt!)
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To: TexasFreeper2009

Lol...it’s been fun, but I really need to move on to someone with some smarts instead of talking points...

Never forget! You are the 99% !! lol !


98 posted on 01/11/2012 10:37:31 AM PST by magritte
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To: guitarist
Fine, EXCEPT: 2 or 3 more Obama supreme court nominations, and the country is lost for decades.

That argument doesn't hold up with Romney. Have you looked at the judges Romney put on the bench in Mass? Look here Romney's Judiciary. He appointed liberal judicial activists. No different than Obama, and in some cases even more radical. The only hope if either gets in is a strong GOP senate that simply refuses to approve any judicial activists. Romney is useless on the Judge issue, except in that he gives cover to the Progressives.
99 posted on 01/11/2012 10:48:06 AM PST by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: Qbert

Willard supported TARP while Gingrich and Santorum did not.


100 posted on 01/11/2012 10:48:21 AM PST by Leep
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