Monday, May 14, 2012

Obama Has His Ass Handed To Him

Romney is benefiting from low expectations.

Much more here.
The Obama ad has fallen apart on the facts, chiefly because Romney had left Bain Capital two years before GST’s collapse, to save the Salt Lake City Olympics. The Obama ad therefore accuses Romney of misdeeds, when there were no misdeeds, GST failed despite Bain’s intervention to save it, and Romney was tasked with saving a more high profile national effort — and in which Romney succeeded.

Even Obama’s former car czar, Steve Rattner, has blasted the Obama ad as unfair.
Rattner, nicknamed the “car czar” for his work on the auto bailout, has worked in the private equity industry himself. He told “Morning Joe” on MSNBC, “I think the ad is unfair.”

Romney should never have said anything about creating jobs while he was at Bain, Rattner added. “Bain Capital’s responsibility was not to create 100,000 jobs or some other number. It was to make profits for its investors, most of whom were pension funds, endowments, and foundations” he said.

It did it superbly well, acting within the rules, acting very responsibly, and was a leading firm. To pick out an example of somebody who lost their job, unfortunately, this is part of capitalism, this is part of life. I don’t think there’s anything Bain Capital did that they need to be embarrassed about.”


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