Politico highlights the Obama team’s memo hitting Mitt Romney on Bain Capital, which was always going to be their front line offense.

What’s going to be good for the Obama team to exploit has, however, backfired badly on Newt Gingrich. After being lambasted by every Republican from McCain and Huckabee, to Rudy and Rush, as well as the single donor to his Super PAC, Newt’s backtracking.

“I am calling for the Winning Our Future Super-PAC supporting me to either edit its “King of Bain” advertisement and movie to remove its inaccuracies, or to pull it off the air and off the internet entirely,” Gingrich said in a statement. – Gingrich Repudiates Super PAC For Inaccurate Video He Praised

Is there anything funnier than a swift-boater caught with his hate campaign in shambles?

Obama’s team needs “King of Bain,” because another troubling aspect of Mitt Romney’s potential nomination for Pres. Obama is that he’s just not that scary to most people. So now “King of Bain” is about to become fodder to stoke voters’ fears. Team Obama doesn’t have much else.

It’s no secret that there is a lack of enthusiasm in Democratic and progressive circles. In a pool report the other night from Chicago, the White House made a point to emphasize the excitement at the fundraiser was real and it was big. If they can’t rouse the troops in Chi-town where can they?

So, it hardly matters to the Obama team if the pro-Gingrich PAC film “King of Bain” got 4 Pinocchios from Glenn Kessler, and that when it comes to the American Corporation, the Democrats have their own Mitt Romneys, many of whom have given gargantuan sums to Barack Obama, but also earned more in Pres. Obama’s first term than in all 8 of George W. Bush’s.

The Obama team’s goal is to make Mitt Romney a pariah. Someone who is scary in order to rev up excitement in Democratic circles so people rise up and vote. Reviews on “The King of Bain” are immaterial for this effort.

Mitt Romney is Satan.

Oh, and in case you’re wondering, Tim Geithner is Moses.