**UPDATED**
Would we be any worse off with Stephen Colbert as president? I doubt it.
Politifact has watched the video “(repeatedly!)” and has a moment to moment tick tock rundown. They’ll get to analyzing it later. John Hinderaker takes out after Rick Perry, Think Progress and others. [update]…and now Glen Kessler has bestowed on “King of Bain” the dreaded 4 Pinocchios. The CNN Money article below dissects “When Romney Came to Town.”
To be clear, none of this is to suggest that Romney and Bain didn’t make some very real mistakes, or that they shouldn’t be criticized for situations in which they profited from financial engineering rather than from company growth. But the Winning Our Future PAC goes beyond that, intentionally obscuring the record in a way that makes such honest discussions more difficult. And for that, Winning Our Future deserves some scorn of its own. – CNN Money
What it doesn’t say is that even though the film casts Mitt Romney as the evil capitalist Ken doll, let’s not pretend this guy is standing alone in these practices. If we come out of this believing Romney’s the only bad guy, while Democrats smack their chops with glee that they now have him right where they want him, America deserves to go keep fumbling along financially, because long-term, slow pain with no solutions may be the only thing that will one day wake people up.
It’s a mistake to see the 28-minute video above and think this is just about Mitt Romney. He rightly earns the role of diabolical villain in the video, but what he represents is why Occupy Wall Street rose up in the first place. Romney’s a master at playing the Wall Street system, which even the film above stipulates is facilitated by investment bankers who helped Mitt Romney and others like him work the current system that collapsed in 2008, caused the current unemployment rate, but also the hollowing out of the American middle class that started a long time ago.
There’s a reason Rudy Giuliana went off on Newt Gingrich and it’s because this video exposes the entire American financial wagon train that is the foundational tenet of the Republican Party. It also strips bare the primal scream of Rush Limbaugh and his right-wing rabble who lie to Americans every day saying they, too, have a chance to be Mitt Romney.
It would be laughable if it wasn’t so dangerous, because some people are so desperate today they’ll buy anything if it has even half a chance of getting them out of the financial hole they’re in. Rush Limbaugh is actually just as guilty as Mitt Romney.
It’s all lies and our entire political system is bankrolled by it, with the person who can best hawk the marketing of the American Corporation picked and put in charge. However, it’s not this person, the president, who actually is in charge of anything. It’s the wise men of Wall Street (women are never let near the controls for long) who hold the power and they’re tucked inside and rarely seen.
The Mitt Romneys in our business and investment class can no longer be bothered with creating, building or envisioning anything any longer. It’s been this way since the ’80s and before. That people are suddenly shocked and shrieking that the middle class is losing it’s core, seen through the job loss and devastation in this video shows how lost we are, how morally bankrupt our society has become. There’s a whole other class below the middle class that’s been growing for years, including under Pres. Obama, who he hasn’t addressed once, except to announce he’s pulling their heating oil subsidies. The poor now has company, but don’t think anyone, least of all the Mitt Romneys, intend to do anything about it.
Mitt Romney didn’t begin the gutting of our manufacturing sector or the gambling with investors money. If he wasn’t running for president we wouldn’t be having this conversation and had he not gone after Newt Gingrich none of this would have surfaced until Obama reelect got him as an opponent and started unloading and unpacking Mitt Romney’s very successful business career, which even an Obama adviser, Steve Rattner, said this week was exemplary.
“Fair is fair. … But I think these attacks are unfair. I think Mitt Romney, not only had a very successful career throughout business, but Bain Capital is a terrific, first class firm. Managing money mostly for foundations, for endowments, for pension funds on behalf of exactly the people Rick Perry thinks he’s trying to harm, and they had a great record with 80 or 90 investments, all of which made a lot of money for their investors… and he did it in a perfectly honorably, appropriate way. … – Steve Rattner, on “Morning Joe”
Mr. Rattner was Pres. Obama Administration’s Car Czar and Counselor to the Secretary of the Treasury, and is a good Democrat. Are you seeing it clearly yet?
Can Mitt Romney survive this video and the 30-second spots that come from it? The states coming up in the primaries have been hard hit by a bad economy. However, Romney’s bankrolled to the teeth and the pressure’s on to quiet things down, so I’m guessing he can. The other side of this pile on is that at some point people are going to look at it and ask “Is Mitt Romney really the cause of all that ails us?”
What do people think will happen if a different Republican is nominated or if Pres. Obama stays in office? What huge difference will it make?
The caterwauling over Mitt Romney tapping the core of American capitalism for his own benefit is rooted in partisanship and doesn’t address the wider reality, which is that there are hundreds of Mitt Romneys in this country, many of whom got the Bush tax cut extensions, which Pres. Obama gladly gave and never really mounted a nationwide fight against. If you truly understand the calamity facing our middle class there is no way morally or in good conscience you could possibly back down from this fight, turning it into a war if you have to. Yes, a class war, but when Democrats hail compromise and gut Dodd-Frank or go along to keep things moving how innocent are they for watching what’s developed under their own backers and bundlers?
Using Steve Rattner’s defense of Mr. Romney and Bain Capital as an example, what are Democratic venture capitalists and heads of holding companies and investment bankers supposed to do in the shadow of this damning video that reveals the sausage making that is our economic system? As Rattner reveals, Democrats in his class can feel his pain and you can bet they’re just glad it’s Romney and not them.
That Wall Street Democrats are fleeing Obama’s side because of hurt feelings and would certainly find common cause in the onslaught that would be unleashed on Mitt Romney if he’s the nominee, who is one of their own, is another interesting tidbit of this tale. Sympathy vote, anyone? More likely, they’ll send cash.
If Occupy stays relevant, the entire American Corporation class will have to go underground, because Mitt Romney may be the star of the film, but they’re mirror images of this man and his methods and we’ve heard a lot about who’s been hurt lately, but now it’s in a film reel.
But where are the African Americans, Latinos and people of color? Evidently, they don’t get touched by the American Corporation class, besides, it’s white working class Mitt Romney will need to beat Obama, so let’s stay focused, people.
The whole event is obscene and the rot of our political class exposed.
What’s ironic is that this devastating video and the launch of it into the Republican primary season was made possible by conservative David Bossie, the president of the pro-Gingrich Super PAC. Bossie is the man who produced “The Hillary Movie” that culminated in the Supreme Court decision on Citizens United and the current flood of money we’re now seeing drown our democracy and put Mitt Romney and the entire Republican Party on DEFCON 1. Karma’s a bitch and she’s got one hell of a sense of humor.
That Obama reelect will trumpet the video and all of its parts in the general election season, freaking out their own Democratic version of the Mitt Romney class, is wrought with irony.
What we need is a different kind of conservation about the country we are going to be in the 21st century and that’s not coming from any direction or either political party. The only thing that matters to the partisans is putting their sock puppet in power, while the money men just keep on funneling the system to the top.
It no longer matters who ends up in the White House and Congress anymore, because the Mitt Romneys of this country are the ones really in charge and they won’t allow anyone else in, buying politicians and the presidency.
We the people are simply being held hostages by a monetary and political system that is out of control and which can’t be fixed, because the concentrated power is locked down and loaded for anyone who tries.
Hmmm…I actually like this blog post it hits both Mitt Romney and Obama equally. You are correct about both parties being corrupt. I figured this out years ago and left the Dem party because of it. Now, I don’t support either party. The thing that most upsets me about Obama is his adopting very bad GOP economic advice. He is suppose to be a democrat, right?
Mitt Romney is well boring and not trust worthy. But people have become desperate looking for a hero to fix all America problems. So, Romney fits the bill for those seeking the next Presidential Idol this year. It will be interesting to see Obama and Romney battle it out in the general. Romney is pulling for a huge gain from disgruntled White voters in rural America and Obama is trying to maintain votes among minorities and college kids.
This is an illuminating post to be sure but don’t fool yourself; Obama took plenty of Wall Street cash in 2008 and Steve Rattner knows this. The question for 2012 is how will Obama replace his Wall Street funding sources and how much of that money will be used this time to actively defeat his reelection bid. I predict that in the general election Obama will continue to run against congress and pull his punches when attacking Mitt. Otherwise, some Super PAC funded video about Obama could rehash the policies and programs of Tim Geithner and Larry Summers benefiting Goldman Sachs, other banks (old news) and the lack of criminal prosecutions, with a special appearance of the BP oil spill and the administration’s weak response. This documentary could also come from Ron Paul if he decides to rum as a third party candidate.
No one’s fooled about anything. I’ve written about it many times before.
More exposures hopefully result in more people refusing to play the Two Party game.
i previously said, if there’s better political commentary/analyses out there i haven’t found it. this post certainly confirms that comment.
thoreau, that’s very much appreciated.
ps – Please share on Facebook, Twitter, etc. any post that resonates. It really makes a difference. Thanks.
I totally agree with thoreau. Another outstanding post. This part especially nails it:
Democrats are a part of the problem. If I were to write an editorial on Obama thus far, I would title it, “Diary of a Wimpy President.”
It seems after sleepwalking through the first 3 years of his first term, it is finally dawning on him that many folks who bought his hopey-changey thing hook line and sinker feel let down. I never bought it and didn’t vote for him. Anybody who goes to a party in San Francisco with a bunch of millionaires and characterizes working middle class Americans as being bitter and clinging to their guns and Gods, hasn’t a clue and is not on our side. Perhaps he isn’t a “vulture capitalist” but, he hasn’t done anything to protect the middle class and poor from the vultures who have been and continue to swoop down and have us for lunch.
So President Obama has done nothing yet to win my vote for 2012. Neither has Romney. I watched his celebratory speech in New Hampshire to try to get a sense of the man and frankly, something about him made me want to hurl.I don’t have quite as bad of a reaction to Obama, but please do not interpret the fact that he doesn’t make me want to hurl like Romney does as any sort of endorsement.
Decision 2012: Mr. Ice or Mr. Cool …there is chill in the air that is blowing across the country. Both make me want to put my voter registration card in the freezer and thaw it out in about 8 years.Neither one of them will get a dime in contributions from me because they don’t need it and flushing the $$ down the toilet is an equally useless action as far as one of them helping to improve my life and the lives of my fellow vulture snacks.
The last donation I made for the Democrats was for Hillary in 2008. It was the last. Period. I’m done with them until they show some spine and stand up for the 99%.
A very public open discussion about capitalism; the good and bad about capitalism would be beneficial. However, talking about capitalism via politics, will still tend to benefit the Republicans more than the Democrats. Less hypocrisy on the Republican side.
Its simply something unseen in american politics in 100 yrs say historians- this conversation about capitalsim- “vulture capitalism” etc.. in a gop primary we are talking about how ugly the system has become etc.. and mitt made a huge mistake in touting bain as a great job maker- bain aint there to make jobs but grow their capital and make money. period.
Capitalism in it purest form is simply a way to make money/profit. To say capitalism is a way to make jobs or create jobs is kind of not right. Bluntly put (with capitalism) in it purest form) the creation of jobs is just a side-effect or a off-shoot on the path to making money.
Also continue taylor’s conversation with the one held in DC yesterday with tavis smiley, susie orman, michael moore, and many others on poverty, leadership, race, Obama, OWS and saving this nation from oligarchy, Im so glad I watched this and you will too bc it gives you some hope- the 536 in DC wont lead but we must like we had to before for suffarage, civil rts and more. We have to!
http://www.c-span.org/Events/Tavis-Smiley-Hosts-Symposium-on-Poverty-in-America/10737427045/
I watched it on television yesterday and I thought the panel discussion was great – very worth watching. I think Tavis Smiley is one smart cookie and I admire him for holding these discussions on poverty. Poverty in this country is growing, affects so many things in people’s lives, and doesn’t get the media attention it deserves, IMO.
Oh, I so saw this coming… Glenn Kessler has now awarded “King of Bain” the dreaded 4 Pinocchios.
Newt Gingrich & his PAC has been a gift to Romney. It’s all going to be churned out on Bain long before the fall.
Great video and really great analysis Taylor.
This video really shows clearly why and how, since the early 1980′s, the disparity of income in our country has occurred. It puts face to that slow moving, giant vacuuming of resources and income from the working people and middle class in our country up to the 1%.
The manufacturing and local retail jobs have all been scavanged. The current targets are publicly funded education (teachers and local schools). The Wall ST firms are itching to get their hands on the tax money we pay to educate our children. They want to replace teachers with service level workers paid $10 an hour to babysit “classrooms” where 30, 40 or 50 children all sit and study online classes.
Blog article about this: http://www.nytimes.com/2011/12/03/opinion/virtually-educated.html
Investigative article about this: http://www.nytimes.com/2011/12/13/education/online-schools-score-better-on-wall-street-than-in-classrooms.html
Then, of course, there are the usual ways Wall St. wants to tap into our taxes. In addition to for-profit prisons, for-profit food companies running school lunches subsidized by our taxes, etc.
The golden ring for them is to privatize social security so they can get their hands on even more of our savings.
I hope this movie is seen by millions, especially those who believe the 1% EARNED their money and deserve to keep it and not pay any higher taxes.
I agree with you, Alice P. I have a teacher friend who recently retired because as a veteran teacher (who is more expensive than a new hire) she was told she didn’t fit the “profile” of a staff member that her high school wanted as they were reorganizing under the mandate of NCLB. Under that mandate, the school must change at least 20% of its staff if the school is persistently low performing. This is a teacher who had an 88% passing rate on the state U.S. History exam in an inner city high school, had very good classroom management, and who was well liked by the students. She had been in her building for a number of years but was transferred to a middle school, having to learn/teach a whole new curriculum and was given a baggie full of supplies for the year consisting of a few markers, pencils, and pens. As her district is trying to find ways to trim the budget, the more expensive veteran teachers are being targeted and pushed into retirement by giving them the more challenging assignments (which they’ve already had in the past ). Mind you, her high school kept some teachers who only had a 33% pass rate but were less expensive to keep on payroll. Thank goodness she had enough years in and the age to retire but instead of being celebrated she was basically pushed out. That is what is starting to happen in cash strapped districts around the country and it is not right. It’s all about dollars and cents and nothing else. Wall Street is just waiting to take advantage of all the tax dollars at stake. And the group Democrats for Educational Reform are in on this, too – not just Republicans. I agree with President Obama on a number of things but Race to the Top isn’t one of them. I think it’s being pushed down states’ throats in too rapid a manner with little or no thought being given to the consequences. It’s very sad, IMO. I’m all for change that is well researched and implemented correctly but this is not it.
The only practical difference I see between Bain and Goldman Sachs is that the latter looted entire countries for profit, while the former confined itself to medium- and large-sized businesses. With all the current and former GS folks Obama has surrounded himself with, he should be very careful casting stones.
Amen to that!
Also, I wish that more Americans would realize that the big multi-national companies do the same thing and worse and that the money they are making is ONLY for the 1%. People think that companies like HP, Standard Oil, Bank America and so forth are US companies, but they really no longer are. Do some research and you will find that a majority of their business (and ownership) is foreign. And probably a majority of their employees as well.
I would like it if Taylor or someone else here would explain to me exactly how going third party would get us single payer universal healthcare and economic justice. Let’s assume for this argument that Taylor is right that both major political party’s are hopelessly corrupt and can’t be fixed. Describe to me a scenario where peeling off progressive votes from the Democratic Party gets progressives what they want and doesn’t just end up handing every election for the foreseeable future to the GOP! Crunch the numbers for me!
This is where you and so many others don’t understand, solo.
This is about a system overhaul far larger than partisan elections.
I’ve obviously been thinking about this for a very long time and have come down to the conclusion that what we have is one massive political system with Democratic and Republican branches. This system has finally failed us completely and totally. Congress, in fact, is no longer functioning, because they’re no longer independent of party or the Executive branch, with our judicial system a partisan catastrophe.
People have a choice, whether they’re brave enough to exercise it is another matter and totally up to each person; all I hear about is there is no choice and they’re “trapped,” which is just silly and part of the conditioning of the 20th century two-party politics.
I’m challenging everyone to at least think about his or her vote and challenge that ingrained thinking, then decide how they want to participate. If the American electorate isn’t courageous enough to demand an overhaul, which will take a decade and more, and reject D vs. R, then we will continue on the hamster wheel of mediocrity.
It’s truly immaterial to me who wins in November. It’s not catastrophic if Pres. Obama wins reelection, nor is it the end of democracy as we know it if Republicans win, though partisans paint both outcomes equally dire.
What matters is that there is a shift, however small, in how Americans exercise their right to vote. People have to quit voting for individuals who do not represent their interests and if they choose a Green Party or Justice Party or skip the presidency or write in or vote Americans Elect (if they can find a candidate), then vote for progressives or Tea Party or conservatives down ballot, and protest the current choices for president, it is out of conviction not out of a bogus belief that they’re trapped, which I get in emails & on Twitter continually.
Partisans don’t believe this, but the country won’t fall apart if their side doesn’t win. We lived through horrific times much worse than the choice of Obama vs. Romney. America is not made of feathers.
All this being true, we will never shift to a different political reality unless people take the leap away from a political system that has 2 branches, both of which are bankrolled by, represented by and have the purpose of keeping their own salaried and the institutions behind them employed.
Amen, Taylor!
What Taylor said and also:
In the scenario you describe, where both parties are hopelessly corrupt and can’t be fixed, how does a vote for either not perpetuate the problem? In good cop/bad cop, they’re both still cops.