“I would not have backed off the comments if I were Mayor Booker,” Ford, a Democrat, said on MSNBC’s “Morning Joe.” “The substance of his comments on ‘Meet the Press,’ I agree with the core of it. I would not have backed them out… private equity’s not a bad thing. As a matter of fact, private equity is a good thing in many, many instances.” [Politico]
TWO DEMOCRATIC BROTHERS blew away the Obama campaign’s entire economic strategy against Mitt Romney in just two days. First it was Mayor Cory Booker on Sunday, followed today by Blue Dog Democrat Harold Ford. It’s been a devastating start to the week.
Booker tried to fix things on Twitter, then with an embarrassing YouTube that I will not insult you by posting. The guy’s a mess.
I awoke this morning to a press call announcement from team Obama rolling out the video above and hitting hard on “RomneyEconomics” and his management decisions regarding Ampad, which after Booker’s “Meet the Press” performance read like damage control.
It hit its target, because Bain actually responded:
Throughout Bain Capital’s 28-year history, we have been focused on growing businesses and improving their operations. We acquired Ampad from Mead Corp. in 1992, and grew the overall business during the four years we controlled the company. The Marion plant was a challenging situation in a business that was performing well overall, growing revenues and adding jobs. Our control of Ampad ended in 1996, fully four years before it encountered financial difficulties due to overwhelming pressure from ‘big box”’ retailers, declines in paper demand, and intense foreign price pressures. Despite political attacks that emphasize the few companies that have struggled, the facts are that during Bain Capital’s ownership, revenues grew in 80 percent of the more than 350 companies in which we have invested.
Mitt Romney’s now got a ready made ad, using Democratic voices, African Americans no less, to bolster that Bain’s not bad. He can even throw in Steve Rattner for color.
Well done, Democrats.
You’ve turned from being known as hep civil rights advocates and hell fire and brimstone social and economic justice advocates to squishy, nouveau riche, Wall Street, grand bargain Blue Dog conservatives bent on compromise with yourselves.