The adviser added: “We aren’t reacting to what the Obama campaign does. … We aren’t reacting to what Republican strategists do. We’ve got a plan to win. We know what it takes and that’s what we’re going to do. All of this hew and cry, you know, from the bedwetters who get to sit on the sidelines, aren’t going to affect what we’re going to do and our plan.” – Bain barrage worries Republicans
STEPHANIE CUTTER LANDED a lethal blow on Thursday when she unloaded the accusation that Mitt Romney was either misrepresenting his involvement with Bain Capital, which amounted to a felony if true, and it has changed the current state of Romney’s presidency. It was an unflinching assault that brought a loud whine from Team Romney, with Matt Rhoades declaring Pres. Obama “ought to apologize for the out-of-control behavior of his staff.”
Yeah, you’ve got to watch those women, we can fly off the handle at any moment.
The problem for Republicans is that Mitt Romney gave Team Obama the opening, which is all you need if you’re part of a campaign that’s prepared and has talent ready for the moment. Ms. Cutter delivered perfectly on the one issue that is most deadly to Obama’s reelection hopes. If the Obama campaign can in any way dismantle Romney’s economic case for his presidency, beginning with his credibility and very veracity, Team Obama can mortally wound his candidacy.
It’s no accident that the blow came from Ms. Cutter, who is a veteran of the swiftboating wars during John Kerry’s run for the presidency. She and everyone else who knows anything about these types of political battles, which I do, have got to be elated at Team Romney’s rote, flat-footed response.
“President Obama’s campaign hit a new low today when one of its senior advisers made a reckless and unsubstantiated charge to reporters about Mitt Romney that was so over the top that it calls into question the integrity of their entire campaign,” Rhoades said. “President Obama ought to apologize for the out-of-control behavior of his staff, which demeans the office he holds. Campaigns are supposed to be hard fought, but statements like those made by Stephanie Cutter belittle the process and the candidate on whose behalf she works.” – Fox News Insider
The only thing that gave me more pleasure was watching former governor John Sununu with Sean Hannity spew the words Tony Rezko, Rod Blagojevich and “Chicago politics,” because he couldn’t mount a defense for what came at the Romney campaign all day, as the big-mouthed Sununu was reduced to spittle and blabbering insults.
To top it off, while watching CNN or MSNBC here in the Beltway battleground state of Virginia, attack ads from Rove, the Koch Bros. and every other group played in between segments of continual unraveling of Mitt Romney’s business image. It was surreal.
There’s something very wrong here and it begins with Republicans and Romney’s campaign evidently blindsided by the Bain departure discrepancy. They were caught completely flatfooted and if they stay on their pre-planned course they’ll fall to the withering attacks. Mitt Romney, after getting through the brutal primary, never expected the details of his Bain departure to be an issue, let alone that SEC documents that prove he’s told dueling tales of his Olympic departure. It’s doubly problematic for a man who claims to be ready to run the biggest corporation in the world, the United States of America.
The justification for Mitt Romney’s entire presidential campaign is being dismantled before his campaign can get a grip on what’s happening. Mr. Ice is melting.
Romney doesn’t get to say he’s the man to bring American back to economic health if he can’t even offer a straight account for his own Bain tutelage at a time when he still held all the marbles of the company. From Huffington Post:
Bain described Romney in 2001 SEC filings as the “sole stockholder, chairman of the board, chief executive officer, and president.” Another form stated that he owned 100 percent of the company in 2002 and received a six-figure salary from Bain in 2001 and 2002. His listed title: “Executive.”
[...] Romney’s lawyer at the Massachusetts hearing said that Romney’s work in the private sector continued “unabated” while he ran the Olympics: “He succeeded in that three-year period in restoring confidence in the Olympic Games, closing that disastrous deficit and staging one of the most successful Olympic Games ever to occur on U.S. soil. Now while all that was going on, very much in the public eye, what happened to his private and public ties to the Commonwealth of Massachusetts? And the answer is they continued unabated just as they had.”
The Romney campaign is now in a potentially dangerous defensive crouch, because another hit on outsourcing came on Thursday through David Corn, revealing Romney was involved in what had become business as usual in the U.S., which revolved around corporate trade deals that drained what was left of the U.S. manufacturing market out of the country. The lip service Romney pays to jobs and holding China accountable is now shredded.
On April 17, 1998, Brookside Capital Partners Fund, a Bain Capital affiliate, filed a report with the Securities and Exchange Commission noting that it had acquired 6.13 percent of Hong Kong-based Global-Tech Appliances, which manufactured household appliances in a production facility in the industrial city of Dongguan, China. That August, according to another SEC filing , Brookside upped its interest in Global-Tech to 10.3 percent. Both SEC filings identified Romney as the person in control of this investment: “Mr. W. Mitt Romney is the sole shareholder, sole director, President and Chief Executive Officer of Brookside Inc. and thus is the controlling person of Brookside Inc.” Each of these documents was signed by Domenic Ferrante, a managing director of Brookside and Bain.
Outsourcing and the free trade fetish had become business as usual in the ’90s, but started long before. There are arguments made by business writers and economists that it’s normal. We saw that mentality play out on Thursday when America found out our Olympic team would be wearing opening ceremony costumes made in China. It’s a perfect metaphor for where we stand today, but also why the American public is so disgusted with their choices of leader, neither of whom are half the man Henry Ford was when his strategy was to pay his workers a wage so they could buy the cars they were making, a point that James Carville makes often. At least Pres. Obama put skin in the game to save the car industry, a symbol of America’s manufacturing might at one time in our history.
Unfortunately for Mitt Romney, we live in an era of Occupy – post Bush economic collapse, where every single middle class family has watched their wealth disappear over the last 3 decades, with absolutely no one looking out for them. So when you combine all this information on Mitt Romney together, then put it up against Pres. Obama, taking a risk on this guy who ran Bain, outsourced, and now seems to have a problem with telling the truth, what you’ve got is a risky bet.
There’s no excuse for the Romney campaign’s spastic response to the barrage coming at them from Team Obama, except that they underestimated Pres. Obama and his team, a fatal error. The evidence of his campaigning skills have been chronicled, with Plouffe and Axelrod, along with Messina, veterans of big political brawls and more than ready for the likes of Mitt Romney, especially if their opponent hasn’t already prepared for obvious attacks on his main reasoning for wanting Obama’s job.
It’s summer and a lot of people haven’t been tuning in, but the mega wattage of the sparks flying over these latest allegations about Romney and Bain will get more people’s attention. It’s a long way until November, but the Obama campaign and their allies used the moment wisely and have skillfully commanded the story line that cuts across Mitt Romney’s only asset.
In fact, Romney’s been hit so bad that they even floated to Drudge that Condoleezza Rice was on the short list for vice president. It means Romney is now in a do or die position like John McCain was when he chose Sarah Palin. He’s been hit hard and needs a game-changer. A female and an African American to stand next to Mitt Romney? Romney proved during his NAACP speech that he’s capable of surprising, so who knows?
Going into the weekend Mitt Romney’s now on defense, a losing position in politics, with one card to play. Fortune magazine reported documents that support Romney’s claim of events, but you’ve got to get into the weeds to understand it.
Bain Capital began circulating offering documents for its seventh private equity fund in June 2000. Those documents include several pages specifying fund management. The section begins:
Set forth below is information regarding the background of the senior private equity investment professionals of Bain Capital. Also listed are certain investment professionals responsible for the day-to-day affairs of the Brookside and Sankaty funds, which are affiliated funds of Fund VII.
It then goes on to list 18 managers of the private equity fund. Mitt Romney is not among them. Same goes for an affiliated co-investment fund, whose private placement memorandum is dated September 2000.
The problem is that Mitt Romney remained “sole stockholder, chairman of the board, chief executive officer, and president… Another form stated that he owned 100 percent of the company in 2002 and received a six-figure salary from Bain in 2001 and 2002.”
That’s enough ammunition for the Obama campaign to keep on pounding away. If you’re explaining, you’re losing, though that doesn’t mean it’s over. It does mean the story has legs and the Obama campaign is going to keep chasing it.