The 99 percent: Gingrich, Perry rip Romney for Bain work

posted at 7:30 pm on January 9, 2012 by Allahpundit

Go look at the headline at National Journal. It has, it seems, come to this.

Card-carrying Romney critic Philip Klein, who’s spent years writing posts dumping on RomneyCare, can’t believe he’s being forced to defend you-know-who:

It’s nothing short of disgraceful behavior from Newt Gingrich, Jon Huntsman and Texas Gov. Rick Perry…

Romney’s rivals are engaging in the type of Marxist rhetoric that we’re used to hearing from Occupy Wall Street protesters, promoting an imaginary view of capitalism that’s exists only in Hollywood.

In reality, capitalism is the most moral economic system ever conceived of, because it’s the only one that’s consistent with personal freedom. Investors such as Romney pump money into businesses, and often have to cut jobs in an attempt to make them more efficient and profitable. And sometimes they fail despite their best efforts. But by cutting their losses, they have more money to invest in other businesses, and hopefully the gains outweigh the losses. In Romney’s case, he was tremendously successful overall, helping to grow businesses such as Domino’s and Staples that now employ tens of thousands of workers. In the process, he produced huge returns for his investors, who in turn had more money to invest elsewhere. However tragic the displacement of some workers was, on a net basis, companies like Bain help fuel economic growth. And there’s also no reason to believe that jobs that were lost – in steel investments, for instance – would have survived anyway. None of his rivals are accusing Romney of doing anything illegal or fraudulent in his business dealings, so it’s purely an attack on capitalism. It’s sad to see them go this route.

The money quote from Gingrich: “If somebody comes in, takes all the money out of your company and then leaves you bankrupt while they go off with millions, that’s not traditional capitalism.” Is that what Bain did — took all the money out of a company and then left it to die? According to the Journal, just 22 percent of the businesses acquired by Bain during Romney’s tenure ended up filing for bankruptcy afterwards. Another eight percent failed, but failed so badly that Bain lost its entire investment. And yet, if you believe Perry, the reason any of these businesses were shut down “was so that Bain Capital could profit and he could get richer.” Question for him and Gingrich: What rate of success in turning around acquisitions would exempt a private equity firm from charges of “looting,” as Newt puts it? 90 percent? 99? A full 100?

More from Avik Roy, another RomneyCare critic, who describes this as “Romney Derangement Syndrome”:

Frequently, these turnarounds initially involve layoffs — when they work, the layoffs act as a kind of pruning that allows a tree to grow again. When the turnarounds fail, however, the layoffs don’t work, and the company goes bankrupt. More often than not, these bankruptcies would have happened anyway: In the case of Bain’s investments in the steel industry, for example, cheap steel imports from abroad made it difficult for most American firms to survive…

#page#In some cases Bain may have made mistakes in its turnaround efforts, or misjudged an original business opportunity. That’s, again, what happens in the private sector. Success is not guaranteed. On the other hand, it’s fair to say that private-equity firms such as Bain Capital were responsible for many of the productivity gains, and the retreat of sclerotic labor unions, that the American economy generated in the 1990s. Rest assured that Bain would have not generated those spectacular returns for its investors, nor attracted those investors in the first place, if the majority of its investments failed…

It’s been discouraging to read that many conservatives see Romney’s record at Bain Capital as a liability. For the truth is the opposite: Romney is a candidate uniquely suited to defending the role of free enterprise in the American economy. When liberal politicians and journalists argue that layoffs are cruel, and that capitalism is unfair, Mitt Romney can speak to how dealing frontally with a business’s problems can lead to better and more numerous jobs over the long term. He can speak not merely in abstract philosophical terms, but using the real-world examples from his successes and his failures.

Go look at the table James Pethokoukis posted tracking “creative destruction” of jobs over the 20th century. The one fair point Gingrich and Perry supporters have in defending their guys is that Romney seemed to get off awfully easy back in September when he started tearing Perry down over his Social Security rhetoric. That attack is as offensive as this one, really: At a moment when conservatives are desperate for the country to think boldly about entitlement reform, there was good ol’ Mitt hammering Perry for being too bold. Could be that the Romney critics are right and that Mitt simply gets a pass for his brass-knuckles attacks because he’s — allegedly — the most electable candidate, but I think there’s more to it. Pandering to Republicans on entitlements is semi-accepted on the right because (a) like it or not, a lot of self-described conservative voters are fans of Social Security and Medicare and (b) the GOP itself used Mediscare arguments to great effect in the 2010 midterm elections in campaigning against ObamaCare. The attacks on Romney’s “creative destruction” in the private sector are unusual for a Republican campaign, though, and sit badly after months of screeching from OWSers about “the one percent.” (The boss emeritus, in fact, describes Gingrich and Perry as having “gone Occupier.”) If the right stands for anything, it’s capitalism — even more so than entitlement reform, strong defense, or “values.” Quoth the Club for Growth, “Newt Gingrich’s attacks on Mitt Romney’s record at Bain Capital are disgusting… Because of the efforts of Bain Capital, major companies like Staples, Domino’s Pizza, and the Sports Authority now employ thousands of people and have created billions in wealth in the private economy. Attacking Governor Romney for participating in free-market capitalism is just beyond the pale for any purported ‘Reagan Conservative.’”

Fairly or not, I think Gingrich and Perry are also paying a price today because their timing stinks of desperation. If Romney’s buyout record troubled them, they should have clubbed him with it from the beginning. Turning to it in the eleventh hour, after he’s won Iowa and is on the brink of putting them on ice in New Hampshire, makes it look like something they’ve resorted to not because they believe it but because it might work. And yeah, I know — politics ain’t beanbag, but if you’re going to hit a guy hard, can you at least not betray everything you supposedly believe about free markets in doing so? If Newt really does believe what he’s saying, why did he take it back after he attacked Romney on Bain the first time? Exit quotation from Rick Santorum, when asked to criticize Romney on Bain: “I’m not making it a liability. I believe in the private sector.”

Update: Here’s the best question of all: If you want to hit Romney for what happened at Bain, why not focus on this?

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Hail. Mary.

mattshu on January 9, 2012 at 7:32 PM

Isnt this the fat pig that cheated on his wife because he loved his country so much????

Yeah, I thought so.

And Rick Perry…..doubtful he knows what private equity even means.

Jailbreak on January 9, 2012 at 7:33 PM

My question is this whole controversy is….

How will Romney connect with the middle class since he has never been a middle class? He inherited over a 100 million dollars from his fathers estate…

liberal4life on January 9, 2012 at 7:33 PM

socialist vs capitalist

hanzblinx on January 9, 2012 at 7:34 PM

Why are the NotRomneys doing the DNC’s work?

DrStock on January 9, 2012 at 7:34 PM

“Mitty Romney is Edward Lewis in the 2012 remake of…”

Jeddite on January 9, 2012 at 7:34 PM

I find myself agreeing with Noooot and Perry here, there are quite a few people who build covered-wagons who are out of work, and the covered-wagon industry was wrong to lay them off.

Bishop on January 9, 2012 at 7:35 PM

My exit question would be. If you get tens of millions of dollars in fees, but lose a couple million dollars in investment, did you really lose everything?

astonerii on January 9, 2012 at 7:35 PM

Card-carrying Romney critic Philip Klein, who’s spent years writing posts dumping on RomneyCare, can’t believe he’s being forced to defend you-know-who.

Ditto me.

Newt, I expected it. But Rick Perry?

beatcanvas on January 9, 2012 at 7:35 PM

I’m glad that Newt and Perry have revealed themselves to be a couple of detestable men who have no trouble taking a page right out of the Obama/Occupy Wall Street playbook.

Thank goodness we won’t end up with either one of them as the nominee. These attacks are going to act only to strengthen Romney, who will beat Obama.

Incompetent rodeo clown Rick Perry and pompous serial adulterer/Freddi Mac lobbyist Newt Gingrich are both losers who will be dropping out of the race soon enough. And not a moment too soon.

bluegill on January 9, 2012 at 7:35 PM

Gingrich and Perry are exposing themselves to truly be terrible campaigners.

blatantblue on January 9, 2012 at 7:35 PM

Romney is going down hard! Good job newt and rick!

davemason2k on January 9, 2012 at 7:35 PM

Newt should have stayed positive, this isn`t going down well with me.

ThePrez on January 9, 2012 at 7:35 PM

How will Romney connect with the middle class since he has never been a middle class? He inherited over a 100 million dollars from his fathers estate…

liberal4life on January 9, 2012 at 7:33 PM

He doesn’t need to “connect” with anyone.

He needs to explain to them how his plans will put more of their money in their pockets.

Nice try, though.

blatantblue on January 9, 2012 at 7:36 PM

Romney is a true definition of the 1%

liberal4life on January 9, 2012 at 7:36 PM

It is the duty of the republicans to end Romney’s campaign before Obama gets a chance to.

tom daschle concerned on January 9, 2012 at 7:36 PM

How will Romney connect with the middle class since he has never been a middle class? He inherited over a 100 million dollars from his fathers estate…

liberal4life on January 9, 2012 at 7:33 PM

Obama connected with me from his life of leisure and his Indonesian Madrassa education.

tom daschle concerned on January 9, 2012 at 7:37 PM

LOL! Four posts on the same subject here, all defending Esptablishment Boy who was endorsed by HA in ’08. Interesting.

-Aslan’s Girl

Aslans Girl on January 9, 2012 at 7:37 PM

Romney is a true definition of the 1%

liberal4life on January 9, 2012 at 7:36 PM

And you your the true definition of a loser, mooch, dumbass.

CW on January 9, 2012 at 7:37 PM

Can we please stop equating Romney’s record at Bain with capitalism itself? Bain is a ruthless crony capitalist outfit which thrived on graft, corruption, subsidies and bailouts. Why is it not fair to hit Romney and Bain on bailouts and subsisides which they sued to line up their own pockets?

Card-carrying Romney critic Philip Klein, who’s spent years writing posts dumping on RomneyCare, can’t believe he’s being forced to defend you-know-who:

The same guy’s maagazine endorsed ROmney.

promachus on January 9, 2012 at 7:38 PM

How will Romney connect with the middle class since he has never been a middle class? He inherited over a 100 million dollars from his fathers estate…
liberal4life on January 9, 2012 at 7:33 PM

Maybe Romney gets hot tips from the uber-rich Kennedy family on how to convince the middle class that you feel their pain.

Bishop on January 9, 2012 at 7:38 PM

I’m looking forward to 2watching Newt’s PAC’s film. I want to see if they make the case that Bain was venture or vulture.

Aslans Girl on January 9, 2012 at 7:38 PM

Newton Gingrich would be a terrible candidate to nominate.

He’s with Pelosi one moment, against her a couple of years later. Against Paul Ryan, then for him a week later. Against negative campaigning, then engaging in it two weeks later.

He’s so easily irritated. So easily baited. The left could knock him off of his feet in about five days.

blatantblue on January 9, 2012 at 7:38 PM

Gingrich and Perry are looking like desperate buttholes. Please, don’t make me defend Mittens.

SouthernGent on January 9, 2012 at 7:39 PM

Romney is going down hard! Good job newt and rick!

davemason2k on January 9, 2012 at 7:35 PM

Not really davey you will see.

Dimwit why do you support people who trash capitalism? Seriously. You and those like you are as dumb as they get.

CW on January 9, 2012 at 7:39 PM

Man, open registration was a real downer.

blatantblue on January 9, 2012 at 7:39 PM

Newt, Rick Perry and Jon Huntsman are forming a drum circle. Maybe Jon can chant in Chinese some workers’ propaganda songs he learned in Beijing while ambassador. They are the 99%.

Philly on January 9, 2012 at 7:39 PM

Gingrich and Perry are exposing themselves to truly be terrible campaigners.

blatantblue on January 9, 2012 at 7:35 PM

Lol. ROmney’s surrogates attack others and he unleashes a tsunami of negative ads, you are impressed with his organization. ROmney’s rivals return the favor and they are terrible camapigners.

promachus on January 9, 2012 at 7:39 PM

Its great.

Romney is making the clowns show their true colors.

I just wish the dumb gal at fox wouldve asked Rick Perry a few follow up questions. I would pay $10,000 of my own personal money, yes..I also am in private equity, to get 6 minutes to interview Rick Perry. I would expose him for not knowing the difference between what a private equity fund does and what a cow does. Stupid jackass red-neck weenie.

These guys are just hurting themselves. Romney is going tok win the nomination and these will be the crybabies that pulled out the socialist argument while they were losing.

Jailbreak on January 9, 2012 at 7:40 PM

Aslans Girl on January 9, 2012 at 7:37 PM

Defending .Capitalism.O.M.G.

Nutter

CW on January 9, 2012 at 7:40 PM

Nice to see Hot Air go full tilt %100 crony capitalist.

tetriskid on January 9, 2012 at 7:40 PM

In case you guys missed it, Wall Street and these investment bankers like Bain are hated by America. They gambled and were bailed out by us. Mitt is going down

davemason2k on January 9, 2012 at 7:40 PM

I’m looking forward to 2watching Newt’s PAC’s film. I want to see if they make the case that Bain was venture or vulture.

Aslans Girl on January 9, 2012 at 7:38 PM

I typed “to” but it showed up as “2″ ?

Aslans Girl on January 9, 2012 at 7:40 PM

He doesn’t need to “connect” with anyone.

He needs to explain to them how his plans will put more of their money in their pockets.

Nice try, though.

blatantblue on January 9, 2012 at 7:36 PM

But that is not what he will do. He will tell you he is helping you, while picking your back pocket.

What it looks like he did at the steel mill is use legal loopholes to move money out of pensions and health care trusts and turn that money into fees for Bain. It is the worst kind of business dealings, and it is not what I consider to be capitalism, which is creating value for other’s who then voluntarily pay you for your services. Maybe the value that he created for others was the stripped pensions, turning money that the owners did not have access to into money that the owners could share with Bain and Romney, then close the plant and leave the workers who earned and counted on those pensions hi and dry and the tax payers stuck with picking up the loss to the tune of 44 million dollars.

astonerii on January 9, 2012 at 7:41 PM

If you make over 30 k or so in the USA you are the 1 percent in the world.

CW on January 9, 2012 at 7:41 PM

/facepalm

in no particular order:

Cain
Bachman
Gingrich
Perry
Huntsman
Santorum
Romney
Paul
Lawn Gnome Reagan

i am starting to get desperate.

Coolidge_Conservative on January 9, 2012 at 7:41 PM

promachus on January 9, 2012 at 7:39 PM

Face it: Newt is horrible. He pledges to be the most positive campaingah evah, then he’s easily baited into this BS IMMEDIATELY after.

What sort of campaign discipline is that? He’s a joke, and he needs to leave.

blatantblue on January 9, 2012 at 7:41 PM

http://hotair.com/archives/2010/08/06/heh-romney-driving-pick-up-truck-to-fundraisers-now/

Time to un-retire the old baby. Vroom-vroom.

Marcus on January 9, 2012 at 7:41 PM

This is not a good move by Perry or any of the rest..IMHO..:)

Dire Straits on January 9, 2012 at 7:41 PM

I think venture capitalists can raid a company, sell its assets, and close down a large portion of the operations…and not file for bankruptcy or have it deemed a failed operation. So it would not necessarily be included in the 22% and 8%. Not sure we are looking at a full picture here with regards to how Bain operated. I think it totally appropriate to evaluate Bain’s/Romney’s modus operandi. Not all “capitalists” are the same!

northeastgirl on January 9, 2012 at 7:42 PM

My question is this whole controversy is….

How will Romney connect with the middle class since he has never been a middle class? He inherited over a 100 million dollars from his fathers estate…

liberal4life on January 9, 2012 at 7:33 PM


Dooshbag! You have a cracked broken record between your ears!
Who winds you up…don’t you know where the needle goes?

KOOLAID2 on January 9, 2012 at 7:42 PM

LOL! Four posts on the same subject here, all defending capitalism which was endorsed by Captains Quarters in 1847. Interesting.

-Aslan’s Girl

Aslans Girl on January 9, 2012 at 7:37 PM

Fixed to be historically accurate.

MNHawk on January 9, 2012 at 7:42 PM

After tomorrow night we won’t have to watch Gingrich the Snow Man anymore.

Newt “the great debater” is headed for a solid 4th place in NH.
Newt “the great debater” is headed for a solid 4th place in SC.

Romeny just opened up a double digit lead in Florida.

It’s the baggage, Newt, it’s the baggage.

NickDeringer on January 9, 2012 at 7:42 PM

CW on January 9, 2012 at 7:40 PM

Ah, but what kind of capitalism? Venture? Vulture?

Aslans Girl on January 9, 2012 at 7:42 PM

How will Romney connect with the middle class since he has never been a middle class? He inherited over a 100 million dollars from his fathers estate…

liberal4life on January 9, 2012 at 7:33 PM

He really shouldn’t try to do that. As demonstrated by the paycheck comment, that doesn’t work out so well. Instead, he needs to explain how his policies will help voters.

McDuck on January 9, 2012 at 7:42 PM

Lol. ROmney’s surrogates attack others and he unleashes a tsunami of negative ads, you are impressed with his organization. ROmney’s rivals return the favor and they are terrible camapigners.

promachus on January 9, 2012 at 7:39 PM

Hey, how’s your Palin write-in campaign doing? Last I checked, you said you guys did pretty well in Iowa and were moving on to New Hampshire.

Please give us a report….could always use a laugh. Although, I shouldnt laugh at suckers.

Jailbreak on January 9, 2012 at 7:42 PM

Here is an interesting scenario. Let’s just say Perry or Newt was the nominee. How is this rhetoric going to play to all us small business owners, who have had to fire employees in order to keep our businesses alive and support our families?

I live in Texas, I have voted for Perry and attended rallies for years. No more, is he is not for free enterprise and capitalism, and if the Republican Party is not for free enterprise and capitalism, I have no use for it.

These attacks on Romney only elevate his status with me as the only nominee.

mark cantu on January 9, 2012 at 7:42 PM

According to the Journal, just 22 percent of the businesses acquired by Bain during Romney’s tenure ended up filing for bankruptcy afterwards.

Oh just 22%. Phew, here I thought it was a lot. I guess when the Obama ads start rolling, just 22% won’t be that bad right? Obama will graciously point out the other 78%.

angryed on January 9, 2012 at 7:43 PM

LOL! Four posts on the same subject here, all defending Esptablishment Boy who was endorsed by HA in ’08. Interesting.

-Aslan’s Girl

Aslans Girl on January 9, 2012 at 7:37 PM

LOL! Another whining post from a worshiper of the rodeo clown/incompetent buffoon Rick Perry. Interesting. Actually, not surprising at all.

bluegill on January 9, 2012 at 7:43 PM

The criticisms are valid if Bain was involved in unethical pump and dump schemes.
The criticisms are invalid if Bain tried their best at making a particular company succeed but failed.

If Perry and Gingrich want their arguments to work, they need to provide specific names of companies and what exactly Bain Capital did to cause the job losses.

ZGMF_Freedom on January 9, 2012 at 7:43 PM

I guess MoveOn.org should be thanking Newt, Perry and Huntsman for saving them tens of thousands of dollars and creating these ads.

Three flawed candidates choosing the one campaign slogan they should all agree on.

I’m starting to believe we are going to lose this thing.

Thanks, Paul, Mitch,and Chris.

Lance Murdock on January 9, 2012 at 7:43 PM

It is the duty of the republicans to end Romney’s campaign before Obama gets a chance to.

tom daschle concerned on January 9, 2012 at 7:36 PM

OK Thread’s over!

Sekhmet on January 9, 2012 at 7:43 PM

So I guess we’re not suppose to vett Romney and wait til the democrats do it later and he loses…Cause he will lose.

In this political climate nobody wants to vote for the guy who put people out of work for a living & that’s how it will play.

That’s how Teddy Kennedy whipped his ass in 94.
http://www.youtube.com/watch?feature=player_embedded&v=7c0y3FDgxf8

workingclass artist on January 9, 2012 at 7:43 PM

Oh just 22%. Phew, here I thought it was a lot. I guess when the Obama ads start rolling, just 22% won’t be that bad right? Obama will graciously point out the other 78%.

angryed on January 9, 2012 at 7:43 PM

The companies were already failing; can’t save them all. Ridicule all you’d like.

blatantblue on January 9, 2012 at 7:44 PM

I thought the Social Security attacks on Governor Perry were disgusting. I also think the capitalism attacks on Romney are equally bad. But I have to admit, Romney and his surrogates are doing a much better job than Perry did in responding. Almost instantly they’ve made attacks on Romney’s Bain career synonymous with attacks on capitalism in general — pretty smart. I think if Perry had been able to deflect those initial Social Security attacks as well as Romney is doing with these Bain attacks, he would be winning this race.

fed-nad on January 9, 2012 at 7:44 PM

Coolidge_Conservative on January 9, 2012 at 7:41 PM

If you are a Coolidge conservative like I am, you should be on Team Romney. He comes the closest to the 2nd greatest president of the 20th century of this group.

Jailbreak on January 9, 2012 at 7:44 PM

Dire Straits on January 9, 2012 at 7:41 PM

We’ll see what South Carolinians think about that.

Aslans Girl on January 9, 2012 at 7:44 PM

Well, Romney did say that he wants to be president of the 99%.

beatcanvas on January 9, 2012 at 7:45 PM

Man, open registration was a real downer.

blatantblue on January 9, 2012 at 7:39 PM

I am a newbie…and I agree!

northeastgirl on January 9, 2012 at 7:45 PM

Romney’s rivals are engaging in the type of Marxist rhetoric that we’re used to hearing from Occupy Wall Street protesters, promoting an imaginary view of capitalism that’s exists only in Hollywood.

Many of us have been saying this since the phony outrage began. What a joke, conservatives complaining about the way a man makes his money.

Do any of you morons own stocks? Have a 401k? Invest at all? You’re campaigning against your own bottom-line.

Capitalist Hog on January 9, 2012 at 7:45 PM

ZGMF_Freedom on January 9, 2012 at 7:43 PM

I think Newt’s PAC’s film does that. We’ll see when it comes out if it can make that case. I have a feeling it does.

Aslans Girl on January 9, 2012 at 7:45 PM

Romney should drop out of the race

davemason2k on January 9, 2012 at 7:46 PM

If you are a Coolidge conservative like I am, you should be on Team Romney. He comes the closest to the 2nd greatest president of the 20th century of this group.

Jailbreak on January 9, 2012 at 7:44 PM

Yes… Because we all remember how Coolidge loved socialized medicine & corporate bailouts.

tetriskid on January 9, 2012 at 7:46 PM

In case you guys missed it, Wall Street and these investment bankers like Bain are hated by America. They gambled and were bailed out by us. Mitt is going down

davemason2k on January 9, 2012 at 7:40 PM

Nonsense. America loves Wall St. And America loves corporate raiders that close steel mills in small towns. And America loves nothing more than old white millionaires who “love to fire people”.

Romney should win at least 61% of the vote, especially in places like Ohio and Pennsylvania. Guys in the 50s and 60s who were laid off by Romney types would love nothing more than to vote for him for president.

angryed on January 9, 2012 at 7:46 PM

The companies were already failing; can’t save them all. Ridicule all you’d like.

blatantblue on January 9, 2012 at 7:44 PM

All of them? Failing?

astonerii on January 9, 2012 at 7:46 PM

If Perry and Gingrich want their arguments to work, they need to provide specific names of companies and what exactly Bain Capital did to cause the job losses.

ZGMF_Freedom on January 9, 2012 at 7:43 PM

“Perry cited two South Carolina companies impacted by Bain Capital’s downsizing. Holson Burnes, a company controlled by Bain Capital in Gafney, shut down a photo album plant, causing 150 workers to lose their jobs after Bain Capital charged them $20 million in management fees. Perry also cited GS Industries in Georgetown, S.C., which Bain Capital merged with a company in Kansas City, resulting in the dismissal of 700 steelworkers in the two cities and the payment of $65 million in management fees…”

http://abcnews.go.com/blogs/politics/2012/01/perry-lambasts-romney-for-handing-out-pink-slips/

workingclass artist on January 9, 2012 at 7:46 PM

We’ll see what South Carolinians think about that.

Aslans Girl on January 9, 2012 at 7:44 PM

I am for Team Perry but I just do not see this as a good move and a winning strategy..:)

Dire Straits on January 9, 2012 at 7:47 PM

Here is an interesting scenario. Let’s just say Perry or Newt was the nominee. How is this rhetoric going to play to all us small business owners, who have had to fire employees in order to keep our businesses alive and support our families?

mark cantu on January 9, 2012 at 7:42 PM

Yep, exactly. I’ve been arguing that for the last two hours here in various threads. But hey – we’re just collateral damage on the way to the presidency, eh?

I’m pissed.

beatcanvas on January 9, 2012 at 7:47 PM

bluegill on January 9, 2012 at 7:43 PM

Funny, it’s mostly Mittbots doing the whining today.

Aslans Girl on January 9, 2012 at 7:47 PM

Errrr what’s traditional capitalism?

aryeung on January 9, 2012 at 7:48 PM

I understand where Newt is coming from on this. I consider myself a conservative, but I do have a problem with some venture capital outfits, who go in and buy-out companies and “try” to straighten them out. What it is, is they go in with a plan “a” and then, if that doesn’t work, plan “b” is to divest yourself of the company and cut your loses. Well, what if you’re plan “a” is not good enough? Let’s face it, you’re the complete judge of that. Hey, I tried this, it didn’t work, so jobs go to China. What if Romney is elected President and his plan “A” doesn’t work, is he going to try and divest himself of the country?

It’s time Romney should have to answer questions like that and, not necessarily, have people picking on Bain Capital alone. There is little doubt that, someone like Obama who only knows class warfare, will use these same arguments so, if Mitt wins, he should thank Newt for making him come up with answers.

bflat879 on January 9, 2012 at 7:48 PM

It’s Newt’s PAC allah not him, teehee.
What I like seeing is that Mr. Capitalism got a $44 million bailout at Bain.

Flapjackmaka on January 9, 2012 at 7:48 PM

LOL! Four posts on the same subject here, all defending Esptablishment Boy who was endorsed by HA in ’08. Interesting.

-Aslan’s Girl

Aslans Girl on January 9, 2012 at 7:37 PM

I’m starting to agree. This is getting strange. Newt & Rick certainly got a lot of people riled up.

portlandon on January 9, 2012 at 7:48 PM

Dire Straits on January 9, 2012 at 7:47 PM

Like I said, we’ll see. If Newt’s PAC’s movie can make a convincing case, it won’t be be a bad strategy.

Aslans Girl on January 9, 2012 at 7:48 PM

Republican endorsements and cash will really start rolling in for Romney now. Good luck trying to raise cash from the unions.

swamp_yankee on January 9, 2012 at 7:49 PM

Face it: Newt is horrible. He pledges to be the most positive campaingah evah, then he’s easily baited into this BS IMMEDIATELY after.

What sort of campaign discipline is that? He’s a joke, and he needs to leave.

blatantblue on January 9, 2012 at 7:41 PM

10 million neagtive ads that will dronw your postivie ratings will do that to you.

Have you ever wondered why this primary has become so vicious? It’s because Romney will use any and every dirty tactic to get the prize. Man, he started rubbishing Palin in 2008 in the general election. That’s how vicious he is . Problem, is even if he wins the nomination, he will have united the entire party against him.

There’s a reason why people followed the 11th commandment. Now ROmney has thrown it all away. He may’ve a few elites in his pack doing his dirty work but he has killed off the party and given us two Obama terms in the process.

promachus on January 9, 2012 at 7:49 PM

Fixed to be historically accurate.

MNHawk on January 9, 2012 at 7:42 PM

rofl. pwnt.

Coolidge_Conservative on January 9, 2012 at 7:49 PM

Attacking business? Really? More of the kind of judgement we have come to expect of Newt.

BobScuba on January 9, 2012 at 7:49 PM

Man, open registration was a real downer.

blatantblue on January 9, 2012 at 7:39 PM

I guess you were contacted directly to sign-up, right? Tool.

Capitalist Hog on January 9, 2012 at 7:49 PM

All of them? Failing?

astonerii on January 9, 2012 at 7:46 PM

Companies that were struggling for various reasons. Labor costs, mismanagement, etc.

blatantblue on January 9, 2012 at 7:49 PM

All of them? Failing?

astonerii on January 9, 2012 at 7:46 PM

All of them sought outside capital because they evidently didn’t have it internally. You don’t get a VC ride unless you’re an owner itching for a buyout or you think your company is threatened without it.

beatcanvas on January 9, 2012 at 7:49 PM

Funny, it’s mostly Mittbots doing the whining today.

Aslans Girl on January 9, 2012 at 7:47 PM

They’re toddlers. That mean old Gingrich isn’t playing fair. They’re going to hold their breath until he stops picking on poor old defenseless Mittens. It’s so unfair.

angryed on January 9, 2012 at 7:49 PM

don’t worry. #ows/baracky will be there in the fall for mittens. it will put a bain in his campaign

newrouter on January 9, 2012 at 7:49 PM

Maybe the folks who made the hit piece film that Newt says he never say work for Forstmann Little – a competitor of Bain’s that Newt is involved with. Oh my.

Philly on January 9, 2012 at 7:49 PM

Pompous Newt Gingrich and incompetent Rick Perry are nothing but loser RINO’s who should drop out immediately. Desperate Rick Perry and Newt Gingrich are using Occupy Wall Street rhetoric to try to hurt Romney… but it won’t work!

Romney is going to win the nomination and then defeat Obama.

bluegill on January 9, 2012 at 7:49 PM

Ah, but what kind of capitalism? Venture? Vulture?

Aslans Girl on January 9, 2012 at 7:42 PM

Oh please …you sound like a liberal. Seriously no wonder we are so screwed even people like you are buying the liberal line. Scary. Hey if somehow you guys take down Romney…have fun with four years of Obama. Perry hasn’t a shot.

CW on January 9, 2012 at 7:49 PM

Newton Gingrich would be a terrible candidate to nominate.

He’s with Pelosi one moment, against her a couple of years later. Against Paul Ryan, then for him a week later. Against negative campaigning, then engaging in it two weeks later.

blatantblue on January 9, 2012 at 7:38 PM

Of course. Who would want a flip flopper as a candidate?

Masih ad-Dajjal on January 9, 2012 at 7:49 PM

I guess you were contacted directly to sign-up, right? Tool.

Capitalist Hog on January 9, 2012 at 7:49 PM

No, I signed up and I’m not an obnoxious d-bag like half the people that came in this time around, f*ckwad.

blatantblue on January 9, 2012 at 7:50 PM

Funny, it’s mostly capitalists doing the whining today.

Aslans Girl on January 9, 2012 at 7:47 PM

Your posts do fix up nicely, I must say.

MNHawk on January 9, 2012 at 7:50 PM

Nice to see Hot Air go full tilt %100 crony capitalist.

tetriskid on January 9, 2012 at 7:40 PM

or in your case, full-tilt Socialist

Capitalist Hog on January 9, 2012 at 7:50 PM

Romney doesn’t like working people. He delights in their misery

liberal4life on January 9, 2012 at 7:50 PM

portlandon on January 9, 2012 at 7:48 PM

Seems like Newt and Perry rocked the boat today, doesn’t it? Maybe made some people think that Mitt’s easy victory got a little tougher? I don’t know.

Aslans Girl on January 9, 2012 at 7:50 PM

Those stupid conservatives, all that relating to people crap.

boogaleesnots on January 9, 2012 at 7:50 PM

Of course. Who would want a flip flopper as a candidate?

Masih ad-Dajjal on January 9, 2012 at 7:49 PM

Romney is a flip flopper, but the Newton-Crew walking around like their boy is some sort of superior candidate are straight up delusional, and they should be informed of their ridiculous delusions.

blatantblue on January 9, 2012 at 7:50 PM

My question is this whole controversy is….

How will Romney connect with the middle class since he has never been a middle class? He inherited over a 100 million dollars from his fathers estate… – liberal4life on January 9, 2012 at 7:33 PM

I guess that the Kennedys did not inherit a dime from Joseph Kennedy, who engaged in the illegal activity of importing demon rum and other distilled spirits during prohibition? Did Joseph Kennedy pay his income taxes on those profits? I guess it is mandatory that presidents must all be self-made men or women that come from poor or middle class families? Now that is strange, our revolutionary war leaders were part of the one percent.

SC.Charlie on January 9, 2012 at 7:51 PM

Republican endorsements and cash will really start rolling in for Romney now. Good luck trying to raise cash from the unions.

swamp_yankee on January 9, 2012 at 7:49 PM

Serious question:

Do you care about the general election at all? It seems like your own goal is to have Romney win the nomination. What happens afterwards is an afterthought for you. Or so it seems.

angryed on January 9, 2012 at 7:51 PM

I’m starting to agree. This is getting strange. Newt & Rick certainly got a lot of people riled up.

portlandon on January 9, 2012 at 7:48 PM

You are thinking this is a neutral site when it certainly isn’t? Garbage about Romney’s rival is par the course but anything about ROmney is totally off the table.

promachus on January 9, 2012 at 7:51 PM

I’m starting to agree. This is getting strange. Newt & Rick certainly got a lot of people riled up.

portlandon on January 9, 2012 at 7:48 PM

You tools are selling leftist propaganda that is how crazy this has become.

CW on January 9, 2012 at 7:51 PM

i’m a newbie, but i had posted a few years back but got banned beacuse i said naughty things about michelle my bell. with the Obama’s and this circus of fleas fighting to get the nom, i’m gonna need horse tranqualizers to not get banned again.

GhoulAid on January 9, 2012 at 7:51 PM

I’ve had it with investment firms illegally buying companies and then doing what they want with them. because obviously there were laws broken here.

Industry exists for one reason: To provide people jobs. Now if you will excuse me, I have to make sure my workers are producing their quota of matchlock pistols.

Bishop on January 9, 2012 at 7:51 PM

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