Perry backer bails over Bain attacks

posted at 1:20 pm on January 12, 2012 by Ed Morrissey

Rick Perry has been campaigning in South Carolina since the Iowa caucuses, looking for a game-changer.  He may have found one, but not in the nature he was seeking.  As a consequence of joining Newt Gingrich’s attack on Mitt Romney over his private-equity experience, one of Perry’s big donors has quit — and switched to Romney:

One of Rick Perry’s leading financial supporters in South Carolina is defecting to Mitt Romney – and he told CNN Thursday that Perry’s sharp criticisms of Romney as a “vulture capitalist” were the main factor in his decision. …

Barry Wynn, the former chairman of the South Carolina Republican Party and a financial adviser in Spartanburg, said the escalating rhetoric about Romney’s business background is “destructive.”

“It’s just a dance I didn’t want to be a part of,” Wynn said in an interview, explaining his decision to leave Perry’s campaign.

Wynn, along with a handful of other previously neutral South Carolina moneymen, will publicly endorse Romney on Thursday.

“This latest attack, it’s so foreign to me, I couldn’t see myself being a part of that,” he explained. “I don’t think you can be on both sides of free market capitalism. A big part of me being a Republican for the last 40 years is that I think it’s the best hope to protect free market capitalism, the growth engine of our economy.”

There could be some populist cred for Perry if big donors tied to Wall Street start leaving him, but that’s a big trade-off for the funding Perry desperately needs in South Carolina.  If he can’t put ads on the air and compete with Romney, Santorum, and Gingrich, then Perry won’t go anywhere in his last-gasp effort to stay in the race. He’s already at the bottom of the pack in the latest Insider Advantage poll, at 5%.  Even Jon Huntsman scores better than Perry in South Carolina, at 7%.

The defection of Wynn looks a like a more principled version of what happened to Michele Bachmann in the last few days of the Iowa campaign. It’s likely to produce the same effect for Perry in South Carolina as it did for Bachmann in Iowa, which is to create the impression of an imploding campaign.


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My prediction is that Palin endorses Perry. He’s in it to Texas

workingclass artist on January 12, 2012 at 1:55 PM

Palin will not endorse Perry and he’s goes home after South Carolina.

JPeterman on January 12, 2012 at 2:02 PM

Palin defended Perry last night and asked Romney to release his tax returns.

Perry has the best record and the best plans and she is watching him be palinized.

She endorsed him for his last race and when given the chance last night to endorse Newt said Todd went rogue.

workingclass artist on January 12, 2012 at 2:07 PM

workingclass artist on January 12, 2012 at 1:47 PM

workingclass artist on January 12, 2012 at 1:55 PM

Up until last night Gov. Palin was a nobody in your eyes, then she says a nice word about Gov. “opps” and suddenly she’s the best? All is right? Please. Palin will not be endorsing Perry or anyone of these insipid bunch.

By the way, they’re not running away from Perry because of the Bain attacks. They’re running away because his numbers are tanking and have been tanking since he opened his mouth.

HerneTheHunter on January 12, 2012 at 2:07 PM

Perry and Gingrich showed their true colors – red.

Swerve22 on January 12, 2012 at 1:27 PM

Agreed, indefensible on their part. They let their masks slip and show who they really are. Thank goodness they did this before November!

scotash on January 12, 2012 at 2:08 PM

The fat lady has not sung.

Schadenfreude on January 12, 2012 at 1:33 PM

Exactly.

MTLassen on January 12, 2012 at 2:08 PM

Wynn, along with a handful of other previously neutral South Carolina moneymen, will publicly endorse Romney on Thursday.

It looks like they were looking for an excuse to join Romney and they found one.

This does help Rick Perry’s cred with the TEA party.

Bain Capital isn’t Mitt’s only problem in South Carolina, his tenure when he was Governor of Massachusetts and his record on abortion are going over like a ton of bricks with Evangelicals. Then there is always his lack of Military Service in a state that’s pro U.S. Military.

Whether Perry wins or loses, he fought the good fight, and it’s all good on him.

People get the government the deserve, Thomas Jefferson.

Dr Evil on January 12, 2012 at 2:11 PM

Back to Nigerhead Rock for you little ricky.

borntoraisehogs on January 12, 2012 at 1:28 PM
What a fool you are!

Schadenfreude on January 12, 2012 at 1:35 PM

Look at his name Schande…he’s in the pen wallowing in the mud snorting!
(Like mine-I have no real candidate yet, because I go from one to the other drinking their kool aid. SP to RP to ?)

KOOLAID2 on January 12, 2012 at 2:12 PM

No, they aren’t. You just haven’t heard the other side of the story yet.

blink on January 12, 2012 at 2:04 PM

The details are ugly. Madoff ugly. Obama-Solyndra ugly. Negatively impacting down ticket Senate and House race ugly. In other words, it’s not going to be pretty.

ZGMF_Freedom on January 12, 2012 at 2:12 PM

Because as we all know, an attack against a particular business practice at Bain is, ipso facto, an indictment of the entire free market. Riiiiiiiiight.

Stoic Patriot on January 12, 2012 at 1:26 PM

Nice try. The point is that the “particular business practice” is neither illegal nor unethical. It’s unfortunate for those negatively impacted but the only ones who claim that it’s “evil” are the ones who embrace Marxism. So when you adopt the rhetoric of Marxists, guess what? You’re gonna get called out for it, especially if you claim to be the “real Conservative.”

cicerone on January 12, 2012 at 2:14 PM

Up until last night Gov. Palin was a nobody in your eyes, then she says a nice word about Gov. “opps” and suddenly she’s the best? All is right? Please. Palin will not be endorsing Perry or anyone of these insipid bunch.

By the way, they’re not running away from Perry because of the Bain attacks. They’re running away because his numbers are tanking and have been tanking since he opened his mouth.

HerneTheHunter on January 12, 2012 at 2:07 PM

Wrong. I said she isn’t running in this race and that’s probably because of John “Bhopal” Coale who funded her superpac. I also said she was in a snit about Perry even though he’s never said a negative word about her and stood up for her in the WSJ/2009 calling her the face of the republican party.

She’s still on Fox as a pundit. She still likes to stir it up. That’s her gig stirring things up.

workingclass artist on January 12, 2012 at 2:14 PM

Only Ed Morrissey could consider a defection to Romney as “principled.”

Hot Gas keeps focusing on the Perry & Newt are marxists meme, but ignores the Romney video where he dumps capitalism for a Democrat-lite version of entitlements and growing government:

http://www.riehlworldview.com/carnivorous_conservative/2012/01/romney-channels-obama-in-1993.html

Note that the video is from 2003, not 1993.

IcedTea on January 12, 2012 at 2:14 PM

The only thing more futile than beating a dead horse is doubling down and beating a backfired dead horse.
whatcat on January 12, 2012 at 1:35 PM

I just do not understand what people like you have against democracy.
astonerii on January 12, 2012 at 1:49 PM

Yes, everybody is against democracy except Perry. But since he’s against capitalism, it all balances out.

whatcat on January 12, 2012 at 2:14 PM

Whether Perry wins or loses, he fought the good fight, and it’s all good on him.

People get the government the deserve, Thomas Jefferson.

Dr Evil on January 12, 2012 at 2:11 PM

He fought the good fight up until the Bain attack. Whether he over comes this latest flub, time will tell.

cozmo on January 12, 2012 at 2:14 PM

No, it doesn’t. Your vote is a vote within the representative republic. FAIL.

blink on January 12, 2012 at 2:03 PM

Representative Republic through democratic means. We are a democracy, and you fail. Take away the democratic aspect of it and what remains?

astonerii on January 12, 2012 at 2:15 PM

Perry is still the “one”. The race is not over, Palin is on Perry’s side in this, so much that Rush believes she wants Perry to rally, don’t be surprised to see her endorsement for him in S.C. she knows the true capable leader.

Tn.-Vol on January 12, 2012 at 2:15 PM

Keep the faith guys.

Steve Forbes is bringing up Romney’s openness to a VAT tax (yeah, now nothing says free market capitalism like a European socialist VAT tax) and Giuliani is talking about how he much prefers the long time conservatism of a Perry, Gingrich, or Santorum. And this is in NY. These guys know Romney and Bain are not going to sell well across the country.

Would any Republican care about Romney if he didn’t have money?

monalisa on January 12, 2012 at 2:15 PM

Palin defended Perry last night and asked Romney to release his tax returns.

Perry has the best record and the best plans and she is watching him be palinized.

She endorsed him for his last race and when given the chance last night to endorse Newt said Todd went rogue.

workingclass artist on January 12, 2012 at 2:07 PM

Palin has defended all of the candidates at various times, including Ron Paul.

And for last time, Rick Perry is not being “palinized”, Rick did that all by himself from his “heartless” remark, to his “oops” and his stupid “vulture capitalism” remarks.

Rick goes home after South Carolina.

JPeterman on January 12, 2012 at 2:16 PM

She endorsed him for his last race and when given the chance last night to endorse Newt said Todd went rogue.

workingclass artist on January 12, 2012 at 2:07 PM

Just because Sarah Palin defended Perry and campaigned against Kay Bailey Hutchinson in 2010 doesn’t mean she is delusional like you (and she certainly isn’t suicidal).

Perry’s campaign is as dead as Teddy Roosevelt. It’s time for Anita to admit that she isn’t going to be first lady and let Rick throw in the towel. Outside of a few Texas die-hards, Perry is a bad joke.

bw222 on January 12, 2012 at 2:17 PM

Not surprising. This is a bad move by Perry. I don’t like any of the rest of them well enough to throw in the towel — although I’ll vote for whichever of them gets the nomination — but Perry is really damaging himself here.

There are objectionable things done by companies like Bain, but the real problem is the government policies that foster, favor, and seek to profit from Bain-type restructurings and sell-offs. I don’t think it’s too much for the American voter to have that appeal made to him, instead of the creepy-populist “vulture capitalism” talking point.

Romney is perfectly fine with government policies that make some of the things Bain does artificially profitable. That problem is a government problem, and the top government position is what Romney is running for. Send him back to Bain, where he did a great job, and get someone else in to change government policy.

J.E. Dyer on January 12, 2012 at 2:20 PM

Perry is still the “one”. The race is not over, Palin is on Perry’s side in this, so much that Rush believes she wants Perry to rally, don’t be surprised to see her endorsement for him in S.C. she knows the true capable leader.
Tn.-Vol on January 12, 2012 at 2:15 PM

She would reduce herself to total irrelevancy by endorsing Mr. 5 %. Perry’s a national punchline; that’s really not a piece of baggage that Sarah would be wise to add to her luggage.

whatcat on January 12, 2012 at 2:20 PM

.

astonerii on January 12, 2012 at 2:20 PM

Yes, everybody is against democracy except Perry. But since he’s against capitalism, it all balances out.

whatcat on January 12, 2012 at 2:14 PM

No he’s against handing the nomination to a Wall St. Insider who lies about his record and is Obamalite and will lose to Obama in the general.

workingclass artist on January 12, 2012 at 2:22 PM

Nice try. The point is that the “particular business practice” is neither illegal nor unethical. It’s unfortunate for those negatively impacted but the only ones who claim that it’s “evil” are the ones who embrace Marxism. So when you adopt the rhetoric of Marxists, guess what? You’re gonna get called out for it, especially if you claim to be the “real Conservative.”

cicerone on January 12, 2012 at 2:14 PM

Which particular business practice of Bain are you referring to? What particular business practice of Bain’s are we calling illegal or unethical?

ZGMF_Freedom on January 12, 2012 at 2:22 PM

It’s almost as if the candidates attacking Bain for layoffs or restructuring business are saying, “The businesses were failing, but couldn’t you just let people hang around and do nothing?” You can’t decry unions for protecting unnecessary jobs, and then criticize Bain for creating efficiencies and, as a result, downsizing operations and letting people go.

How many of those people that were laid off because of Bain find work someplace else? I doubt any of them are still unemployed today. Jobs don’t necessarily add value to the economy. Moving rocks from one pile to another is a job, but doesn’t provide any value.

It’s a mindset that people have to get over- fear. Fear of losing a job. If you are worried about losing a job, then start your own business doing something, and be your own boss. I understand that many people don’t have that mindset, but that’s due more to the ‘Merican edumacation system than anything else.

I’m NOT a Mittens apologist, but railing against Romney for what he did at Bain is just bad form, and I think many Repub voters understand that.

conservablogger on January 12, 2012 at 2:22 PM

Good. Perry and Gingrich both really disappointed a lot of supporters with this populist claptrap they spewed.

More than anything else – it shows that they lack principal. It’s a “say anything” campaign for them. No thanks.

CycloneCDB on January 12, 2012 at 1:24 PM

Perry and Gingrich showed their true colors – red.

Swerve22 on January 12, 2012 at 1:27 PM

Back to Nigerhead Rock for you little ricky.

borntoraisehogs on January 12, 2012 at 1:28 PM

Good.

Perry really is dumb as a post.

Alcibiades on January 12, 2012 at 1:32 PM

Though Governor Perry is quite good at it, sincerity is the most difficult thing to fake particularly amidst the length and pressure of a presidential run. More people are seeing him now for what he truly is, a political opportunist.

MessesWithTexas on January 12, 2012 at 1:37 PM

How many Mittbots did Hot Air let in last open registration? Well, at least they will be gone soon, just like csdeven disappeared between 2008 and 2011.

Bill C on January 12, 2012 at 2:23 PM

Perry is still the “one”. The race is not over, Palin is on Perry’s side in this, so much that Rush believes she wants Perry to rally, don’t be surprised to see her endorsement for him in S.C. she knows the true capable leader.

Tn.-Vol on January 12, 2012 at 2:15 PM

Yep!

The only reason Mitt is ahead is the media propping him up & folks buying into this electability myth which Newt and Perry have blown wide open.

workingclass artist on January 12, 2012 at 2:25 PM

He fought the good fight up until the Bain attack. Whether he over comes this latest flub, time will tell.

cozmo on January 12, 2012 at 2:14 PM


The Bain attack isn’t over.
I stated in another thread words matter. When he attacked using Bain Capitol, he should never have used the word Capitalism – Corporate is just as easy to say ;)

I think the purpose of South Carolina by the Conservatives left in the race is to take out Romney, and it’s entirely possible one of them is sacrificing their campaign toward this end.

It’s like Thunder dome two men enter, one man leaves GRIN.

Wouldn’t it be a kick in the head if we ended up with Horatio Huntsman LOL!

Dr Evil on January 12, 2012 at 2:25 PM

Though Governor Perry is quite good at it, sincerity is the most difficult thing to fake particularly amidst the length and pressure of a presidential run. More people are seeing him now for what he truly is, a political opportunist.

MessesWithTexas on January 12, 2012 at 1:37 PM

Perry delivers results and he’s straight up with voters. They like him when they meet him…Too bad Romney doesn’t have that.

Can’t fake it…it’s a natural skill.

Perry likes People…Mitt not so much

workingclass artist on January 12, 2012 at 2:27 PM

Nice try. The point is that the “particular business practice” is neither illegal nor unethical. It’s unfortunate for those negatively impacted but the only ones who claim that it’s “evil” are the ones who embrace Marxism. So when you adopt the rhetoric of Marxists, guess what? You’re gonna get called out for it, especially if you claim to be the “real Conservative.”

cicerone on January 12, 2012 at 2:14 PM

Actually, if you’re buying out a company that’s teetering, fire all the workers, and then profit off the sale of all the tables, desks, lamps, etc, then there’s most definitely a case to be made about how ethical that is.

Stoic Patriot on January 12, 2012 at 2:28 PM

Perry said “vulture” capitalism.

Apparently one can not question anyone that uses “vulture” capitalism as thier means to profit. All “vulture” capitalists are pure and untouchable. In fact one cannot use that term (even though it is an actual phrase used in our business).

FYI, the term “corporatist” is forbidden too. Saying it makes you a socialist.

We are irrational and unable to debate certain subjects without name calling and tearing down good people who have tremendous conservative Repub accomplisments.

It sucks, it really does. I always thought of the Repub party as being the idea party (my 1st vote was for Ronald Reagon). But we are not, certain words are to go unspoken for they are the “words of the left”.

Hannity is so miffed at Perry that all the egotist Hannnity did all day yesterday was ask guest after guest about the astounding audacity that Perry “doubled down” and would not back down to Hannity.

Rush hit Perry as the program went off air yesterday and again within the first hour.

The right is piling on from all corners, They are burying Perry.

Since the establishment was already against Perry, he now has no one but a few from the grass roots supporting him.

And when Romney loses. You know who they’ll blame…..?

I was going say that I am switching to Newt. But, I am having serious doubts about my 30 year attachment to the GOP.

So for now….well at least I”l be able to spend the money on my family that I’d set aside for this year’s campaign.

tonotisto on January 12, 2012 at 2:28 PM

How many Mittbots did Hot Air let in last open registration? Well, at least they will be gone soon, just like csdeven disappeared between 2008 and 2011.

Bill C on January 12, 2012 at 2:23 PM

What I don’t get is if Perry isn’t a threat why do they bother?

Because he’s getting attention in the media – they picked up on “Vulture Capitalism” and it hit a nerve?

Dr Evil on January 12, 2012 at 2:28 PM

I searched the internet to find one of these candidates with something accurate to criticize Bain Capital for, and found each one used innuendo and cliches. Then I found out that it is just guessing, because the companies names are not public, so kind of like democrats, these candidates are hoping that if they open the door, someone will march thru with some facts here.

How do you know to criticize Bain Capital if it operates privately with private clients who don’t want everyone to know?

The ad that is running where I live, from Winning Our Future PAC says: Conservatives are asking…voters are asking…not actually WHAT they are asking based on any facts, just innuendo. You do not actually learn anything about Bain Capital from the ad, you just learn that “Conservatives are asking…something…”

Perry kept saying that Corporate Raiders were Looting unsuspecting companies, taking their profits….usually by the time you need the help of Bain Capital, what profits exactly would Perry be talking about? Assets are not Profits, they ARE the company.

Taking who’s profits? Is he implying in his ignorance that the profits belong to the WORKERS?

Fleuries on January 12, 2012 at 2:29 PM

Perry’s probably toast but Bain will certainly be an issue in the general. Romney claiming to be a huge job creator as a private equity / VC is something anyone with experience of either would likely giggle at. Sometimes they turn around businesses, sometimes they asset strip and part-out the company, and sometimes they seriously take advantage of start-ups.

Now, that’s all straight capitalism and that’s fine. But Romney’s been touting from the roof tops how he is a job creator and a problem solver. Perry and Gingrich took a shot, it just wasn’t a good one.

You can bet the Zero has a huge team dedicated to making the kill shot over Bain.

To be sure Perry screwed the pooch on this one. You can also be sure that you can explain private equity and VCs in a number of ways, some of which will look incredibly unsavory to many people. Economic literacy in the US is even lower than historical literacy.

CorporatePiggy on January 12, 2012 at 2:29 PM

blink on January 12, 2012 at 2:24 PM

Seriously, how much does Obama or Romney pay you to post here?

astonerii on January 12, 2012 at 2:29 PM

Taking who’s profits? Is he implying in his ignorance that the profits belong to the WORKERS?

Fleuries on January 12, 2012 at 2:29 PM

Actually some of the profits he took were owned by the workers. They were pension plan funds. The government had to bail out his failed companies to the tune of $55 million dollars.

astonerii on January 12, 2012 at 2:32 PM

blink on January 12, 2012 at 2:31 PM

Obama it is.

astonerii on January 12, 2012 at 2:32 PM

It’s almost as if the candidates attacking Bain for layoffs or restructuring business are saying, “The businesses were failing, but couldn’t you just let people hang around and do nothing?” You can’t decry unions for protecting unnecessary jobs, and then criticize Bain for creating efficiencies and, as a result, downsizing operations and letting people go.
conservablogger on January 12, 2012 at 2:22 PM

There’s nothing efficient about creating unsustainable debt. And there is nothing ethical about using debt to pay dividends. That is our argument, not this “everyone has to have jobs no matter what” argument you are putting in our mouths.

ZGMF_Freedom on January 12, 2012 at 2:33 PM

Perry delivers results and he’s straight up with voters. They like him when they meet him…Too bad Romney doesn’t have that.

Can’t fake it…it’s a natural skill.

Perry likes People…Mitt not so much

workingclass artist on January 12, 2012 at 2:27 PM

The polls seems to say otherwise…

E L Frederick (Sniper One) on January 12, 2012 at 2:33 PM

I did not like Herman Cain a whole lot, especially how he convinced people that the national 9% sales tax was not a VAT, and his fans never asked him what the difference between a 9% tax and a VAT were. I don’t see a VAT in the Romney plan, if someone can tell me what page it is on. So the news is he is not talking about not having a VAT in his plan? He is also not saying that he is not beating his wife, is he or is he not?

Fleuries on January 12, 2012 at 2:34 PM

. Send him back to Bain, where he did a great job, and get someone else in to change government policy.

J.E. Dyer on January 12, 2012 at 2:20 PM

Who?

JPeterman on January 12, 2012 at 2:34 PM

No, because the “vulture capitalism” attacks were harmful to the country. We can’t go around unfairly demonizing all business practices that are difficult for people to understand.

blink on January 12, 2012 at 2:30 PM

You’re right. I don’t understand the business practice of borrowing money to pay dividends. Dividends should be paid on profits.

ZGMF_Freedom on January 12, 2012 at 2:36 PM

It’s likely to produce the same effect for Perry in South Carolina as it did for Bachmann in Iowa, which is to create the impression of an imploding campaign.

Impression?

Didn’t you hear that big “Whump!”?

iurockhead on January 12, 2012 at 2:36 PM

Good. Perry and Gingrich both really disappointed a lot of supporters with this populist claptrap they spewed.

More than anything else – it shows that they lack principal. It’s a “say anything” campaign for them. No thanks.

CycloneCDB on January 12, 2012 at 1:24 PM

Enjoy the coming attack from Obama when your mush man, Romney becomes the nominee. He’s even worst than McCain and he lost….

Shain1611 on January 12, 2012 at 2:36 PM

Would any Republican care about Romney if he didn’t have money?

monalisa on January 12, 2012 at 2:15 PM

yet another marxist obsessed with Romney’s wealth…well, you have a chance at electing Obama or Gingrich and who knows, maybe they will actually proceed to confiscating the wealth of people, or nationalize some of it, much like Lenin did :)..that might make you sleep better at night :-)

jimver on January 12, 2012 at 2:36 PM

It’s almost as if the candidates attacking Bain for layoffs or restructuring business are saying, “The businesses were failing, but couldn’t you just let people hang around and do nothing?” You can’t decry unions for protecting unnecessary jobs, and then criticize Bain for creating efficiencies and, as a result, downsizing operations and letting people go.

conservablogger on January 12, 2012 at 2:22 PM

We don’t know how many of these businesses were going concerns without troubles. Do you remember the leveraged buyout craze of the late 80s? It ended with the buyout of RJR Nabisco and the breakup of that company.

The driver behind the LBOs was cheap money and the fact that a lot of businesses were undervalued after the recession of 1983. Many times those companies were just fine but the owners sold when offered a good price. Of course, the debt made it important to cut to the bone and the LBO firms did just that with the knowledge they could always break up the business and sell it for parts.

I am sure the Bain did that as a part of its business and that is why it is important for us to know about Bain’s deals now. You can bet that if there is anything shady the Obama machine will expose it. For the same reason we needed Cain to be more forthcoming, Romney needs to explain his deals. Otherwise, we are choosing a nominee with incomplete information and exposing ourselves to a political landmine.

Bill C on January 12, 2012 at 2:36 PM

Wouldn’t it be a kick in the head if we ended up with Horatio Huntsman LOL!

Dr Evil on January 12, 2012 at 2:25 PM

Yes, it would be.

cozmo on January 12, 2012 at 2:37 PM

Hannity is so miffed at Perry that all the egotist Hannnity did all day yesterday was ask guest after guest about the astounding audacity that Perry “doubled down” and would not back down to Hannity.

Rush hit Perry as the program went off air yesterday and again within the first hour.

The right is piling on from all corners, They are burying Perry.

Since the establishment was already against Perry, he now has no one but a few from the grass roots supporting him.

tonotisto on January 12, 2012 at 2:28 PM

They want him out before Texas cause Texas has 155 delegates.

Obama will use Texas jobs numbers to win the election saying “In 2010 we added more than 200,000 jobs…I’m turnin’ this around folks” He just won’t tell people that happened in Texas…or that Texas added jobs every month for the last 9 months and was the only state to do that.

http://3.bp.blogspot.com/-9ETJ8sNv8Rk/Tim3MP2nIkI/AAAAAAAAALc/s6leCKZ2_7Q/s1600/Picture1%2B-%2BCopy%2B%2

http://texanomics.blogspot.com/#!/2010/12/texas-has-added-more-than-200000-jobs.html

workingclass artist on January 12, 2012 at 2:37 PM

Because he’s getting attention in the media – they picked up on “Vulture Capitalism” and it hit a nerve?

Dr Evil on January 12, 2012 at 2:28 PM

No, because the “vulture capitalism” attacks were harmful to the country. We can’t go around unfairly demonizing all business practices that are difficult for people to understand.

blink on January 12, 2012 at 2:30 PM

Harmful to the country? Right…..

That’s B.S. and you know it. This is a free country people have the right to criticize and demonize anything they want. Hell if they are Ron Paul, they can take their crazy act on the road, and run for President of the United States if they want.

Dr Evil on January 12, 2012 at 2:37 PM

Enjoy the coming attack from Obama when your mush man, Romney becomes the nominee. He’s even worst than McCain and he lost….

Shain1611 on January 12, 2012 at 2:36 PM

Y’all Romney haters keep sayin’ that. What you fail to include is that this isn’t 2008 either.

cozmo on January 12, 2012 at 2:38 PM

Why, because every business practice is ultimately morally good? So the businesses in the early part of the industrial revolution who had access to many more workers than they needed treated them poorly enough to disable many of them were paragons of absolute virtue?

astonerii on January 12, 2012 at 1:30 PM

Is that you, Mr. Marx?

Gelsomina on January 12, 2012 at 2:39 PM

No, they don’t. Unless you think that all venture capital is exploitive – which is ridiculous.

blink on January 12, 2012 at 2:32 PM

Exploitative is such an unpleasant word. I prefer, expeditious.

CorporatePiggy on January 12, 2012 at 2:41 PM

No, because the “vulture capitalism” attacks were harmful to the country. We can’t go around unfairly demonizing all business practices that are difficult for people to understand.

blink on January 12, 2012 at 2:30 PM

It is not demonizing to say that leveraged buyouts were not necessarily of economic value. There are legitimate questions about whether Bain “stripped and ripped” companies. LBOs particularly hurt small communities in which the business that was bought was the major local employer.

Bill C on January 12, 2012 at 2:42 PM

What I don’t get is if Perry isn’t a threat why do they bother?

Because he’s getting attention in the media – they picked up on “Vulture Capitalism” and it hit a nerve?

Dr Evil on January 12, 2012 at 2:28 PM

It hit a nerve because Bain did some stock pump and dump with Lehmann Bros.

Perry’s saying Romney is part of the problem as a Wall St. Insider…just like he’s said the others are Washington Insiders.

Rush just said a lot of people compare Romney to Nixon.

workingclass artist on January 12, 2012 at 2:42 PM

Palin is on Perry’s side in this, so much that Rush believes she wants Perry to rally, don’t be surprised to see her endorsement for him in S.C. she knows the true capable leader.

Pardon?

I never rally joined in the Palin attacks of last year, but come now, who gives a rip about Palin anymore?

How is she still a topic of discussion?

What do the Palin faithful have to say about her leading them on about a run for POTUS?

How many people who call themselves Tea Partiers sat and waited for the Mama Grizzly to enter the race and save the GOP, then to see their hopes dashed – with absolutely no back-up plan.

If the Tea Party survives going forward … no it won’t, it has already been co-opted by so many different groups, it doesn’t function as a factor any longer. It has changed so much from it’s original intent, it’s sad to see.

What started as ordinary Americans upset with runaway spending and taxes, turned into some quasi-political entity, and produced such gems as O’Donnell and the Great Wait for Palin. This generic Tea Party took credit for every race in the country, then threw temper tantrums and hissy fits at each and every outcome that it didn’t approve of.

I’m pretty sick of hearing about the Tea Party at this point. Evolution has not been kind to this creature.

reaganaut on January 12, 2012 at 2:42 PM

Perry should have just let Newt do his thing. Why did he have to get involved? He took a lot of people who quit Newts campaign, didn’t he? So much promise…such a pinhead!

KOOLAID2 on January 12, 2012 at 2:44 PM

Harmful to the country? Right…..

That’s B.S. and you know it.

Dr Evil on January 12, 2012 at 2:37 PM

No, it’s not B.S. Demonizing industries that are needed by the free enterprise system hurts this country.

This is a free country people have the right to criticize and demonize anything they want.

Sure you do, but that doesn’t mean that your criticisms are helpful. In this case, your criticism is harmful to the country.

blink on January 12, 2012 at 2:40 PM

Uh Huh because that’s your call to make – you are in charge of who has 1st Amendment rights, and who get’s to express what LOL!

Dr Evil on January 12, 2012 at 2:44 PM

If someone could tell me the difference between Bain Capital and Berkshire Hathaway, I’d be happy. From what I can see, it’s a matter of size, not kind.

I note that Obama is supported by the primary stockholder and CEO of Berkshire Hathaway.

unclesmrgol on January 12, 2012 at 2:45 PM

Perry could be the biggest dope who ran for President in my lifetime. He should be made to return all donations and head back to Texas.

kozmo on January 12, 2012 at 2:46 PM

We must stop using Marxist terminology. We are playing into the hands of the Democrat Socialists.

Capitalism is a Marxist term for a socialist concept that bears little relation to reality. We have a free market economy. We do not have Capitalism, which exists only in the minds of deluded ideologues.

It is folly to attack Romney and Bain for engaging in the buying and selling of assets in free markets. They did not engage in any form of market manipulation or fraud. Business is business.

The realities are that life is hard and there are no guarantees.

Marxism is based on the preposterous notion that those realities can be changed by centralizing authority and economic decision-making in the hands of a few rulers who are so smart they know what is best for everyone else and can manage vast economic systems from the top down. When we use Marxist terminology we accept the nonsensical Marxist paradigm, and the battle for a rational free market based economy is already lost.

novaculus on January 12, 2012 at 2:47 PM

It hit a nerve because Bain did some stock pump and dump with Lehmann Bros.

Perry’s saying Romney is part of the problem as a Wall St. Insider…just like he’s said the others are Washington Insiders.

Rush just said a lot of people compare Romney to Nixon.

workingclass artist on January 12, 2012 at 2:42 PM

Looks like Rush got some blow back from his conservative listeners. Mitt’s Dad was a member of Nixon’s cabinet. The idea for Romneycare actually came from the Nixon administration. It’s not a stretch for Nixon comparisons. Except I don’t think even Mitt could compete with Nixon’s ego. Obama is also known for Nixonian tendencies.

Dr Evil on January 12, 2012 at 2:48 PM

My take on this is that the repub estab put pressure on
Perry’s supporters/backers (and others)to switch to Romney.
They, being the opportunists they mostly are, also want to
be seen as backing a winner – “in with the in crowd”, if you will.
Perry has been slipping in the polls and if you listen to the
pundits Romney is the new savior. This is nothing more than
a lame excuse to back away. Perry and Newt have said nothing
that isn’t true. And we “can’t handle the truth” ala Jack
Nicholson!

Those of you who are backing away from Perry and Newt because
of this either don’t understand what corporate raiders do and
Bain Capitol did/does or are flip floppers from candidate to
candidate, changing every time they do or say something you get
in a snit about.

Amjean on January 12, 2012 at 2:49 PM

If someone could tell me the difference between Bain Capital and Berkshire Hathaway, I’d be happy. From what I can see, it’s a matter of size, not kind.

unclesmrgol on January 12, 2012 at 2:45 PM

Berkshire spends its money on viable companies and supports those companies. Bain took over companies that were worth more for their assets than their products. They turned some around, sold off other piece by piece for the profit.

When that happened around here, Minyard’s Food stores, many stores were closed and jobs lost. The chain was sold off for the profits.

cozmo on January 12, 2012 at 2:50 PM

““Well it’s pretty hard to make the argument that the governor of the state that’s created more jobs than any other job in the nation is against the free market,” Perry said on FOX today when asked about accusations that his attack on Romney’s role at Bain Capital were anti-free market. “You talk about barking up the wrong tree. That’s a waste of time.”

“I think we’re making the point that the Republican Party should always be about creating an environment where jobs can be created. There are a lot of private equity firms that come in and they help build jobs, but in those cases where they’ve come in and basically taken the profits out of these companies and then sold them for a quick profit, I’m not for that and I don’t think most people in South Carolina are,” said Perry.

The Texas governor, who is doing a series of radio and television interviews today, was asked about the topic again on Laura Ingraham’s Radio Show.

Perry wants the people of South Carolina to evaluate Romney’s tenure at Bain Capital, specifically pointing to two area companies which Bain Capital took over and eliminated hundreds of jobs.

“It’s a matter about vetting a candidate,” said Perry on FOX. “I mean, I didn’t hear anybody questioning when they were attacking me for things that I’ve done. So the fact is this process is about winnowing out individuals who and testing whether or not they’re a flawed candidate or not. And I will tell you that when people can point to where you made a quick profit and kicked people out of their jobs, that is an issue that’s got to be addressed.”

Perry debuted the vulture line on Tuesday, but by Wednesday afternoon, the line of attack was removed from his speech. While meeting voters at the Lizard’s Thicket this morning, Perry never mentioned Romney or Bain Capital by name, instead only referencing the need to replace Washington and Wall Street insiders with an outsider like himself…”

http://abcnews.go.com/blogs/politics/2012/01/perry-drops-vulture-capitalism-from-speech-but-it-still-hovers/

workingclass artist on January 12, 2012 at 2:50 PM

If going after “vulture capitalism” is wrong/anti-capitalist/marxist, don’t tell that to the Romney campaign:

http://www.damndirtyrino.com/2012/01/11/if-vulture-capitalism-is-wrong/

IcedTea on January 12, 2012 at 2:52 PM

Perry could be the biggest dope who ran for President in my lifetime. He should be made to return all donations and head back to Texas.

kozmo on January 12, 2012 at 2:46 PM

You are a hatin’ nutball moron numbskull.

And, If I had been smart during the last registration, I would have taken that handle for my own personal sock puppet to play with (that you ain’t my sock puppet makes it better). Or a minion, I never had one of those.

cozmo on January 12, 2012 at 2:52 PM

You’re right. I don’t understand the business practice of borrowing money to pay dividends. Dividends should be paid on profits.

ZGMF_Freedom on January 12, 2012 at 2:36 PM

Loading up a company with debt and selling that debt to unsuspecting investors with the help of Wall Street firms is highly unethical. Henry Blodget was kicked out the financial industry for touting stocks that he privately said was junk.

Bain seems to have done this with a company called DDI, all of this is in Newt’s 28 minute video. Bain was dumping shares of DDI as Lehman Bros. was touting them on the street. They sold out in the mid-20s and the stock went to $.01 within a few years. Investors who want to create businesses and jobs don’t pump and dump stocks. They don’t move in and out of companies after a few years. Buffet holds his companies for decades. Bain was after quick buck.

Bill C on January 12, 2012 at 2:52 PM

No, but you certainly can’t stop me from accurately claiming that your speech is harmful to the country.

Are you somehow under the impression that ALL speech is helpful to the country?

blink on January 12, 2012 at 2:48 PM

Are you special Mr censorship advocate?

The remedy for unpopular speech is more speech not less. It’s called the 1st Amendment – Google it. No one has to meet your standard of what speech you find acceptable, heloful or otherwise.

Dr Evil on January 12, 2012 at 2:53 PM

Lie

blink on January 12, 2012 at 2:51 PM

Nope, for good or bad, it is what it is.

cozmo on January 12, 2012 at 2:54 PM

Perry should have just let Newt do his thing. Why did he have to get involved? He took a lot of people who quit Newts campaign, didn’t he? So much promise…such a pinhead!

KOOLAID2 on January 12, 2012 at 2:44 PM

Perry has already been tying Romney as a Rino Wall St Insider who happened to be a lousy liberal governor too and he got pissed that Romney is saying he’s a bigtime job creator.

Whoa…conservatives are staring to call in to Rush and defend Newt. Rush is cutting her off.

workingclass artist on January 12, 2012 at 2:55 PM

Dems Prepare To Hammer Romney With The REAL Bain Onslaught from TPM headlines. It looks like Newt and Rick did Mitt a favor getting this out in the open now instead of later in the General.

Dr Evil on January 12, 2012 at 2:56 PM

Loading up a company with debt and selling that debt to unsuspecting investors with the help of Wall Street firms is highly unethical. Henry Blodget was kicked out the financial industry for touting stocks that he privately said was junk.

Bain seems to have done this with a company called DDI, all of this is in Newt’s 28 minute video. Bain was dumping shares of DDI as Lehman Bros. was touting them on the street. They sold out in the mid-20s and the stock went to $.01 within a few years. Investors who want to create businesses and jobs don’t pump and dump stocks. They don’t move in and out of companies after a few years. Buffet holds his companies for decades. Bain was after quick buck.

Bill C on January 12, 2012 at 2:52 PM

Yep.

Anybody want to defend Bain Pump and Dump for 9 months?

I don’t. I’ll stick with the Gov. from Texas cause he has a great record and has solid pans.

workingclass artist on January 12, 2012 at 2:58 PM

Rick Santorum showed some character. As for the rest of them: “I heard those words, ‘cradle of leadership.’ Well, when the bough breaks, the cradle will fall. And it has fallen here, it has fallen! Makers of men, creators of leaders — be careful what kind of leaders you’re producing here”

Mr. Joe on January 12, 2012 at 2:51 PM

Santorum is a Union Putz who lost his last race.

workingclass artist on January 12, 2012 at 2:59 PM

blink on January 12, 2012 at 2:56 PM

I think you’re special, and it doesn’t matter what your critique is of other people’s speech. It’s just too bad if you have butt hurt over “Vulture Capitalism” phrase.

Dr Evil on January 12, 2012 at 3:00 PM

Do you remember that the buyout craze of the 1980′s was also fueled by the fact that companies weren’t comprised of synergistic components? This is why so many companies were worth more broken up, then as a whole.

RJR Nabisco operated too many disparate business lines. The old business theory was based on diversification, but it was stupid because the business lines lacked synergy.

blink on January 12, 2012 at 2:47 PM

You are right about the need to restructure. Many companies were better off under new management. What was harmful was the amount of debt used. If you watch the movie Barbarians at the Gates the end of the movie is just ridiculous in that the price paid and the amount of debt is not a concern. The whole point is to get the company and see if you can make it work, otherwise, sell off its parts. Our financial system, fiat money, allows for the creation of money without value and we have paid with rampant inflation in consumer and asset prices.

(BTW, I am not a Ronulan but he is right about the dangers of money without a commodity backing. It is just to tempting for politicians to devalue the currency for short term political gain. It’s a shame that a nut like Paul is the chief proponent of sound money.)

Bill C on January 12, 2012 at 3:01 PM

Dems Prepare To Hammer Romney With The REAL Bain Onslaught from TPM headlines. It looks like Newt and Rick did Mitt a favor getting this out in the open now instead of later in the General.

Dr Evil on January 12, 2012 at 2:56 PM

Hey Dr. Evil, good to see you.

Bill C on January 12, 2012 at 3:02 PM

Nope. It’s a disgusting lie.

blink on January 12, 2012 at 2:56 PM

You can think and write what you want, and the description was not a knock on Bain. If Cain hadn’t turned around Godfather’s Bain might have. Or it could have sold of the assets. That is what happens with take overs. That you deny it shows your ignorance.

cozmo on January 12, 2012 at 3:04 PM


The details are ugly. Madoff ugly. Obama-Solyndra ugly. Negatively impacting down ticket Senate and House race ugly. In other words, it’s not going to be pretty.

ZGMF_Freedom on January 12, 2012 at 2:12 PM

I think it is important to emphasize that this statement is completely untrue. As part of its overall business plan, Bain made lots of investments in troubled companies, hoping to turn them around. Sometimes it doesn’t work. After all, these companies are in trouble for a reason.

But when you invest in risky propositions, you are entitled to larger rewards. Bain’s rate of return for its investors is not out of line for the business it is in, and its practices are decidedly not predatory, even though sometimes they involve (gasp) layoffs (just like Herman Cain at Godfather’s Pizza!). In fact, their annual ROI is a little low for what current VC investors expect.

Not a Romney supporter here (at least not yet). Just irked at the populist/pandering attacks, coming from conservatives who should know better (although I have no idea whether that phrase describes ZGMF at all).

HTL on January 12, 2012 at 3:06 PM

I’m NOT a Mittens apologist, but railing against Romney for what he did at Bain is just bad form, and I think many Repub voters understand that.

conservablogger on January 12, 2012 at 2:22 PM

For the last time, its not what Bain did but HOW. Its on a Madoff’s scale to have your partner hype up your stock while you are quietly dumping it on the side.

And in regard to your thoughts, that 6 degrees of separation have hurt Romney last time and will again hurt him this time around as well. If you and anyone else out there think that those who lost jobs to Romney’s “capitalist” model will ever vote for the lying cheat you really need to analyze your ability to think logically. And those who have lost jobs also have friends and family, that’s your 6 degrees of separation. Now, how many MILLIONS of votes is that? Across pretty much every state in the union? I can’t believe anyone in the so called Republican Party endorsing Romney can be that stupid and ignorant, but one learns something new every day and nothing will surprise me at this time.

Romney’s nomination is an automatic re-election of Hussein. Period. And an end of discussion.

riddick on January 12, 2012 at 3:06 PM

Are you serious? Are you really trying to claim this? Why was Bain required to hold stock that Lehman Brothers claimed that they liked?

Would Bain be allowed to sell their gold stocks right now even though some analysts like gold stocks???

Seriously? Is this the best you have?

blink on January 12, 2012 at 3:02 PM

Bain did a pump & dump and Lehmann Bros. covered for them in the pump of the stock.

workingclass artist on January 12, 2012 at 3:07 PM

Hey Dr. Evil, good to see you.

Bill C on January 12, 2012 at 3:02 PM

Hey,

Did you read that article? They are peeved but still hopeful they can dust off the Bain Capital issue for the General.

“This isn’t a primary attack in the first place — it’s why we haven’t put any resources behind Romney as a corporate buyout specialist at this stage — it’s a general election issue for independent and swing voters in places like Ohio, Michigan, Pennsylvania, and Indiana,” a senior Democratic strategist told TPM. “We were shocked that his rivals went there but nonetheless pleased because now the charges about his status as a corporate raider enjoy the lustre of bipartisan ship.

Dr Evil on January 12, 2012 at 3:08 PM

Actually some of the profits he took were owned by the workers. They were pension plan funds. The government had to bail out his failed companies to the tune of $55 million dollars.

astonerii on January 12, 2012 at 2:32 PM

Astonerii
Read below article as williamson explains this is a false meme out there on the whole bailout issue.
http://www.nationalreview.com/exchequer/287927/no-bain-did-not-get-bailout

Also we ALL need to understand the differences between venture capital and private equity (which Bain Capital is). PE firms invest THEIR own money and some of the fledgling companies that they BELIEVE will still be viable otherwise why try to LOSE your own money. Part of turning around these companies is SOMETIMES paring down employees and management but not in all cases. Out of 77 during Romney’s time 17 failed and went the bankruptcy route some of these 17 were steel mills that almost all PE firms could not save as steel was being severely undersold in this country…ask PA, OH, WV, etc…

g2825m on January 12, 2012 at 3:09 PM

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