Here’s some surprisingly good and aggressive messaging from the DNC Chair.
Democrats have signaled they intend to wage an aggressive campaign to discredit Romney on the economy. Democratic National Committee Chairwoman Debbie Wasserman Schultz said the GOP primary was pointing the way.
“We applaud success, but his record, which he’s hung his candidacy on, of being a corporate raider, and of essentially coming into communities, devastating the local economy, shutting down plants, deliberately bankrupting companies and shipping jobs overseas is not one that voters are embracing,” the Florida congresswoman said. “I think probably the whole thing is more resonant [in a general election] than in a primary. I have to tell you, I was a little bit surprised that the Bain record is resonating in the primary, too.”
Romney impotently bleats that this is an attack on “free enterprise” and “capitalism.” We’ll see how many people agree with him. It’s telling that Romney always defends his actions at Bain Capital by referencing some of his more successful venture capitalist investments, like Domino’s, Sports Authority, and Staples. Almost no one is going to criticize him for making smart investments in good ideas that turned into large corporate chains that employ a lot of people. But Bain Capital changed their model in 1989 and focused less on venture capitalism and more on private equity and leveraged buyouts. Ms. Wasserman-Schultz described their activities uncharitably, but not inaccurately.
Personally, I would like a European-style health care system, but I’ve got nothing against capitalism. I have a problem with people like Mitt Romney who specialize in accelerating the decline of the middle class in this country and then picking over the bones of our lost jobs and depressed communities. He can’t defend his behavior because it can’t be defended, so, you know, STAPLES!!
It’s telling that Romney always defends his actions at Bain Capital by referencing some of his more successful venture capitalist investments, like Domino’s, Sports Authority, and Staples.
The problem with this response is that working at places like these isn’t considered a career. Most people working at one of these places are doing it while going to school, earning extra cash, or whatever. It’s not a place where people go expecting to make it a career. They aren’t a provider of many good, middle class jobs and people know it.
I don’t think that’s a problem, honestly. The problem is that Bain Capital isn’t primarily known for its venture capitalism and that’s not how Romney made his fortune.
Is it a bigger problem than Mittens telling Michigan to go Cheney itself? No. But to use business school speak, what value was he really adding?
There is a huge difference between CAPITALISM and LOOTING.
A capitalist starts a business to meet a need. She adds jobs as the business grows. She builds capital for future needs.
A looter sees the work of a capitalist and thinks “what can I do to steal that money?” The looter does not build. The looter takes the work of others, extracts the value by financial manipulation, and places the reeking, smoking hulk of a once-useful enterprise on the ashheap of history, while mumbling “I tried to save the jobs.” Actually, the looter has no interest in jobs. Jobs are the biggest cost of most corporations, so the looter/vulture capitalist/blood-sucking vampire of the Romney ilk is interested in JOB REDUCTION, not JOB RETENTION. The more jobs that are eliminated, the higher ROI for the looter.
Romney’s candidacy should be the opportunity for the discussion of this destructive and parasitic “business model.” You cannot make a business thrive by buying it, encumbering it with debt, and firing everyone. That is the Romney model.
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"But I will not let myself be reduced to silence."How are Domino’s, Sports Authority, and Staples venture capitalism? Venture capitalism supposedly funds new tech and new ideas. Funding boring chain lookalikes has nothing to do with either. Nor is there any evidence that any of them added any jobs. There were plenty of local pizza joints before Domino’s (and Godfather’s) as well as other chains that were driven out of business by nothing but deep corporate pockets that could afford to spend their competition out of business. Same goes for the other examples. None come even close to innovation or job creation.
It’s sad that this country is so narcotized by platitudes and capitalist cheerleading that no one even attempts to do real analysis of whether outfits like the above add any economic value at all in return for the labor exploitation and community destruction they bring.
I can only hope that this remarkable GOP primary makes it impossible for the Dems to keep ignoring the fundamental economic realities of capitalism, American-style. And Boo, boo on you for implying that you buy into the notion that there is something to the claim that Dem/liberal ideas are somehow contrasted with capitalism. Personally, I can only wish it were so.
Romney impotently bleats that this is an attack on “free enterprise” and “capitalism.”
Most people either don’t give a damn about “free enterprise” and “capitalism,” or are actively hostile to them.
They might be even more opposed to socialism, communism, fascism, or any other alternative, but that doesn’t mean they’re interested in flocking to the banner of capitalism. Most people are not Randians or Reasonoids or some other variety of market fetishist, and don’t really trust people who are.
Mitt Romney wants to brand himself as the champion of capitalism? Go right ahead.