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More egregious: Bane of Bain, or "Fast and Furious"?

By John W. Lillpop
web posted January 16, 2012

Thanks to Newt Gingrich and those who have funded his latest manic episode, the Republican Party and Mitt Romney are being forced to defend themselves from attacks against the very concept of free-market capitalism.

Republicans savagely attacking other Republicans for engaging in free-market capitalism during a vital presidential election year?

Good grief, Ronald Reagan must be turning over in his grave!

Knowledgeable pundits like conservative Charles Krauthammer have issued ominous warnings about the impact that Gingrich's bitter tirade might have in the 2012 elections.

For example, should Romney become the eventual Republican nominee, ObamaMites in the White House will have an anti-capitalism, anti-Romney attack campaign ready to use, after some minor editing.

Said campaign will be based on the exact words of a contemporary Republican presidential candidate and former Speaker, which include the following words about Bain:

"This is a story of greed, of playing the system for a quick buck, a group of corporate raiders led by Mitt Romney more ruthless than Wall Street. For tens of thousands of Americans, the suffering began when Mitt Romney came to town."

Most significantly, Obama will have a cool $1 billion dollars, the Bully Pulpit of the Presidency, and the leftist mainstream-media available to proliferate all anti-Romney misspeak uttered by the former Speaker into every household in every language spoken in America

It may very well be the bane of Bain for Romney. And it may lead to the re-election of the worst president in U.S. history in an election year that is pivotal and crucial for the survival of America.

Thanks Newt Gingrich! For exactly nothing!

For this and your branding of the Paul Ryan budget as "right-wing social engineering," your cavorting with Nancy Pelosi on the issue of global qarming, and your despicable feeding at the public trough of Fannie Mae and Freddie Mac to the tune of $1.6 million, you deserve to be excommunicated from the GOP for life.

While Gingrich's assault on free-enterprise and Mitt Romney may indeed lead to another four years of Marxist amateurism at the White House and be the final nail in the death of the American Dream, the Mitt Romney forces should use the Gingrich assault as a model for preparing for the lies and distortions sure to come from the Obama campaign tyrants.

Defending Romney's term as CEO of Bain should be akin to promoting apple pie and motherhood. For instance, as reported, in part, at the reference concerning the ad-movie issued by Gingrich:

"First of all, it is a stretch to portray Romney as some sort of corporate raider, akin to Carl Icahn (whose image is briefly seen). Bain Capital initially was in the business of providing venture capital -- seed money -- for start-ups, such as Staples. Then it moved to the more lucrative business of private equity, in which Bain won control of firms, reorganized them and then sold them for profit."

Private equity deals, such as leveraged buyouts in which the company borrows lots of debt, can be more rewarding but also more risky. Some of those deals went bad for Bain, which sometimes happens in finance, though the company usually made money anyway. New York magazine, which the film cites as a source, recently ran an excellent profile of Romney in which it explored Romney's pioneering role in the then-emerging field of private equity. Private equity revolutionized American business, demanding efficiencies (which can mean layoffs) and helping place much more emphasis on increasing shareholder value.

The movie pejoratively claims that the "Bain Way" was shorthand for being able to "turn the misfortunes of others into their enormous financial gains." Bain Capital was actually an offshoot of Bain & Company, a consulting firm, and the "Bain Way" refers to its heavily analytical and data-driven approach to problems.

In sum, firms like Bain exist to give a smidgen of hope to businesses on the fast track to bankruptcy and going belly up. Sure enough, some of that hope turns to anguish, but at least there is a chance at success, albeit small, for the beleaguered business owners and their employees.

Yes, Bain made money. Yes, people lost their jobs.

Those are simply facts of life under a capitalist system that has produced the greatest prosperity in the history of the world!

Other important considerations pertain: For example, how does Romney's work at Bain compare to Barack Obama's stated objective of using government to deliberately bankrupt the coal industry, thereby destroying jobs and prosperity opportunities?

During the 2008 campaign, a naïve Barack Obama crowed about the ability of government to use regulation and enforcement to bankrupt business interests which the Left opposes ideologically.

Like coal.

And as we have seen over the past three years, Obama's anti-American, anti-business obsession has been unleashed on American businesses time and again.

Obama's rejection of the Keystone Pipeline is a perfect example of his willingness to forsake thousands of American jobs and energy dependence in order to pander to environmentalists!

By contrast, Romney's work at Bain was not a deliberate attempt to bankrupt any one, or to cause anyone to lose his or her job.

Then we have the Solyndra folly in which Obama tyrants actually granted tax-payer funded loans to companies solely because Solyndra was engaged in an energy source (solar) which the president favors.

Even worse, ObamaMites rewrote the rules to favor Solyndra investors over taxpayers by giving investors first claim against Solyndra in the event of bankruptcy.

Of course, Solyndra did eventually go bankrupt, leaving taxpayers with the $500 million tab for Obama's foolish environmental myopia. In addition, 1200 jobs were lost.

Remember too, that Obama requested that Solyndra delay layoff notices until after the 2010 elections.

Perhaps the most poignant example of Obama's evil use of government against the American people and business is found in the "Fast and Furious" scandal in which Obama and Eric Holder, die-hard anti-2nd Amendment zealots, deliberately arranged for dangerous weapons to be "walked" across the Mexican border and into the hands of Mexican cartels, the notorious terrorists who actually run Mexico.

This Obama-Holder atrocity cost an American border patrol agent his life and killed innocent Mexican citizens their lives as well.

Again, the loss of life was the result of Obama's deliberate attempt to water down the 2nd Amendment with foolish gun control measures.

By comparison, Bain Capital resulted in no known deaths and no attempt by government to subvert an important Amendment to the Constitution.

Thus it should be perfectly clear that the correct answer to the question, "More Egregious: Bane of Bain, or 'Fast and Furious'? is:

Forget Four More Years! We need change now! ESR

© 2011 John W. Lollpop





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