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Romney likens work at Bain Capital to Obama’s auto industry bailout
The Hill ^ | 01/11/12 | Jonathan Easley

Posted on 01/11/2012 7:40:30 AM PST by Qbert

On the heels of his decisive victory in the New Hampshire primary, Mitt Romney took the attacks on his private sector record used by GOP rivals and turned them against President Obama.

Romney’s critics have accused him of destroying jobs in order to increase profits for his investment firm, Bain Capital, but speaking Wednesday on CBS, Romney said that what he did was no different from the Obama administration’s auto industry bailouts.

“In the general election I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business,” Romney said Wednesday on CBS.

President Obama has publicly touted his plan to “retool and restructure” the auto companies as “an investment in American workers.” Romney was strongly opposed to the auto bailouts, but on Wednesday likened the president’s strategy to his own. “We also had the occasion to do things that are tough to try and save a business,” he said.

Bain Capital, Romney’s former firm, specializes in providing financial and management advice, often taking over distressed companies, which in some cases results in closed businesses or massive layoffs.

Romney contends that the companies Bain turned around more than make up for the layoffs, and that he helped create more than 100,000 jobs during his time there, a figure his critics contest.

Newt Gingrich and Rick Perry spent the days leading up to the primary assailing Romney for his time as an executive at Bain Capital, calling him a “vulture” capitalist and framing the firm as an unethical institution that “undermined capitalism.”

“We expected President Obama to put free enterprise on trial and to continue his rhetoric of envy and class warfare,” Romney said on MSNBC. “We’re a little surprised to see it coming from Speaker Gingrich and others, but you know, if campaigns aren’t going well people try new tacks, I don’t think it worked last night in New Hampshire, I don’t think it will work in South Carolina.”

Gingrich has himself been criticized, most prominently by influential conservative radio host Rush Limbaugh, for waging attacks on Romney that his critics say are liberal, anti-capitalist arguments that will be adopted by the Obama campaign.

On Tuesday, the New Hampshire primary runner-up Ron Paul surprisingly came to Romney’s defense, saying Perry and Gingrich sounded “like Democrats” with their attacks.

“It is strange, those that are calling themselves true conservatives ended up attacking venture capitalism and capitalism in general,” Romney continued. “It suggests a bit of a desperate time for some campaigns.”

(Video at link)


TOPICS: Front Page News; News/Current Events; Politics/Elections; US: South Carolina
KEYWORDS: bailouts; bailouts4romney; bain; bainandcompany; baincapital; dnc4romney; fascism4romney; iag4romney; obama4romney; pandering; romney; romney4obama; romneyequalsobama; romneyforobama; romneyisobama; sharia4romney; soros4romney; tarp4romney; vulturecapitalism; vulturefund
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"Romney likens work at Bain Capital to Obama’s auto industry bailout"

This is just wrong on so many levels.

1 posted on 01/11/2012 7:40:34 AM PST by Qbert
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To: Qbert

“In the general election I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business,” Romney said Wednesday on CBS.
_______________________________________________

what an idiot..


2 posted on 01/11/2012 7:42:15 AM PST by Tennessee Nana
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To: Tennessee Nana

I had just been steeling myself to stomach his nomination. Now I have to start all over again.


3 posted on 01/11/2012 7:46:04 AM PST by rightwingcrazy
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To: Qbert
“In the general election I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business,” Romney said Wednesday on CBS.

"Oh, he DID NOT say that!"


4 posted on 01/11/2012 7:46:15 AM PST by COBOL2Java (Virginia GOP: Romney's favorite butt boys)
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To: Qbert
Wednesday likened the president’s strategy to his own. “We also had the occasion to do things that are tough to try and save a business,” he said.

Fine by me if Mitt wants to take that approach. The GM bailout was a debacle. GS Industries went bankrupt and one reason was poor management.

All he's showing is both are failures at the executive level.

5 posted on 01/11/2012 7:46:35 AM PST by edpc (Wilby 2012)
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To: Tennessee Nana

I can think five ways off the top of my head that even a moronic clown like Obama would destroy Romney with this dopey analogy.


6 posted on 01/11/2012 7:47:00 AM PST by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: Qbert

The great Conservative Capitalist willard has spoken.


7 posted on 01/11/2012 7:47:01 AM PST by Leep
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To: Qbert
So in his own words Romney is just like Obama. I had figured that out already, I hope the rest of the conservatives out there who claim that Romney is acceptable start to get their wake up call from this.

I will not vote for Romney. If he is the nominee I will vote third party and count on conservatives in the House and Senate to keep Obama in check and minimize the damage. I'm throwing my vote away, but I would rather throw it away than have it used against me. I may not be able to stop the Romney lead destruction of our country, but I will be damned if I will help it along.

The only difference between Romney and Obama is that when Romney destroys the country the conservatives will get the blame. At least with Obama when the country burns the Democrats take the heat. And the conservatives get to be in charge of rebuilding. It is a crappy conciliation prize, but way better than the alternative.
8 posted on 01/11/2012 7:48:02 AM PST by GonzoGOP (There are millions of paranoid people in the world and they are all out to get me.)
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To: Qbert
"Romney likens work at Bain Capital to Obama’s auto industry bailout"

LOL. Thanks Mitt for cutting out the legs from all of the people who have been supporting you against Newt's Superpac attacks.

Closing question, does this mean that Romney thinks his tenure at Bain involved crony capitalism of the sort Obama practiced with GM?

9 posted on 01/11/2012 7:48:27 AM PST by vbmoneyspender
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To: Qbert

The attacks on Romney in regards to Bain are being portrayed by the Romney lovers as a left wing attack on capitalism.
BS

Romney used Bain to raid workers pension funds then stuck the government (US taxpayers) with the bill. If criticism of that is anti-capitalist then I guess I am not a capitalist.

Go Newt!


10 posted on 01/11/2012 7:50:37 AM PST by TexasFreeper2009 (Go Newt!)
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To: Qbert
You are so right! What a dolt!

A better approach would be to say what he did at Bain is what he will do to the DOE and others. Cut, and eliminate useless underperforming agencies, which will inevitably lead to many in government losing their jobs. Sometimes it just has to be done...

11 posted on 01/11/2012 7:54:26 AM PST by Anti-Hillary
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To: Tennessee Nana

yea just like he says...he is pretty much like nobama...what a loser in the making!


12 posted on 01/11/2012 7:54:46 AM PST by ldish (Looking forward to Independence Day)
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To: Qbert

I won’t vote for Romney, but if he gets elected, I hope he is as good at firing employees as he was at Bain. He may just balance the budget.


13 posted on 01/11/2012 7:54:46 AM PST by Daveinyork
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To: GonzoGOP

"So in his own words Romney is just like Obama. I had figured that out already, I hope the rest of the conservatives out there who claim that Romney is acceptable start to get their wake up call from this.

Yep. I swear, this is candidate McCain's "Obama's sure a fine fellow, and he'll make a good president" all over again...

We need a Conservative fighter up there- not a cheap, defensive panderer like Rombot.

14 posted on 01/11/2012 7:55:51 AM PST by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: Qbert

Oh my !!

How does he think this helps him????


15 posted on 01/11/2012 8:01:17 AM PST by Reagan69 (I supported Sarah Palin and all I got was a lousy DVD !)
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To: Qbert
"“It is strange, those that are calling themselves true conservatives ended up attacking venture capitalism and capitalism in general,”

They aren't attacking capitalism in general. And they aren't attacking venture capitalism, except to say that it's not the capitalism experience of building and employing, that you want in a Presidential candidate. They aren't saying what he did was wrong, just that the experience is not the normal breed of capitalism.

16 posted on 01/11/2012 8:03:31 AM PST by DannyTN
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To: Qbert
Hey GOP- good luck in the general running a guy who not only comes across as a spoiled prick, but one willing to fall back on Obama as a character reference.

No wonder McCain endorsed Mitt... 2012 will make the 2008 capitulation campaign look like a slugfest by comparison.

Mr. niteowl77

17 posted on 01/11/2012 8:03:49 AM PST by niteowl77 (Mitt Romney: the horse the GOP elite intends to ride into the abyss. Or is it the other way around?)
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To: Qbert
ROMNEY.....In the general election I’ll be pointing out that (Obama) the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business,”.......President Obama has publicly touted his plan to “retool and restructure” the auto companies as “an investment in American workers.”...(Romney was strongly opposed to the auto bailouts,.. but on Wednesday likened the president’s strategy to his own.)

Please someone help me understand that this isn't Romney supporting Obama????? ..He did say he'd be pointing out Obamas record of saving business????

If this weakling goes further in this Primary we are cooked frogs in a pot!!!! and Obama will turn the heat up even higher.

God have Mercy on all.

18 posted on 01/11/2012 8:06:35 AM PST by caww
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To: Qbert
"Romney likens work at Bain Capital to Obama’s auto industry bailout"
Thank you, Willard. Now everyone who wants to defend Romney by conflating the anti-capitalist activities of Bain Capital with "capitalism" or the "free market" may pour themselves a tall cool glass of STFU.
19 posted on 01/11/2012 8:08:25 AM PST by Timaeus (Willard Mitt Romney Delenda Est)
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To: Qbert
“In the general election I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business,” Romney said Wednesday on CBS.

And now Obumbler can play that clip with the one of Romney saying that we should just let GM go bankrupt.

I agree with letting them go bankrupt, but he can't play both sides of the same issue.

20 posted on 01/11/2012 8:13:26 AM PST by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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