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From Government, Legal and Policy - Government

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Bain Capital Complaint Really Politics Of Liberal Attack Ads

Wed, 6 Jun 2012 12:04:32 EST

According to James Smith, Staff Writer at News Eagle 360: "Mitt Romney's career as a business investor is being trumpeted by President Obama as the only reason a thinking person needs to vote against the Republican. The president calls Romney's years as CEO of investment firm Bain Capital a prime example of capitalism's negative impact on working people.'

Romney Camp Responds To Attack Ads On Bain Record

"While polls are mixed on the popular reception of Obama's complaint, early indications must be discouraging for the president. Instead of rallying the president's supporters, the Bain criticism immediately brought pushback from high-level Democrats who are presumed to be in the Obama camp,' noted Smith.
For example, former president Bill Clinton called Mitt Romney's business career 'sterling,' and suggested the anti-business rhetoric Obama unleashed was unhelpful. Democratic Mayor Cory Booker of Newark, NJ, responded by praising Bain's record. Massachusetts Gov. Deval Patrick, also a Democrat, called Bain Capital 'a perfectly fine company.'
According to Smith: 'None of these respondents are ordinary 'working people' as loosely defined by the Obama campaign, so the relevance of their remarks about Romney will be disputed. Still, the public defense of Bain by such prominent Democrats was not the media play the president's campaign team anticipated. Whether the Bain capitalist theme will be modified or dropped by presidential advisors depends on how much traction they believe it can develop between now and November.'
"The core of the Bain criticism is the thing called risk. To succeed, a capitalist invites risk, including the risk of having to lay off good employees during a business down cycle, the risk of personal financial loss—possibly having to endure the long-term recovery condition known as bankruptcy—and the risk of being rhetorically slammed if he enters politics. Democrats of this era are more risk averse in their policy positions, believing that it is a central role of government to mitigate, if not entirely eliminate, any chance that workers will lose their jobs for the sake of a company's profits,' said Smith.

Election Coverage For 2012
"Embracing or rejecting this core element of doing business is a foundational difference between the philosophies of Mitt Romney and the president, as well as of the parties they represent. Consequently, the campaign is apt to revisit the issue, whether or not Bain is subsequently mentioned. Voters will face a genuine philosophical choice on Election Day,' noted James Smith of News Eagle 360.

Source: WebWire

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