Bain Capital

[Yonivore]

“So to repeat, this is not a distraction. This is what this campaign is going to be about.”

-- President Obama at a press conference in Chicago when asked about the misgivings of his fellow Democrats over attack ads his campaign is running against Republican Mitt Romney’s work as the CEO of private equity firm Bain Capital.

Democrats of all stripes -- From Commie Van Jones to moderate Democrat Cory Booker -- are taking exception to Obama's attack on Bain Capital. So, why did he double down by saying the above?

His first Bain ad talked about a steel company that was shut down after Romney left Bain but, while a major Obama bundler (now head of Bain Capital) was there.

His second Bain ad talks about an office supply or paper company that was bought by a Bain company AMPAD and shut down; AMPAD was and is run by another major Obama campaign contributor.

No wonder Booker and Jones, among others, are WTFing over his attacks.

[Yonivore]

http://www.mediaite.com/tv/president...will-be-about/

The President explained that maximizing profits is a healthy part of free enterprise, but isn’t always good for everyone. “That’s part of the role of a lot of business people. That’s not unique to private equity, and… There are times where they identify the capacity for the economy to create new jobs or new industries. But understand that their priority is to maximize profits, and that’s not always going to be good for communities or businesses or workers.”

Exactly how is what Bain did any different than what Obama did with GM? How many dealerships were closed and their workers put out on the street because of that takeover?

[TeyshaBlue]

Exactly how is what Bain did any different than what Obama did with GM?

Hmmmm....you can figure this out if you really try.

[ChumpDumper]

Exactly how is what Bain did any different than what Obama did with GM? How many dealerships were closed and their workers put out on the street because of that takeover?

Tell us how many.

[EVAY]

Since all of Romney's campaign rivals for the nomination talked incessantly about his Bain capitalist days (including the upstanding Governor of this great state) I think that you can count on hearing about it in the same vein from now until November, complete with clips from Gingrich, Santorum, Perry and Palin.

[TeyshaBlue]

Tell us how many.

I suspect infinitely less than a unmanaged bankruptcy.

[Yonivore]

Hmmmm....you can figure this out if you really try.

Well, other than use tax dollars to prop up a failing business.

[boutons_deux]

Romney Surrogate: Romney’s Experience At Bain Is ‘Fair Game’

http://thinkprogress.org/politics/20...ain-fair-game/

[TeyshaBlue]

You're only looking at the front end. Now, look at the back end.

[boutons_deux]

Bain and Financial Industry Gave Over $565,000 To Newark Mayor Cory Booker For 2002 Campaign

Yesterday, Newark, New Jersey Mayor Cory Booker (D) attacked the Obama campaign for making an issue of Mitt Romney’s tenure at Bain Capital during an appearance on Meet the Press. While the progressive leader later backed off the criticisms, Republicans have been quick to highlight his comments as an attack against the idea that scrutiny of Mitt Romney’s record as a businessman is fair game.

A ThinkProgress examination of New Jersey campaign finance records for Booker’s first run for Mayor — back in 2002 — suggests a possible reason for his unease with attacks on Bain Capital and venture capital. They were among his earliest and most generous backers.

Contributions to his 2002 campaign from venture capitalists, investors, and big Wall Street bankers brought him more than $115,000 for his 2002 campaign. Among those contributing to his campaign were John Connaughton ($2,000), Steve Pagliuca ($2,200), Jonathan Lavine ($1,000) — all of Bain Capital. While the forms are not totally clear, it appears the campaign raised less than $800,000 total, making this a significant percentage.

He and his slate also jointly raised funds for the “Booker Team for Newark” joint committee. They received more than $450,000 for the 2002 campaign from the sector — including a pair of $15,400 contributions from Bain Capital Managing Directors Joshua Bekenstein and Mark Nunnelly. It appears that for the initial campaign and runoff, the slate raised less than $4 million — again making this a sizable chunk.

In all — just in his first Mayoral run — Booker’s committees received more than $565,000 from the people he was defending. At least $36,000 of that came from folks at Romney’s old firm.

http://thinkprogress.org/election/20...2002-campaign/

=======

... explains why Booker is defending Bain and Gecko.

[boutons_deux]

http://www.mediaite.com/tv/president...will-be-about/


Exactly how is what Bain did any different than what Obama did with GM? How many dealerships were closed and their workers put out on the street because of that takeover?

ideology make Yoni, WC, etc totally blind.

false eqivalence

Bain is a LBO predator buying into companies for the overwhelming objective of making money for the private equity investors. They don't give a shit about jobs or anything else, JUST MAKING MONEY.

Now, how much did Obama make from taking over GM and Chrysler, AND how many jobs were saved?

Gecko says his predatory capitalist experience raiding/asset stripping companies qualifies him as business expert and to run the US economy. He would destroy Ms of jobs to make money for Wall st, etc. So his self-proclaimed qualifications and career are 100% fair game.

[CosmicCowboy]

If attacking Capitalism is what his campaign is all about then I say bring it on...

[boutons_deux]

Gecko has nothing else to run on but Bain predations.

He has essentially disowned Massachusetts universal health care

He can't run on his job creation in Massachusetts because, like dubya, he essentially didn't create any jobs.

He can't run on Repug successes of 2000-2008 because they're aren't any. He call dubya "Obama's predecessor"

Gecko, like dubya, is a privileged non-entity, inarticulate, blatant liar/slanderer, empty man.

[boutons_deux]

If attacking Capitalism is what his campaign is all about then I say bring it on...

false equivalence

LBO predators DO NOT EQUAL capitalism

[TeyshaBlue]

Bain did handle venture capital as well, boutons.

[Yonivore]

If attacking Capitalism is what his campaign is all about then I say bring it on...

Even Politico -- while trying to spin this as a positive -- is scratching its head.

Obama's Bain mutiny

Buried in the article...

One prominent business official, who asked not to be identified, put it this way: “It’s demonization of capitalism. And that makes a lot of Democrats uncomfortable and Cory Booker’s one of them. … I think that anybody with half a brain knows that the story is far more complicated and, in fact, Bain and private equity generally have made some positive contributions.”

“You know, they’re known as a very good company,” one Democratic operative said of Bain. “[They] help a lot of businesses around the country. Smart Dems don’t want to be anti-business.”

[ChumpDumper]

If attacking Capitalism is what his campaign is all about then I say bring it on...

lol talking point

[ChumpDumper]

Even Politico -- while trying to spin this as a positive -- is scratching its head.

Obama's Bain mutiny

Buried in the article...

Ooohhh, unidentified business official.

Sick burn!

[Yonivore]

Ooohhh, unidentified business official.

Sick burn!

Van Jones, Cory Booker, Ed Rendell, and Mark Warner aren't unidentified.

Hey, it's Politico -- not exactly a bastion of conservative ideology.

[Yonivore]

Yeah, I'd say there's trouble in Lib City...

Spittle-flecked Chris Matthews is calling Booker a traitor.

MSNBC host Chris Matthews heavily criticized Cory Booker's defense of private equity as "an act of sabotage" and "betrayal" of President Obama.

"Whatever the intention was, he was trashing the entire Obama campaign of the summer in one appearance on 'Meet The Press,'" Matthews charged.

"Booker, supposedly a surrogate for President Obama — comes on the show listed as a surrogate, points out he's got surrogate notes in his hand, says he's been working as a surrogate — and then trashes the entire campaign by saying there's really nothing wrong with private capital."

If PrezBO is going to make Bain Capital the make or break issue of his campaign, it might behoove him to get everyone on board first. No?

[boutons_deux]

Newark Mayor Cory Booker ‘very upset’ he is being ‘used by the GOP’



http://www.rawstory.com/rs/2012/05/2...=Google+Reader

[Yonivore]

Newark Mayor Cory Booker ‘very upset’ he is being ‘used by the GOP’



http://www.rawstory.com/rs/2012/05/2...=Google+Reader

Boo fucking hoo.

But, I think "very upset" isn't quite as visceral as "nauseated."

And, in reading your article, it seems Booker is mad at the GOP for only talking about his betrayal of the Obama talking point. But, if you look, the GOP has no interest in what Booker said about anything else.

His Bain quotes weren't misconstrued or taken out of the context of his comments about his disgust over the attacks the Obama campaign was launching.

I don't know how it's being portrayed on the Left but, his walk back video is being called a "Hostage Video" on the Right because of all the obvious edits. I wonder if anyone has been able to decipher his eye blinks.

[Spurminator]

If Bain Capital represents the essence of capitalism, then hail fucking Karl Marx.

[ChumpDumper]

Van Jones, Cory Booker, Ed Rendell, and Mark Warner aren't unidentified.

Hey, it's Politico -- not exactly a bastion of conservative ideology.

Nobody knows any of these people.

[TeyshaBlue]

If Bain Capital represents the essence of capitalism, then hail fucking Karl Marx.

strawish. Bain is what it is...a mix of undesirable and desirable elements of capitalism.

[MannyIsGod]

strawish. Bain is what it is...a mix of undesirable and desirable elements of capitalism.

Oh, I don't disagree with your second part of the comment but there's nothing strawish about his comment, IMO. CC made the argument so Spurm didn't have to set it up.

[Yonivore]

Ten ways you know the Bain attack is bombing

[ChumpDumper]

Ten ways you know the Bain attack is bombing

Well, when right-wing bloggers whine about it, it's probably working.

[TeyshaBlue]

Oh, I don't disagree with your second part of the comment but there's nothing strawish about his comment, IMO. CC made the argument so Spurm didn't have to set it up.

Whoops...my bad. I cruised right past CC's set up.

'pologies, Spurminator.

[Marcus Bryant]

Bain Capital never did anything wrong, or at least antithetical to the advancement of employment in this country.

Cory Booker is now a mere pawn for publicly criticizing the campaign which cravenly solicits support from the financial class it disparages in election season but supports otherwise.