It's one thing to carefully dissect Romney's investments, as the Wall Street Journal did, and weigh his wins against his losses. (The paper found that "in total, Bain produced about $2.5 billion in gains for its investors in the 77 deals, on about $1.1 billion invested. Overall, Bain recorded roughly 50 percent to 80 percent annual gains in this period, which experts said was among the best track records for buyout firms in that era.")
It's quite another to shamelessly disparage those who work in private equities as immoral corporate raiders and avaricious job-killers, as the three aforementioned GOP Occupiers have done. If they keep it up, they'll soon be chaining themselves together with bike locks, performing "mic checks" and "down twinkles" at the next GOP debate.
Gingrich has pushed McCain's profit-bashing line the furthest. Backed by a super-PAC (the very campaign finance vehicle he was whining about last week) flush with $5 million from casino mogul Sheldon Adelson, the vendetta-driven former House speaker accused Romney and a "handful of rich people" of "looting" companies. Channeling left-wing propagandist Michael Moore, Gingrich railed that Bain "manipulate(d) the lives of thousands of other people." Gingrich -- who raked in millions consulting for the taxpayer-subsidized Fannie Mae and Freddie Mac racket -- also served on the advisory board of private equities firm and leveraged buyout experts Forstmann Little.
But, hey, it's only "looting" if it doesn't line your own pockets.
Romney's chronic flip-flopping political career is teeming with reasons for grass-roots conservatives to oppose his nomination -- from his support for racial preferences and government funding of abortion, liberal judges, global warming enviro-nitwittery, TARP, auto bailouts, the Obama stimulus, gun control and, of course, the Massachusetts individual health insurance mandates that presaged Obamacare. But instead of focusing on his long political record of expedience, incompetent non-Romneys have borrowed from McCain's 2008 playbook and thrown wealth creators of all kinds who take risks in the private marketplace under the bus.
With frenemies like these, who needs Democrats?
Michelle Malkin is the author of "Culture of Corruption: Obama and his Team of Tax Cheats, Crooks & Cronies" (Regnery 2010). Her e-mail address is firstname.lastname@example.org. COPYRIGHT 2012 CREATORS.COM
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