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You don't need to watch When Mitt Romney Came to Town to get the basic gist of it:  Mitt Romney founded Bain to buy companies with other people's money, piled debt on the companies to pay Bain's management fees and buy back their investments, then looted and stripped the companies, so they were either sold or ended up in bankruptcy.

As has been the story of the past generation, American workers got screwed.

I have been thinking about how we can leverage this unprincipled fight among lying Republicans to have a more lasting impact, both for the election, and beyond..

First, we need to understand that the people who made this movie hate Romney, but they are as much defenders of the 1% as any Republican, and would happily slash the government programs and jobs programs that help the people in the film.  They are using these real people to hurt Romney, yet they would turn on them in an instant once they served their purpose.

Secondly, the movie is badly made - it is heavy handed; in some cases short on detail, often repeats itself, and was poorly edited so as to leave in some obvious false statements - opening up its credibility to attack.

Yet the point - that predatory capitalist raiders have grown fabulously wealthy stripping American companies of assets and sending jobs overseas is totally correct.

It is important to keep harping on this line of attack.  The reason is that regardless of Romney, it is exposing the entire Wall St. private equity world to scrutiny they do not want.

Romney lost the election to Ted Kennedy in 1994 because Kennedy effectively made the same argument. As Fred Barnes said in the Wall St. Journal today:  

This isn't the first time the Bain issue has been exploited against Mr. Romney. In 1994, he sought Ted Kennedy's Senate seat in Massachusetts, pulling even in polls weeks before election day. Kennedy responded with television spots of workers laid off at a company, American Pad & Paper, once owned by Bain Capital. The ads worked. Mr. Romney lost, 59% to 41%.

But more than that, the 1994 campaign and the fact it raised the issue of predatory capitalism scared the shit out of the Private Equity Firms - so much that they began a campaign to rehabilitate their reputation.

The same dynamic is in play here.  Once the campaigns actually talk about the concrete harm Wall St. does it breaks a political taboo that has been carefully maintained by both parties.

This is why the Wall St. Journal was not at all sanguine about Romney's win - they fear it may have come with too heavy a price says Gerald Seib, the Washington Bureau chief.

New Hampshire is where the Pandora’s box of bitter attacks over his tenure running the Bain Capital private-equity firm was opened

Our job is to make sure the furies released from Pandora's box multiply and spread until the Financial domination of US capitalism is toppled, and we can return to an infrastructure, production based real world economy.

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Comment Preferences

  •  Oh I think Bain Capital needs to be front and (7+ / 0-)

    center all year long! Nice diary!

    "We're here to start a dialog, nothing more. We keep quiet and let the press, the politicians, and the Wall Streeters hang themselves." From a veteran protester in the civil rights days at Liberty Park. h/t to pistols at dawn.

    by mrsgoo on Wed Jan 11, 2012 at 07:36:06 PM PST

  •  I thought it was a pretty good production (6+ / 0-)
    Recommended by:
    RJDixon74135, scribe, Siri, fumie, SaintC, jfromga

    I encourage people to watch the whole thing, if only to see the work of a Republican Super-PAC operation.  Check out the music, the lighting, the images, the workers, etc.  

    Sure it was heavy handed, and repeated itself a little too much.  And of course Newt's backers are still working for the 1%.  But it is still very interesting to see how a Repub shop deals with issues of income inequality and predatory capitalism.

    •  Yes. Repeated itself a little too much for whom? (4+ / 0-)
      Recommended by:
      Siri, DianeNYS, SaintC, jfromga

      Probably not for its intended audience -- Republicans who haven't given this issue as much thought as some of us have, people who've never heard of the Austrian School, maybe haven't even heard of Ayn Rand. Nuance is probably not approptiate for them, at least not at this point. Still, we need to get the conversation started somewhere and this ad just saved us a nice chunk of change.

      Men never do evil so completely and cheerfully as when they do it from a religious conviction. -- Blaise Pascal

      by RJDixon74135 on Wed Jan 11, 2012 at 08:12:46 PM PST

      [ Parent ]

    •  If information is new, it needs to be (4+ / 0-)
      Recommended by:
      SaintC, Siri, gramofsam1, jfromga

      repeated three times to register at all.  If the information has to counteract a prejudice or preconceived notion, the iteration needs to be more frequent.
      The verbiage is important because many people are more influenced by the spoken word than what they see.  I think it's why many of these same people are not keen to read and write.  Reading and writing are visual and tactile skills, the auditory channel to the brain is different.
      We should learn from conservatives and put much more information on the radio.  Obama's weekly videos, for example, should be cut into manageable segments and broadcast on radio stations.

      People to Wall Street: "LET OUR MONEY GO"

      by hannah on Thu Jan 12, 2012 at 03:52:45 AM PST

      [ Parent ]

  •  It is too late to tag Romney with the handle... (2+ / 0-)
    Recommended by:
    Siri, jfromga

    ...Gordon Gekko made famous: "Greed Is Good"?

    Cause goodness knows Romney is the personification of a Gekko-like job cremator, and Bain should be made to wear the consequences of all the jobs and companies they DESTROYED, instead of being allowed to portray themselves as "job creators".

    Crikey - up is down, and white is black for these a**holes...

    For a better America, vote the GOP out of office whenever and wherever possible and as soon (and as often) as possible!

    by dagnome on Wed Jan 11, 2012 at 07:44:13 PM PST

  •  A better movie can be made, but (6+ / 0-)

    1) This movie was made before "I like to be able to fire people."

    2) Not enough is made of the fact that Romney et al. are the people behind the corporations that made money on this.

    The final argument that is not made and must be:

    The money Bain made is taxed at a lower percentage than the money that is made by real work.

    Of course, I envy people like Romney who can make such huge amounts of money and not pay the same percentage of income tax that I do from my little job.

    Mit der Dummheit kämpfen Götter selbst vergebens.

    by MoDem on Wed Jan 11, 2012 at 07:44:28 PM PST

  •  Profound comments... (10+ / 0-)
       New Hampshire is where the Pandora’s box of bitter attacks over his tenure running the Bain Capital private-equity firm was opened

    ^^^
    This, and your response to it below, together, are profound.
    Our job is to make sure the furies released from Pandora's box multiply and spread until the Financial domination of US capitalism is toppled, and we can return to an infrastructure, production based real world economy.

    Wallstreet knows that the mask is off.  They will try to contain this.

    We can't let them.

  •  The Politics of Envy? (3+ / 0-)
    Recommended by:
    SaintC, Siri, jfromga

    Romney has chosen his platform.  He's going to run on class warfare.....the middle class envies the rich.  If you dare question him or any other Republican, you are just plain envious.  

    He introduced the "politics of envy" last night after his victory lap in New Hampshire & again this morning on all the morning shows.

    The country is envious of the rich?  

    No shit, Sherlock

    •  Instinct-driven people are prone to (2+ / 0-)
      Recommended by:
      SaintC, Siri

      becoming obsessive and engage in what used to be called the "seven deadly sins"--deadly because self-defeating:

      wrath
      pride
      gluttony
      greed
      sloth
      lust
      envy

      Romney latching on to envy may just be an attempt to get out ahead of the charge that he's driven by envy of his dad.

      People to Wall Street: "LET OUR MONEY GO"

      by hannah on Thu Jan 12, 2012 at 03:56:46 AM PST

      [ Parent ]

    •  Nope (2+ / 0-)
      Recommended by:
      Siri, jfromga

      We are not envious of the rich.

      We are indignant at the crooks who gained the system to get rich without actually creating value.

      On the Internet, nobody knows if you're a dog... but everybody knows if you're a jackass.

      by stevemb on Thu Jan 12, 2012 at 04:49:44 AM PST

      [ Parent ]

      •  The Top l% Have Seen Their Income Rise.... (0+ / 0-)

        by over 230% in the last 30 years.  The middle class income rise has stagnated at 6%.  That's inequality any way you slice it.

        And now Mitt says "it's not necessary to debate about income equality in this country & it's inconsistent w/ one nation under God."  He said "it's fine to talk about in quiet rooms & discussions about tax policy".

        So speaketh King Romney.  

  •  It will be important to highlight (2+ / 0-)
    Recommended by:
    Lensy, jfromga

    how parasitic profiteers actually destroy American businesses. Mitt is the poster boy for just this type of parasite. The examples of the destruction they leave in their wake can be seen across the nation. We just have to keep pointing them out.

    48forEastAfrica - Donate to Oxfam "Compassion is the radicalism of our time." ~ Tenzin Gyatso, 14th Dalai Lama -7.88, -6.21

    by Siri on Wed Jan 11, 2012 at 08:49:57 PM PST

    •  What we are up against is the meme that says (2+ / 0-)
      Recommended by:
      fumie, Siri

      "It was simply Capitalism" and if you are complaining it means you are a Socialist.

      They'll keep repeating this.

      We have to point out that undercapitalization of a company does not mean 'doomed to fail", and what Romney's company Bain did was to suck all the credit out of the companies IN ORDER TO PROFIT FROM THEIR DESTRUCTION.

      Plain and simple.  Sorry to yell.  But this is important.

      •  they didn't suck credit (2+ / 0-)
        Recommended by:
        tsackton, Siri

        they sucked equity,  the value of hard assets and good ongoing sales,  did public offerings, sold the stock at high prices because there was real assets behind them,  then turned the value of the cash into debt collateral and sucked out the loan proceeds paid into the corporate coffer, sold their stock and left the new investors, the lenders, the workers, and the towns that depended on them bankrupt.  Legalized theft.    

    •  He really should be (1+ / 0-)
      Recommended by:
      Siri

      on the side of occupy wall street, he does a wonderful job of making their case every time he opens his mouth.....even if that isn't his intention.

      It is the heart that makes a man rich. He is rich according to what he is not what he has -Henry Ward Beecher

      by PSWaterspirit on Wed Jan 11, 2012 at 11:05:30 PM PST

      [ Parent ]

    •  Romney the eviscerator. n/t (1+ / 0-)
      Recommended by:
      Siri

      People to Wall Street: "LET OUR MONEY GO"

      by hannah on Thu Jan 12, 2012 at 03:57:28 AM PST

      [ Parent ]

  •  not to mention (1+ / 0-)
    Recommended by:
    Siri

    Mitts link to Clear Channel and of course Rush and friends

  •  Mitt as Bain (3+ / 0-)
    Recommended by:
    SaintC, Siri, jfromga

    Mitt Romney, as "Bain"  is the person Mitch McConnell and John Boehner are trying to sell as a job creator who shouldn't be taxed.

  •  "House of Bain -- the Return of Willard" (0+ / 0-)

    Nonnie?

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