Rallying Around Romney

You can set your watch to the predictability of the GOP and so-called Conservative Establishment response to events in real time. They do not call in SEAL Team 6 to take out the opposition in the dead of night. They do not lay siege nor seek a policy of containment. No, they seek to destroy by carpet bombing the opposition. In this case, they seek to destroy Newt Gingrich.

I am not a Gingrich supporter but these attacks may make me one by default.

We are treated to anecdotal stories of what Gingrich has done in the past. Many of them are true and many of them are distortions and lies. Gingrich is, by all accounts, a complicated and flawed man. Gingrich has been vetted time and time again. He is a known commodity.
However, what those who attack Gingrich fail to do is vet Romney. We are treated to constant hysterical cries of “he’s the real conservative” and “a vote for Newt is a vote for Obama”. Who is the real Romney?

Is he the same guy who had no ethical issue when he sat on the Board of Staples when Staples decided to buy another Bain business, Claricom Networks, that eventually went bankrupt; per the Boston Globe in 2002?

According to the Globe, Bain did well in the $140 million deal. So did Romney, earning about $100,000 from his share of the profits. Staples shareholders did not: The transaction was written off as a total loss two years later, after the telecom boom went bust. “Inasmuch as he took the profit in the transaction, ethically he was a transgressor,” said Robert Ash, a lecturer on business ethics and former chief executive of Fleet Investment Management.

Is Romney the same guy who eventually drove Dade Behring into bankruptcy?

According to Forbes, Romney conducted a turnaround of Dade beginning in 1994, which sucked the company dry. The turnaround worked out well for Romney and Bain Capital: it extracted $242 million, a return that was eight times its initial investment, plus fees of $100 million. The process worked out less well for others: it drove the company into bankruptcy in 2002 and destroyed some 1,700 jobs in the USA.

According to the NY Times, Romney structured the deal in ways that almost guaranteed that he and his partners would come out ahead. Bain Capital and a small group of investors, including Goldman Sachs, bought Dade in 1994 with mostly borrowed money, limiting their risk. Bain extracted cash from the company in various ways. For a start, they paid themselves nearly $100 million in fees, first for buying the company and then for helping to run it. In this way, even if Romney and his colleagues had lost their entire investment of $30 million, they would still have come out ahead. In 1999, in the absence of a satisfactory offer for the purchase of Dade, Romney had Dade take on loans so that it could buy out half the shareholders. As a result, Bain extracted $242 million out of the business shortly before it went bankrupt.

Is Romney the same person who utilized shell companies in two offshore tax havens to help eligible investors avoid paying U.S. taxes?
According to the LA Times, Romney gained no personal tax benefit from the legal operations in Bermuda and the Cayman Islands. But aides to the Republican presidential hopeful and former colleagues acknowledged that the tax-friendly jurisdictions helped attract billions of additional investment dollars to Romney’s former company, Bain Capital, and thus boosted profits for Romney and his partners.

Are the defenders of Romney going to explain his abysmal record as Governor of MA? Are they going to explain to us how these acts of Romney constitute the acts of a Conservative?

Romney’s tenure as Governor:

– Romneycare (after 30+ years of the Democrats trying to pass it)
– Cap & Tax (Romney bragged: “Massachusetts is the first and only state to set CO2 limits on power plants.”)
– single highhandedly allowed Gay Marriage
– gave Planned Parenthood 5 Billion to build abortion clinics
– gave $50 abortions through Romneycare
– forced Catholic hospitals to give out birth control
– Planned Parenthood placed on Oversight Committee
– one of tougher gun laws in country made permanent and vague
– 3/4 of judge appointments Democrat or agenda-driven Independents (Romney bragged: “I have not paid a moment’s notice to nominee’s political leanings.”{–David Souter …. come on down})
– ensuring sanctuary cities get state aid (Shh …. Don’t tell Ann Coulter)
– Raised taxes from 9.3% to 9.9% overall over his time
– Doubled corporate tax rate
– 100s of new “sin” taxes, consumption taxes and carbon taxes (including increasing gas tax, internet sales tax, tax on hunting licenses, etc)
– so much regulation, state only saw 1.4% growth while the Country as a whole witnessed 5.4% over the same time
– 47th in gob creation
– State budget up 37.5%, from $23,011,620,000.00 to $31,649,416,000.00, leaving a Debt per Capita of over $15,000.

Romney received less votes in 2002 than Reagan did in 1980 and 1984. Then again, he never ran as Reagan or as a disciple of Reagan. He did not govern as Reagan. He did not stand up for conservative values. Even George Soros admits, there is very little difference between Romney and Obama. It is time for the Gingrich detractors to start proving Romney is a true conservative. If not, the Specter of 1964 awaits.

Perhaps, it isn’t too late for the Gingrich detractors to get behind the candidacy of Frank Lorenzo, Carl Icahn, or Lucky Luciano. The crack-up continues.

Spartan

Advertisements

4 thoughts on “Rallying Around Romney

    • Sheesh, after the onslaught of articles putting down Newt and his anger showing in tonight’s performance (I have yet to have seen an actual debate) he’ll be going full out Newtron before long and baby Mittens will be become the Little Prince but never make it to the throne.

    • If you missed out on your chance to vote for Nelson Rockefeller, here is your chance to vote on the next best alternative; Mitt Romney. As for Santorum, I will paraphrase the great Reg Murphy; Rick Who Is Running For What?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s