Mitt Romney — His Past at Bain Is His Bane

We know Mitt Romney has the inescapable and really insoluble problem of running against President Obama as a job creator when he’s destroyed so many jobs.

Benjy Sarlin has an interesting story up at Talking Points Memo, “Republicans Warn Bain Capital Could Cripple Romney’s Campaign.”  It’s worth a read, but here are my favorite quotes:

“If you can make the argument…that this makes him unelectable, then you have fundamentally undermined the rationale of his candidacy,” one unaligned Republican strategist skeptical of Romney told TPM.

Behind the scenes, Republicans opposed to Romney have long whispered that Bain is the candidate’s glass jaw, that it killed his Senate campaign in 1994, that he’s shown no sign he’s learned to handle the issue on a national stage because it’s not a big factor in the Republican primaries.

“I never thought of what I do for a living as job creation,” Marc Walpow, a managing partner who worked with Romney at Bain, told the Los Angeles Times….”The primary goal of private equity is to create wealth for your investors.”

Romney’s Not Right for That Three A.M. Call

In his article “The Romney Economy” for New York magazine, Benjamin Wallace-Wells offers quotes from Mitt Romney’s former Bain Capital colleagues that I found disturbing.  “Mitt was always worried that things weren’t going to work out — he never took big risks. … I think Mitt has a tremendous amount of insecurity and fear of failure,” says one.  “I never viewed Mitt as very decisive,” says another.

To be an effective commander in chief, you have to take risks, conquer your fear of failure, and be decisive.  If Mitt were president now, I think bin Laden, Quadaffi, and al-Awlaki might well be alive, as well as many other terrorists whom President Obama has killed.  My gut feeling about Mitt is that he lacks guts.

The article reinforces my sense that Mitt wouldn’t be any great shakes when it comes to the economy either, unless you’re part of his 1%.  Mitt took over American Pad and Paper (Am Pad), a company that ended up going bankrupt.  Maybe the company couldn’t have been saved.  But what troubles me is that Mitt and his investors ruthlessly plundered over $100 million from Am Pad as it lay dying.

Capitalism is about creation and destruction.  Steve Jobs created the iPad, Mitt Romney destroyed Am Pad.  We need leaders like Jobs, not Mitt.