Fiscon Identity Politics


images3.jpg“I would also suggest that one needs to look very carefully at exactly what the business record is,” Huckabee said.”If it’s taking companies that are in serious trouble, buying them when they are in pain, selling off their assets, then making huge profit off of it then that’s not something a lot of Americans can relate to, except those that have lost their jobs because of those kind of transactions.If that’s the turnaround then there are a lot of Americans who do not want to see their lives turned around like that.” source

Before taking a morning jog in Ft. Lauderdale, Mike Huckabee’s remarks regarding Mitt Romney’s business record drew a very sharp distinction between the vision of conservatism espoused by Wall Street Republicans and Main Street Republicans. It is a distinction drawn previously by both Huckabee and Duncan Hunter, and one that has come into increasing focus as the economy emerges as the top issue in the campaign.

Ironically, it is the success of the Bush national security policy, and the counter-insurgency strategy in Iraq that has diminished the war and national security as the primary focus of the campaign. But, if the economy is Romney’s supposed strong suit, a closer look at his record in the private equity business is warranted.

romney3.jpg …as the leader of private equity firm Bain Capital from 1984 to 1999, Romney’s record shows that while some of the firm’s investments helped companies grow, others ended in thousands of layoffs, and in some cases, bankruptcy.

Layoffs are a common result of private equity takeovers, with Bain Capital no exception….

Companies such as office supplier Staples Inc. and pizza company Domino’s were successful Bain investments under Romney.

But medical test maker Dade Behring, circuit board maker DDi, American Pad & Paper and auto parts company Cambridge Industries are among the companies that went bankrupt after Bain invested in them with Romney at the helm….

The private equity model is built on loading companies up with debt — which can ultimately prove too heavy a load for the business, as was the case with DDi.

Bain invested $46 million in DDi in October 1997 and later sold shares worth at least $93 million, according to a report by the Orange County Register newspaper. The Anaheim, California, company ultimately went bankrupt, laying off 2,100 employees. source

“It always makes sense to fight for every single good job.”

This was Mitt’s campaign rhetoric in Michigan and SC. It makes perfect sense for a candidate for President to say this.

But, if this had been his attitude as a businessman, this is certain: He would not have amassed the personal fortune that is financing his run for the Presidency, and thousands of “good jobs” at DDI, American Pad and Paper, Cambridge Industries, and others might still be around.

It does help to explain, however the club for growth’s enthusiastic support for Romney, despite his less than sterling fiscal record as governor of Massachusetts — he’s one of their own.

“his support for broad-based tax cuts in liberal Massachusetts together with his enthusiastic embrace of the Bush tax cuts on the campaign trail offers hope that Governor Romney’s previous ambivalence on tax policy is more a function of Massachusetts politics than his core beliefs.”

Ah yes. hope!

The fiscal record of Romney is somewhat similar to Huckabee. They both governed Democrat majority states as pragmatic conservatives. But Romney comports himself as a fiscon, so establishment Republicans give him a pass, and praise his record as offering hope.

He’s one of their own. More “identity politics?”

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68 Responses

  1. It had never occurred to me, to examine his business background.
    Interesting.
    We used to use the term “corporate raiders” years ago, and I fail to see the difference, now.

  2. Very interesting indeed. I’m not sure if I’m altogether anti private equity. My feeling’s that companies being “sucked dry” by these funds were never in great shape in the first place. But in any case, campain slogans referring to “fighting for every job” won’t help Mr. Romney, I suppose…

  3. John Edwards: Losing Ugly. From Charles Krauthammer.

  4. The “identity politics” pejorative has been bandied about by Rush, National Review, The American Spectator, Wall Street Journal, and others.

    Naturally, it only applies to conservative Christians believing that Huck’s campaign is a credible alternative to the “politics as usual” gang.

    I understand that the Fair Tax is a radical idea. It is a wholesale change – – a watershed moment for financing the operations of government.

    I also understand that the business as usual gang abhors change, and wants to preserve the status quo with a fiscally pliable candidate of their choosing. They want a candidate that is like themselves. One of their own. Identity politics, pure and simple.

  5. Just DAMN. Huckabee’s idea for turning around the economy in the debate was putting an extra 2 lanes on I-95 to Maine.

  6. That’s from Florida to Maine.

  7. Hell, why not just put illegal aliens to work paving the extra 2 lanes of I-95 until Mexico comes up with their airplane fare back to Mexico?

    A national unemployment rate of 5% is full employment.

  8. I didn’t take that as his plan per se, Swampie, I took his meaning to be capitol projects for example, actually create money, whereas this alleged government bail-out is nothing more than a handout, which future generations get the bill for. I was surprised, and pleased, that he was the only one to voice his disapproval of this BS handout plan for $150billion.

  9. Good story on Rather, Robert D, I don’t think I ever heard about that, til now.

  10. First I’ve heard about it too. I kind of skimmed past it a couple of times, then the 20 yr. thing hit me. Ole danny boy sure hates the Bush’s, don’t he.

  11. He sure must now.
    He got his ass handed to him in a dixie cup twice, by the father and then the son.

  12. Well, at this point, the only one in any position to influence the packet is McCain and not only has it not passed a house vote, it has yet to reach the Senate and Harry Reid is already talking about expanding it. The congressional Republicans only supported a very narrow stimulus bill, so we shall see what happens on that.

  13. SwampMan just informed me that if I want the engine and transmission rebuilt in the ol’ Blazer, I have to do it myself.

    That ain’t right.

    Guess I won’t be goin’ to ogle Russell Crowe tomorrow after all.

  14. Sounds like we need another ground swell of conservative voices to put a halt to this overly self-stimulating I package, like we did with immigration reform.
    Like I said, Mike was the only one that spoke out against it, all the others were mealy-mouthed about it, cause they know it is a golden opportunity in an election year. Government giving away free money…for nuttin’!

  15. No, that ain’t right.
    I don’t blame him about the tranny one bit, though. I ain’t never tried, nor think I ever will, unless one day I had an old buggie sitting around, and I wanted to see if I could. Especially if it is an auto.

  16. Sigh. Well, I suppose if I was out there to take it all apart and put it all back together again, if something went kerblunky on it, I’d at least know how to repair it.

    I think he’s still mad about that sparkplug thing with his truck.

  17. I bought a 350cid chevy long block at Kragen for $850 a few years back. (well, like 10). But still, that’s the only way to rebuild.

  18. Well, I was kinda lookin’ for a little more fuel economy. I want to ditch the automatic trannie, too.

  19. Kinda picky, aincha? 😛

  20. This is gonna be a vehicle that I want to take to camp sites, archeological digs, maybe a little gold panning and wandering around out west in the summertime (if I sell the livestock, that is).

    Speaking of livestock, I dreamed last night that one of the ewes had twins and abandoned them; I found them weak and chilled. One looked like a tiny French poodle.

    Whenever I have a dream about a difficult lambing with lambs dying, it always happens a few days later regardless of the precautions I take. I woke up before I knew the outcome of those lambs. Not sure if it is some sort of actual precognition, or if there is something subtly wrong about the ewe that my conscious mind doesn’t register but the subconscious mind does.

  21. Rebuilding an auto tranny is tricky. All kinds of tiny little BB type valve checks, that can fall out, get moved, etc. You not only need the tools and the proper work bench, but the knowledge of where all those little thingies go.
    Converting to a manual is easy, except for the fabrication work required to make room for the shifter and the pedals, which you will have to buy and mount…properly.
    If the motor is going bad, it may be time to visit a dealer.

  22. It is a cold, showery night for lambs to be born; the ground is wet. The lambs would be better off being born during below freezing temperatures if it were dry without the wind blowing.

    This is a young ewe that hasn’t lambed before and is as wild as all get out because I haven’t handled her. I haven’t been able to catch her to put her in with the other expectant mommas so she could get a little extra feed without having to fight the boys for her place at the feed trough.

  23. At least you ain’t dreaming about baby manatees.

  24. Sounds like frequent critter checks are in order.

  25. SwampMan and SwampSon used to change out transmissions and engines on the 1-ton trucks overnight so they’d be back on the road in the morning. SwampSon fabricates metal parts all the time so if any parts are needed, he’ll make them (if he’s in town).

    They (SwampMan and SwampSon) have skills. They are just determined that I learn some. I’m very resistant, claiming a mechanical learning disability.

    The ol’ Blazer ain’t my ride, just one resurrected from the bone pile. He had been parked at the barn a couple of years ago with the thought of rebuilding one day and started right up when the battery was charged.

  26. Yeah, fixin’ to do a barn check now to see if everybody is okay. If she’s in there by herself or if the boys are inside and she’s out in the rain I’ll know sumpin’s up.

  27. Dang, it just dropped into the 30s, too. I’m hatin’ this global warming stuff.

  28. The ol’ Blazer ain’t my ride, just one resurrected from the bone pile. He had been parked at the barn a couple of years ago with the thought of rebuilding one day and started right up when the battery was charged.

    Well then, driver til she quits.

  29. Yeah, Gorebal warming sux.
    We almost got to freezing this morning, just barely missed it. Good thing, as it was pouring down rain, and probably more than half of our roadways are elevated or have bridges.

  30. oops, him 😳

  31. On the bright side, we will be in the 60’s tomorrow, and 70’s for a few days.

  32. Snow here til tuesday.

  33. Let me get this straight.
    This ol’Blazer had been just sitting for two years, and without doing anything else, you charged the battery, and it fired right up?
    I ain’t saying you is lying, but at least tell me you drained the bowls of the carb and gas tank, and put in fresh gas, and maybe shot some starter juice(ether) into the carb. Gas turns to varnish when left in a fuel system for an extended period of time.

  34. just perfect…..I try to stop a comment, no deal. I make long post with links and bells and whistles and poof, into the wherever it goes.

  35. Dang.
    It didn’t get caught in the drain filter.

  36. naw, I tried to stop one up above ’cause it didn’t make sense. (i usually don’t notice that quick anyway)

  37. Heh. Bet y’all don’t have live music in y’all’s barn. They’re out there playin’ Pearl Jam tonight.

  38. Nope. Din’t do nothin’ of the kind to it. Was really surprised that it fired up.

    It doesn’t have a carburetor.

  39. I didn’t charge the battery, SwampMan did. For hours. That battery didn’t want to return to life.

  40. Wait…what?
    You got Pearl Jam..in your barn…as we speak?
    Dang!
    Hey, go slap the front man upside the head for me, for being such a BDS dipshit.

  41. SwampMan’s in there laughing. He said to tell y’all that if anybody told him that the Blazer would have started right up and drove to the house without any trouble, he’d call ’em a damn liar. But he wouldn’t trust it driving anywhere before the fuel tank is drained and the fuel system is closely inspected.

  42. Well, see!
    I was just being nice, and showing netiquette, by not calling nobody a damned liar.

  43. I got a bunch of iron workers in the barn playin’ Pearl Jam tunes. (son and friends)

    It sounds like they knocked off at 10 to avoid any disturbing the peace calls.

  44. I’ve told son that his cousin’s fiancee, the electrician, is a damn fine singer. He needs to get him into the band.

  45. You and SMAn gonna call the cops on them…again?

  46. Heh. Nah, but the neighbors might! They’ve got some serious money invested in amplifiers.

  47. How close are those neighbors?
    If they ain’t close enough for their ears to bleed, then screw’em.

  48. Maybe all of the left doesn’t drink the Kool Aid. Bill and Hill have even lost Vanity Fair

  49. I’ll check back in a little while.
    Need a snack, and gonna give Buddy a good brushing, and belly scratching.

  50. heh, I shoot at the rolling boomboxes around here.

  51. I, uh, only thought that they had knocked off. I thought wrong. Right now Mysterious is on the play list.

    I thought the days of the police knocking on my door were gone. Course, some of them are probably in the band. They all went to school together.

  52. Good for you, Robert D.

  53. I don’t want a turbokart, but if you could rig up a TurboLazyBoyKart, that would be my ride.

  54. Just gettin old I guess. (I don’t really shoot, just yell once in awhile)

  55. Heh. Swampman has turned into the very epitome of an ol’ fart.

  56. I wasn’t sure if shooting at rolling boom boxes was strictly legal in California. Don’t you have to be sportin’ the correct gang colors to do that? Otherwise, it is probably a sizeable fine.

  57. Not quite legal in CA, but in Jefferson, well………

  58. There’s gonna be a Fair Tax Rally with Huckabee at the Jacksonville Landing 2 to 4 p.m. Sunday.

  59. Oh dang, I’m all booked up on Sunday.

  60. He almost was a guest at Trinity Baptist Church but a group alerted him that Trinity had a pedophile scandal going on. Don’t know why the kiddie molestors so often end up in churches.

  61. Well, as it happens, so’m I.

  62. I’m getting a lil’ bit tarred here, so I had best be draggin’ myself off to sleep.

  63. The molesters are everywhere. We have This here. It helps a little.

  64. G’nite Swamps. My last comment went to wherever again………………it’ll show up after you’re asleep.

  65. I’ll go stir shiite at another site. 😉

  66. Wow!
    Just Wow!
    I sat down on the floor with Buddy, and got started on a movie I had heard about, and got completely engrossed.
    Facing The Giants.
    I’m not even going to try and explain it.
    Just Wow!
    This is the final scene, the man in the crowd pointing at the coach is the Head Coach of Georgia.
    I highly recommend this for any, but especially those who believe.

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