Mitt Meltdown Open Thread

I thought I’d put up an open thread to discuss the ongoing Mitt Shady meltdown–or anything else on your mind. I’m gearing up to listen to Rachel Maddow and Lawrence O’Donnell and I’ll post anything interesting they have to say. If you’re watching or listening too, please join in.

I know you’re already aware that Romney demanded a retraction from The Boston Globe, and they informed him that their story is solid and they’re not backing down. Of course the Obama campaign laughed their asses off at Romney’s demand for an apology from them. Here are some of the latest headlines on the Mitt Shady meldown.

I really like this post by Brian Beutler: Cutting Through The Bain Bamboozlement

Technical questions are, for the moment, dominating the dispute over when Mitt Romney really left Bain Capital. But from my point of view, on the sidelines of this particular story, it all seems much, much simpler.

The reason this issue is in dispute at all is because Mitt Romney wants full political inoculation from anything Bain did between early 1999 and 2002, when he definitely truly left the company. He wasn’t in charge, except in a narrow, technical sense; he’d delegated his duties; Bain’s business practices from that period can’t be hung around his neck.

If you’re not already belly-laughing think about it this way.

For Romney to be truly off the hook politically for the stuff Bain was doing, he’d have to claim not lack of control, but lack of knowledge. And that’s just not going to wash with anyone. He could try going the “I didn’t have even the slightest idea what the company I technically still owned was doing” route, but he’d be marking himself as either dishonest or incompetent.

Here’s a story from The Boston Globe defending their original piece from this morning.

The Romney campaign did not dispute the contents of the documents reviewed by the Globe but insisted Romney had nothing to do with Bain Capital’s operations after he became chief executive of the Salt Lake Organizing Committee.

“The article is not accurate,” Romney spokeswoman Andrea Saul said. “As Bain Capital has said, as Governor Romney has said, and as has been confirmed by independent fact checkers multiple times, Governor Romney left Bain Capital in February of 1999 to run the Olympics and had no input on investments or management of companies after that point.” [….]

But a former SEC commissioner told the Globe that even if Romney did not have his hand in Bain Capital’s day-to-day operations, he was still responsible for them, as the firm’s boss.

“It doesn’t make a whole lot of sense to say he was technically in charge on paper but he had nothing to do with Bain’s operations,” said Roberta S. Karmel, now a professor at Brooklyn Law School. “Was he getting paid? He’s the sole stockholder. Are you telling me he owned the company but had no say in its investments?”

The Romney campaign claimed Karmel is biased, noting that she was appointed by Democratic President Jimmy Carter. Karmel did not donate to Obama in 2008 and has not given to the president’s campaign this year, either.

HuffPo: Mitt Romney’s Own Testimony Undermines Bain Departure Claim.

Romney has consistently insisted that he was too busy organizing the 2002 Winter Olympics to take part in Bain business between 1999 and that event. But in the testimony, which was provided to The Huffington Post, Romney noted that he regularly traveled back to Massachusetts. “[T]here were a number of social trips and business trips that brought me back to Massachusetts, board meetings, Thanksgiving and so forth,” he said.

Romney’s sworn testimony was given as part of a hearing to determine whether he had sufficient residency status in Massachusetts to run for governor.

Romney testified that he “remained on the board of the Staples Corporation and Marriott International, the Life Like Corporation” at the time.

Yet in the Aug. 12, 2011, federal disclosure form filed as part of his presidential bid, he said, “Mr. Romney retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee. Since February 11, 1999, Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way.”

Bain, a private equity firm, held a stake in the Lifelike Co. until the end of 2001, including during the period in which Romney claimed to have no business involvement with Bain entities. Bain had heavily invested in Lifelike, a company that Romney identified personally as an opportunity, in 1996 and sold its shares in late 2001. His involvement with Lifelike contradicts his assertion that he had no involvement with Bain business. His testimony is supported by his 2001 Massachusetts State Ethics Commission filing, in which he lists himself as a member of Lifelike’s board.

WaPo: Mitt Romney faces new round of calls to release tax returns.

For the Romney campaign, the calculation is complex, as his advisers are weighing the benefits of transparency against the potential problems he could face should the documents reveal — or even appear to reveal — that he has gamed the tax code.

For now, Romney’s advisers said that the candidate has been sufficiently transparent and that he has no plans to disclose additional tax filings. But with four months left until Election Day — and the near-certainty that Romney will face questions about his finances in any interviews and in the fall debates — his advisers might be forced to reevaluate their strategy if the issue damages his standing in the polls.

Even some Republicans are describing the Romney position as problematic. Former Mississippi governor Haley Barbour, a onetime party chairman, said this week that he would provide more than two years’ worth of documents if he were in Romney’s shoes.

Strategist Mark McKinnon said the candidate’s reluctance to release his taxes feeds into the Obama campaign’s argument that Romney is hiding something and taking advantage of the system to enrich himself.

The longer Romney stalls, the worse this is going to get. He’s starting to sound like Nixon claiming “I am not a crook.”


Placing bets on which Romney Lie is the Felony Lie

We’ve pretty much seen Mitt Romney take positions on all sides of issues.  We know he lies and repeats lies of others.  You can get away with a lot in the world of high finance these days.  This is especially true for the ways that Romney has conducted business.  He thrives in a world of little to no transparency where lawyers can work their way around just about anything.  Will this be the case for Willard now that David Corn and reporters at the Boston Globe have uncovered contradictory federal filings?  One has to be a lie.  Lying on either the SEC or the FEC form is a felony.  Which agency has the correct information?

Bostonboomer has been doing a lot of heavy lifting on telling us all about Mitt Shady. I had no idea about his dealings, his tenure as governor of her state, or his business as a corporate raider. ( I hesitate to call what Bain does equity capitalism because I have friends in venture capitalism and equity capital firms that create value.  Bain is anathema to them even. ) I had no idea he was such a complete sleaze.  I sent BB this David Corn article at MoJo last night. You can see from the threads last night and this morning that she jumped right on it. The Boston Globe article even goes further with evidence of Mitt Shady having commited felony lying.

In the words of Joe Biden, “this is a big fucking deal”.

There is some really good analysis on this out there today in the MSM including interviews with former SEC and FEC commissioners who believe that one of the filings must represent felony lying.  The deal is that filings made by Bain to the SEC and Romney to the FEC contradict each other on when Romney left Bain Capital.  This date is important for several reasons to the political campaign. It is part of an Obama campaign tactic to hang outsourcing and job loss on Romney.  The Romney defense was that he wasn’t there at the time so it wasn’t him.  Well, that’s what the FEC filings say.  However, that’s not what the SEC filings say.

Which one is the truth and which is the felony lie? This is from Peter Cohen writing for Forbes Magazine.

Why does this matter? It depends on whether the SEC and state filings are accurate. If those filings are correct, then Romney is in a weak position to claim that he had nothing to do with decisions to fire employees working for Bain Capital-controlled companies after 2002.

To wit, consider Bain Capital’s 1993 $24 million investment in GST Steel, a Kansas City, Missouri steel company. During his 2002 campaign for governor, Romney’s opponent pointed out that Bain Capital had profited to the tune of $50 million – after laying off 750 workers at GST.

And Romney replied that he was no longer at Bain Capital when the layoffs happened. But the SEC filings indicate that Romney was Bain Capital’s CEO in February 2001 when GST declared bankruptcy. And Romney made the same “not there then” claim when the Obama campaign raised this example in May 2012.

If the SEC filings are accurate, that means Romney was again in a grey area when he made the claims about GST. After all, if he was CEO and sole owner of Bain Capital in 2002, he would have had a responsibility to his investors to make key decisions about its investments — like whether GST should file for bankruptcy and fire its staff.

On July 11, Bain Capital issued a statement: “Mitt Romney retired from Bain Capital in February 1999. He has had no involvement in the management or investment activities of Bain Capital, or with any of its portfolio companies, since that time.”

To paraphrase Clinton, it depends upon what the meaning of the word retired is.

This is actually a big deal if the SEC filing is wrong because it leaves Romney open to huge lawsuits by buyers of 5 funds supposedly managed by Romney in 2002.  Any prospectus beyond the initial red herring has to have the truth or the SEC will come after you with the wrath of Khan. In the words of John Aravosis: “Romney told the SEC that he remained the firm’s “sole stockholder, chairman of the board, chief executive officer, and president” up until 2002.”

But Romney said in a more recent financial disclosure form that he left Bain in 1999 – so the two federal forms contradict each other, at least one is a lie:

Mitt Romney Public Financial Disclosure Report, Aug. 11, 2011: Mr. Romney retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee. Since February 11, 1999, Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way.

In other words, Romney lied to the federal government either way. Either to the SEC, or in his more recent financial dislocure (sic) forms.  And either one appears to be a felony.

Interestingly, Politico now has up a post echoing what I already wrote, and reaching the same conclusion about a felony.

The Boston Globe article is damning.

Romney has said he left Bain in 1999 to lead the winter Olympics in Salt Lake City, ending his role in the company. But public Securities and Exchange Commission documents filed later by Bain Capital state he remained the firm’s “sole stockholder, chairman of the board, chief executive officer, and president.”

Also, a Massachusetts financial disclosure form Romney filed in 2003 states that he still owned 100 percent of Bain Capital in 2002. And Romney’s state financial disclosure forms indicate he earned at least $100,000 as a Bain “executive” in 2001 and 2002, separate from investment earnings.

The timing of Romney’s departure from Bain is a key point of contention because he has said his resignation in February 1999 meant he was not responsible for Bain Capital companies that went bankrupt or laid off workers after that date.

Contradictions concerning the length of Romney’s tenure at Bain Capital add to the uncertainty and questions about his finances. Bain is the primary source of Romney’s wealth, which is estimated to be more than $25o million. But how his wealth has been invested, especially in a variety of Bain partnerships and other investment vehicles, remains difficult to decipher because of a lack of transparency.

The Obama campaign and other Democrats have raised questions about his unwillingness to release tax returns filed before 2010; his offshore assets, which include investment entities based in Bermuda and the Cayman Islands and a recently closed bank account in Switzerland; and a set of “blind trusts” that meet the Massachusetts standards for public officials but not the more rigorous bar set by the federal government.

Romney did not finalize a severance agreement with Bain until 2002, a 10-year deal with undisclosed terms that was retroactive to 1999. It expired in 2009.

The Corn article at Mojo contains information on Sankaty–also something Boomer’s followed–which is another thread in the Mitty Shady’s dealings.

Sankaty is a story in itself. It was recently the focus of an Associated Press investigation that reported that Sankaty “is among several Romney holdings that have not been fully disclosed” and that there is a “mystery surrounding” Sankaty. Reporting on this Romney entity, Vanity Fairnoted that “investments in tax havens such as Bermuda raise many questions, because they are in ‘jurisdictions where there is virtually no tax and virtually no compliance,’ as one Miami-based offshore lawyer put it.” With Sankaty, Romney was using a mysterious Bermuda-based entity to invest in a Chinese firm that thrived on US outsourcing.

In early 1999, Romney’s investment in Global-Tech expanded again. An SEC report filed on March 25, 1999, stated that Brookside and Sankaty at this stage owned 9.11 percent of the firm’s stock. Romney was still listed as the sole shareholder and president of both Brookside and Sankaty.

By this point, according to the open-to-question account offered by Bain and the Romney campaign, Romney no longer had any involvement in Bain deals. But the series of SEC filings show active Brookside and Sankaty trading in Global-Tech Appliances while Romney fully controlled these firms. The two Romney companies repeatedly changed their ownership stake in this Chinese firm, which was not shy about its dependence on outsourcing. In its 2001 annual report, Global-Tech noted that US outsourcing was essential to its prospects: “Household appliance companies are focusing on their primary strengths of marketing and distribution, while increasingly outsourcing product development and manufacturing…Our ability and commitment to develop new and innovative, high quality products at a low cost has allowed us to benefit from the increased outsourcing of product development and manufacturing by our customers.”

In August 2000, Brookside and Sankaty sold their interest in Global-Tech, according to the SEC documents. With these filings disclosing minimum details about Romney’s investment in Global-Tech, there is no telling how much money he made—or lost—on the deal.

Democrats and the Obama Campaign are wasting no time issuing talking points about this.  The Romney campaign is firing back that The Boston Globe article is wrong and the Obama Campaign cannot hold Romney responsible for all that outsourcing because he was out rescuing the Olympics.  My question to you is if you were 100% owner in a company would you truly, completely ignore it for about 3 – 4 years?  Here’s Harry Reid firing off his salvo.  Needless to say, the rhetoric is getting pretty fierce out there.

Senate Majority Leader Harry Reid (D-NV) said Thursday that new revelations about Mitt Romney’s tenure at Bain Capital mean he’d have trouble gaining Senate approval for pretty much any job.

“He not only couldn’t be confirmed as a cabinet secretary, he couldn’t be confirmed as dog catcher,” Reid told reporters at a Capitol press briefing, in response to a question from TPM. “Because a dog catcher, you’re at least going to want to look at his income tax returns.”

The bottom line remains, however.  These two filings contradict each other.  They can’t both be true. Both agencies will have to investigate.  Also, riddle me this. Who is in charge of the executive branch right now and probably won’t impede or stop these investigations?  Who would probably like to speed them up?

So, my next question is will we have a last minute rescue and nomination of Jeb Bush, Chris Christie, or perhaps, Michelle Bachmann or Ron Paul?  This puts Ron Paul in a very interesting position because his people have been wrangling up enough delegates to try to stage a floor fight anyway.

Even The Business Insider is tut tutting Mitt Shady.

As “Chairman, CEO, and President” of Bain, he damn well would have remained responsible for these decisions. In which case, saying he had “left” and implying that he had no involvement or responsibility whatsoever is highly misleading.

The CEO of a car company may not have input into the decision of what specific cars the company makes or where it makes them (though he or she obviously could if s/he wanted), but this CEO is unequivocally responsible for these decisions.

Similarly, if Romney was CEO of Bain at the time it made the Stericycle decision, as well as the company layoffs and other unpleasant facts that Candidate Romney would like to disown, he certainly was responsible for these decisions.

So, enough with walking a fine line rhetorically.

Here are the questions that the Romney campaign needs to answer:

  • Was Mitt Romney “chairman, CEO, and President” of Bain from 1999-2002 (even if he had physically “left” and was spending 100% of his time running the Olympics)? If the answer is “yes,” then Romney is responsible for what Bain did during that period–full stop.

OR

  • Were the filings submitted to the SEC inaccurate?

The answer to those two questions cannot be “both.”  It’s one or the other.

And if the answer is that Mitt Romney was chairman, CEO, and president of Bain for the years in which he has long tried to disavow any responsibility for what the firm did, the American public has every right to feel misled.

I know what I’ll be doing this week.


Thursday Reads

Good Morning!!

I don’t know if this has anything to do with “Romneycare,” but the news came out yesterday that the average life expectancy in Massachusetts is nearly 81 years!

Life expectancy for people in Massachusetts hit an all-time high in 2009, as the rate of deaths from major killers, such as heart disease and cancer, declined, according to a report released Wednesday by the state Department of Public Health.

Overall life expectancy from birth was 80.7 years in 2009, the most recent year for which data are available, compared with 78.5 years nationally. Since 2000, death rates in the state from stroke, heart disease, all cancers combined, and diabetes have continued to drop.

Deaths from HIV and AIDS have dropped dramatically in recent years. Nearly 1,000 people died in both 1994 and 1995, during the peak of the epidemic. In 2009, there were 124 deaths from HIV and AIDS. The decline, the authors write, is the result of advances in treatment and a reduction in the infection rate.

Life expectancy varied by location. Check this out: in Brookline it was 87 years!

From the Sydney Morning Herald, Melinda Gates tells “How I convinced Bill to give away his millions.”

Imagine for a moment that you are married to one of the richest men on the planet. You have three beautiful children and a $125 million home, complete with an indoor swimming pool boasting underwater speakers and a home cinema. How would you choose to spend your days? Shopping? Lunching? Ah yes, travelling – but to the dirt-poor villages of Bangladesh? The wretched slums of India? To TB wards and Aids clinics to sit with the dying and the ostracised?
Melinda Gates, wife of the Microsoft magnate Bill, flew in from a field visit to Niger and Senegal on Tuesday, and will have risen by 4.30 yesterday morning to conduct meetings and interviews before the real working day begins.
In her capacity as co-chairman of the Bill & Melinda Gates Foundation, she will then join Andrew Mitchell, Secretary of State for International Development, in hosting a family-planning summit for global leaders in London. Together, they will launch a $4 billion fund-raising effort that would deliver safe contraception to 120 million women and girls in developing countries.

The article doesn’t really say how she convinced her husband to become a philanthropist, but there’s some information about Melinda’s early life.

Gates’s conscience was cultivated from an early age. Unlike her Harvard drop-out husband, who was born into a privileged Seattle background, she is one of four children brought up in modest circumstances in Texas, where education was regarded as the holy grail. Her housewife mother regretted not attending college. Her engineer father set up a cleaning business on the side to raise the cash for his children’s education, and as a teenager Gates scrubbed floors to help out.

It’s nice to know that there are some wealthy people who actually want to use their money to help others instead of collecting homes and cars and horses like certain presidential candidates.

Moving from the sublime to the ridiculous, Dick Cheney is holding a fundraiser for Mitt Romney today in his home in Wyoming.

Romney officials have said little publicly about the event, expected to be a high-dollar but low-publicity evening that will give top donors the chance to dine with Messrs. Cheney and Romney.

But the campaign trumpeted the reception and private dinner in an email to potential attendees, telling them that “Jackson Hole is a beautiful summer destination and this will be a memorable event.”

The dinner offers an opportunity to continue a string of fundraisers that have given Mr. Romney an advantage in the money race with President Barack Obama in the past two months.

“The past two months” are the operative words in that last sentence. Despite all the talk of Mitt Romney besting President Obama in the money race, Obama is still far ahead of the presumptive Republican nominee in terms of money collected since the two announced their candidacies. At HuffPo, Paul Blumenthal writes:

According to a report from the Sunlight Foundation, Mitt Romney will need to outraise President Barack Obama by $158 million over the next four months if he wants to take the lead in overall fundraising. This punctures a bit of the new narrative of Romney having passed Obama in fundraising. Sunlight’s Bill Allison: “For Mitt Romney, the magic number is $158 million. That’s how much he’ll have to outraise President Barack Obama over the last four months of the campaign to surpass the president, the record holder for campaign fundraising. Obama’s advantage has been lost in media reports highighting the Republican nominee’s $106 million June haul.

Romney’s June number doesn’t even put him on track to out-raise Obama.

For that to happen, Romney would have to best Obama by $39.5 million a month for each of the last four months of the campaign, which is $5 million more than the advantage Romney had in June.

The Obama campaign seems to be keeping this quiet so they can play the underdog. Interesting, huh?

Perhaps in an effort to even the score, Romney is planning fundraisers in foreign countries. We’ve already talked about the events that are being organized for him in London at the time of the Olympics. USA Today reports that he is also planning a fundraiser in Israel.

Mitt Romney is reportedly planning a fundraiser in Jerusalem during his visit to Israel later this month.

The Jerusalem Post reports that donors will be charged “$60,000 or more per plate” at the event. Romney is jointly raising money with the Republican National Committee, and $75,000 is the maximum donation to the Romney Victory Fund.

Romney is scheduled to meet with Israeli Prime Minister Benjamin Netanyahu, among others, during his trip. The Israel visit will come after Romney attends the Summer Olympics in London.

I’ve been posting in comments for the past couple of days about the mysterious disappearance of Jesse Jackson, Jr. He took a medical leave on June 10, but no one would say where he was. Rumors spread that he was in rehab for drugs or alcohol. Finally today, the news came in a statement from Jackson’s chief of staff that Jackson is in an inpatient facility being treated for a “mood disorder.”

The statement quoted the unnamed Jackson doctor saying: “The congressman is receiving intensive medical treatment at a residential treatment facility for a mood disorder. He is responding positively to treatment.”

Earlier today, Ald. Sandi Jackson, said she is hopeful physicians will release details soon about her husband.

“I’m hopeful that my husband’s doctors will be able to release something soon,” she told the Tribune. “I’m in constant talks with them about Jesse’s condition and his medical prognosis going forward.”

Rep. Jesse Jackson, 47, a Chicago Democrat, has been on a medical leave since June 10, but his aides and family have declined to disclose the nature of his medical problem, where he is being treated or when he may return to work.

A mood disorder could mean major depression or bipolar disorder. Whatever is wrong, I hope Jackson will recover and be able to return to the House of Representatives. At present, he isn’t expected to return until after Labor Day, if then.

I couldn’t help noticing this NYT article about a 12-year-old boy who died tragically and unexpectedly of septic shock: An Infection, Unnoticed, Turns Unstoppable.

For a moment, an emergency room doctor stepped away from the scrum of people working on Rory Staunton, 12, and spoke to his parents.

“Your son is seriously ill,” the doctor said.

“How seriously?” Rory’s mother, Orlaith Staunton, asked.

The doctor paused.

“Gravely ill,” he said.

How could that be?

Two days earlier, diving for a basketball at his school gym, Rory had cut his arm. He arrived at his pediatrician’s office the next day, Thursday, March 29, vomiting, feverish and with pain in his leg. He was sent to the emergency room at NYU Langone Medical Center. The doctors agreed: He was suffering from an upset stomach and dehydration. He was given fluids, told to take Tylenol, and sent home.

But Rory was already in grave danger.

Bacteria had gotten into his blood, probably through the cut on his arm. He was sliding into a septic crisis, an avalanche of immune responses to infection from which he would not escape. On April 1, three nights after he was sent home from the emergency room, he died in the intensive care unit. The cause was severe septic shock brought on by the infection, hospital records say.

I hope everyone will read this very sad article. An overwhelming infection that began with strep killed my graduate school mentor–the same infection that killed young Rory. One day he began vomiting and thought he had a stomach virus. The next day he was dead. This happened a few months after I earned my Ph.D. with his help and support. As you can probably imagine, this was a terrible shock to me and I’m really still grieving–I have tears in my eyes as I write this. Everyone should be aware that sepsis is “a leading cause of death in hospitals, can at first look like less serious ailments…”

Moments after an emergency room doctor ordered Rory’s discharge believing fluids had made him better, his vital signs, recorded while still at the hospital, suggested that he could be seriously ill. Even more pointed signals emerged three hours later, when the Stauntons were at home: the hospital’s laboratory reported that Rory was producing vast quantities of cells that combat bacterial infection, a warning that sepsis could be on the horizon.

The Stauntons knew nothing of his weak vital signs or abnormal lab results.

This is starting to turn into a health care post, so I’ll return to politics before I wrap up. Yesterday everyone was talking about Mitt Romney’s speech to the NAACP. He was booed when he talked about repealing Obamacare and at a few other points. So why did he go? Surely he doesn’t expect to win over many African American voters. I thought this piece by Jamelle Boule provided a possible answer: Mitt Romney’s Successful Speech to the NAACP

As an attempt to persuade, Mitt Romney’s speech to the NAACP this morning was an exercise in futility. African Americans are loyal Democratic voters, and aren’t particularly interested in an agenda of tax cuts for the rich and spending cuts for everyone else. But that wasn’t the point. Romney almost certainly knows that he’ll only win a tiny percentage of black voters in November—at best, he’ll match John McCain’s performance in 2008. If current opinion surveys are any indication, it’s more likely that he’ll win fewer African American voters than any Republican in recent history.

The point of this address to the NAACP was to send a signal to right-leaning, suburban white voters—that Mitt Romney is tolerant, and won’t represent the bigots in his party. But there’s a sense in which Romney had it both ways: Not only did he reassure hesitant whites, but by pledging to repeal Obamacare—and being booed by the audience—he likely increased his standing with those who do resent African Americans. By going to an audience of black professionals and sticking with his stump speech, there’s a sense in which Romney might receive credit for refusing to “pander.”

That makes a lot of sense to me. Here’s another piece I found interesting about Romney’s efforts to woo Evangelical Christians:

Several years ago, when Mitt Romney was merely a multi-millionaire Massachusetts politician, he couldn’t locate the conservative Christian evangelical movement with a GPS or MapQuest. Over the past few years however, Romney and his team have been holding a series of meet-ups – whose pace has been recently accelerated – with conservative Christian leaders to assure them of Romney’s fealty to their issues.
When Romney heads off to Israel later this summer, he hopes to accomplish at least three objectives: renew his longtime friendship with Israeli president Benjamin Netanyahu; convince Jewish donors and voters that he is more Israel-friendly than President Barack Obama; and, send a message to conservative Christian evangelicals that he can be trusted.

Right win Christians are hoping Romney picks a VP from one of their own

“Acceptable nominees could be Tim Pawlenty, Mike Huckabee, Bob McDonnell, Rick Santorum, Bobby Jindal, and Marco Rubio.”

Please let it be Rick Santorum! That would be the kiss of death for Romney’s chances.

Those are my suggested reads for today. What are you reading and blogging about?


Tuesday Reads, Class Warfare Edition

Good Morning!!

As I wrote yesterday, President Obama’s campaign tactics are starting to get under Mitt Romney’s skin. Molly Ball of The Atlantic has also noticed this.

Mitt Romney has had enough. Fed up with President Obama’s attacks on his business record, he is — or at least his surrogates are — going to drop the Mr. Nice Guy act and start calling his opponent a liar, BuzzFeed’s McKay Coppins reports. Romney’s campaign had already gone there — an email Saturday from spokeswoman Andrea Saul was headlined “Obama’s Desperate Lies,” for example — but to turn the L-word, usually avoided in politics, into a surrogate talking point represents a new front.

Of course the Romney campaign has been trying to get Obama’s goat for months, and they’ve gotten exactly nowhere.

This is the same Romney campaign that sent bubble-blowing hecklers to David Axelrod’s press conference in Boston, deployed its campaign bus to circle and honk outside Obama events, and had a staffer confront Joe Biden personally at a restaurant in Ohio. In another move that seemed designed to get in Obama’s face, Romney himself staged a press conference in front of the failed solar-energy company Solyndra.

But the Obama campaign’s response to this, aside from a bit of huffiness about Romney’s failure to condemn such tactics, has largely been “meh.” Meanwhile, the president continues to conduct a gleefully negative campaign, complete with misleading attack ads and disingenuous character slams. (Romney, of course, has been guilty of the same types of distortions.) Romney prides himself on being thick-skinned — “I’ve got broad shoulders,” he’s fond of saying — but now he appears to have been driven to his limit.

This could be really fun to watch.

Of course Obama’s announcement  yesterday that he wants Congress to extend the Bush tax cuts for the 98% of Americans who earn less than $250,000 per year is likely to enrage Romney and the rest of the Republicans even more. And it’s all part of the Obama campaign’s strategy. Michael Shear of The New York Times reports:

President Obama’s push on Monday to extend tax cuts for the middle class — but not for the rich — is being joined by an all-out effort from his allies to portray Mitt Romney as a wealthy candidate who is out of touch with most Americans.

The president’s campaign and his surrogates are accusing the presumptive Republican nominee of hiding the sources of his multimillion-dollar fortune and of refusing to release multiple years of his tax returns. On Monday, they also mocked Mr. Romney’s weekend fund-raisers at glamorous estates in the Hamptons.

In an interview with a New Hampshire television station on Monday, Mr. Obama added his voice to the criticism of his rival, saying that Americans should “know who you are and what you’ve done and that you’re an open book. And that’s been true of every presidential candidate dating all the way back to Mitt Romney’s father.”

The White House also said yesterday that Obama will veto any effort to extend the Bush tax cuts for the top 2% of Americans.

Mitt Romney is a very rich man, but he’s not the richest man to ever run for President. John Kerry is at least as rich as Romney and probably slightly richer; and if Kerry’s wealth is combined with that of his wife Teresa Heinz Kerry, he is probably a billionaire.

When he ran in 2004, Kerry released 20 years of tax returns! Teresa Heinz Kerry resisted releasing her tax returns and that became an issue in the campaign. She eventually released some minimal information. But Kerry himself was exceedingly transparent:

His campaign released all of his military records after conservative critics questioned stories related to his time in service. He also released 15 years worth of meetings he had with more than 300 lobbyists while serving as a U.S. senator. As The New York Times reported on April 23, 2004:

The list, detailing meetings between 1989 and late last year that were often held over lunch, dinner or cocktails, identifies many participants who have contributed to his campaigns and, in some cases, become fund-raisers for his presidential run.

As far as I can tell, Kerry did not have millions stashed in secret offshore tax shelters. Another important difference between Kerry and Romney is that Kerry was not advocating tax policies that would help the wealthiest Americans and hurt the poorest Americans as Mitt Romney is.

Of course the most shocking thing about the tax information we do have about Romney is that he paid around 13 percent of his income in taxes–a lower proportion than is paid by people in the lowest tax bracket.  I think that is why these attacks on his as an out-of-touch rich guy are working.

I can’t see the Obama campaign letting this go until Romney either is more forthcoming or somehow explains why he is being so secretive about his money. As long as he refuses to be more open, we can only assume he has something to hide, as Paul Krugman wrote this morning.

In line with yesterday’s news about Mitt Romney’s fund raisers in the Hamptons and the clueless types who attended them, Mother Jones has a funny story about internecine class warfare among the Hamptons’ super-rich denizens. You’ll need to read it all, but here’s the introduction.

With twin 2,520-horsepower engines and up to 19 seats, the Sikorsky S-92 is among the world’s most powerful civilian helicopters. “Helibuses” typically service offshore oil platforms and the like, but two years ago billionaire industrialist Ira Rennert acquired a posh version to shuttle himself between Manhattan and Long Island’s exclusive Hamptons, where he owns a 63-acre, 110,000-square-foot villa complex. One of the first to notice the giant bird was Frank Dalene, founder and CEO of a successful luxury homebuilding company, who lives on a ridge along Rennert’s flight path. Its whumping rotor was like “a lightning bolt striking nearby,” says Dalene, a fast-talking 58-year-old with a long nose and narrow-set eyes. He blames the vibrations for “literally damaging my home.”

Dalene and his neighbors near the East Hampton Airport might have abided Rennert’s choppers—he owns two—had they been an anomaly. But the situation has become intolerable over the past few years, Dalene says, thanks to a whirlybird craze among the investment bankers and hedge fund gurus who weekend in Sagaponack and Southampton. On Friday afternoons the tiny airport is a beehive. Come summer, some CEOs commute daily between their beach chalets and Manhattan’s East 34th Street Heliport. “They don’t give a crap about nobody,” Dalene gripes.

Last year, he founded the Quiet Skies Coalition, an anti-helicopter group that has become one of the most potent political forces in the Hamptons. Its wealthy members north of the Montauk Highway launched what Dalene describes as a “knock-down, drag-out battle” against “ultra-wealthy” helicopter owners who largely live on the south side, accusing them of shattering the island’s tranquillity, contributing to climate change, and poisoning the air with leaded fuel. “I am beginning to think Mr. Rennert is practicing class warfare,” Dalene wrote Rennert’s Manhattan secretary in an email that likened the noise assaults to “throwing their garbage on the other side of the tracks for us poor folks to live with.”

Rennert, a multimillionaire lives on “the poor side of the tracks” in the rarified atmosphere of the Hamptons. He is a long-time Republican, but he’s so angry at the pro-helicopter Republicans that he plans to switch his registration to Independent.

At The Daily Beast Peter Beinert argues that Republicans are the ones who have traditionally engaged in class warfare.

Joseph McCarthy, the man whose specter terrified Democrats for a generation, was all about class warfare. “It has not been the less fortunate or members of minority groups who have been selling this nation out,” he told the Republican Women’s Club of Wheeling, West Virginia, in 1950, in the speech that catapulted him to stardom, “but rather those who have had all the benefits that the wealthiest nation on earth has had to offer—the finest homes, the finest college education, and the finest jobs in government we can give. This is glaringly true in the State Department. There the bright young men who are born with silver spoons in their mouths are the ones who have been worst.”

Richard Nixon seethed with class anger. “What starts the process really are laughs and slights and snubs when you are a kid,” he confided to a friend. “Sometimes it’s because you’re poor or Irish or Jewish or Catholic or ugly or simply that you are skinny. But if you are reasonably intelligent and if your anger is deep enough and strong enough, you learn that you can change those attitudes by excellence, personal gut performance, while those who have everything are sitting on their fat butts.”

Then there are the more recent examples. In 1988, George H.W. Bush accused Michael Dukakis of having learned his views in “Harvard Yard’s boutique,” a bastion of “liberalism and elitism.” (Bush’s campaign manager, Lee Atwater, later declared that had he been running Dukakis’ campaign, he would have shown ads featuring Bush on his private tennis court alongside images of his waterfront mansion in Kennebunkport, before having the narrator intone: “No wonder he wants to cut capital gains taxes on the wealthy.”)

Joseph McCarthy actually started out as a Democrat, but by the time he got the Senate he was a Republican. He once

denounced the entire Democratic Party as a group of traitors: “The issue between the Republicans and Democrats is clearly drawn. It has been deliberately drawn by those who have been in charge of twenty years of treason. The hard fact is — the hard fact is that those who wear the label, those who wear the label Democrat wear it with the stain of a historic betrayal.”

He would have fit right in with today’s Tea Party Republicans.

The right wing blogs are accusing President Obama of “class warfare” because he wants the top 2 percent of income earners to pay the same proportions of their incomes in taxes as they did during the Clinton administration. Princeton History Professor Julian Zelizer “Obama should ignore ‘class warfare’ gibes.”

During a meeting with historians in 2011, Politico reported, President Obama said: “What you could do for me is to help me find a way to discuss the issue of inequality in our society without being accused of class warfare.” For Obama, this is not an esoteric question. Rather, this is a challenge that will be integral to his campaign and, if he is re-elected, to his second term as president.

Many Democrats have argued that Obama should have tackled this issue from his first day in the White House. But this is an issue the president didn’t think he had the political capital to address. He has also continually feared that touching on inequality would open him up to Republican attacks of being left of center.

And being “left of center” is bad because….? {Sigh….} Zelizer then discusses FDR and LBJ, two presidents who weren’t afraid to address issues of inequality. He ends with this advice for Obama:

a vibrant national discussion about inequality, with the president taking the lead, is essential. The 2012 campaign offers Obama an opportunity to put this problem on the national agenda.
The challenge for Obama is that there really is no way around the inevitable attacks, and there is no way to talk about economic inequality other than talking about it. Rather than looking for rhetorical tricks, Obama should instead focus on having the best arguments in response to the conservative attacks.

This will require borrowing from Roosevelt a defense of how a vibrant middle class will be crucial to revitalizing America’s economic position in the world, and from Johnson an argument that the ethical obligation to help the poorest is incumbent on our democracy.

I wholeheartedly agree. It’s time for Obama to suck it up and deal with the attacks that come along with doing the right thing. It appears that he is getting a little more daring these days. Certainly calling for extending the middle-class tax cuts now instead of waiting till after the election was a good opening gambit. It also appears that Obama is pretty good at letting Romney’s foolish attacks roll off his back.

Class warfare has been a useful tactic for Republicans in the past, as Peter Beinart pointed out. This year Obama is running against the perfect representative of the monied classes in Mitt Romney. It’s perfectly appropriate to run on the issue of inequality in incomes and opportunities.

I sincerely hope the Obama campaign continues this strategy right up until November–along with coming up with specific policies to change the current trend toward greater distance between the super-rich and the rest of us.

Enough of my ranting, what are you reading and blogging about today?