Bain Backfire: Obama Camp in 'Full Damage Control Mode'

Bain Backfire: Obama Camp in 'Full Damage Control Mode'
Breitbart Story -- by John Nolte

It looks like yet Another Democrat and Obama "supporter" has gone off on a tangent and is criticizing the recent Obama Campaign assault on Romney's Bain Capital record.

Newark, N.J. Mayor Cory Booker has lashed out and The Obama Campaign is clearly frustrated with all the recent "comments" by "supporters" that seem to question the Campaigns tactics.

Today at the Chicago NATO Summit, Obama told the audience:

[Bain Capital] is not a distraction, this is what this campaign is gonna be about.

Meanwhile, back at campaign headquarters, Team Obama is in full meltdown mode after Newark Mayor Cory Booker went off script, undermining and mocking "what this campaign is going to be about."

ABC News:

The Obama campaign is in full damage-control mode one day after Newark Mayor Cory Booker publicly derided Democrats’ assault on presumptive GOP nominee Mitt Romney over his record at Bain Capital.

Chief Obama strategist David Axelrod today publicly rebuked Booker, a popular and high-profile surrogate for the campaign, saying he was “just wrong.”

“I love Cory Booker. He’s a great mayor. If I were, if my house was on fire, I’d hope he were my next door neighbor,” Axelrod said on MSNBC, referring to Booker’s rescue of a neighbor last month.

“I agree with what he said later. I think this was a legitimate area for discussion,” Axelrod said of Booker’s subsequent comments clarifying the issue.

Notice how Axelrod "appears" to be gasping for air

But Booker isn't the only Democrat already tired and made uncomfortable by Obama's divisive attacks on the risk-takers who create the jobs and this country's wealth. Below you'll see an ad the Romney campaign released today with more Democrats going "off-script" on the subject of Bain -- an ad that not only proves Romney already has a rapid response team up and running, but that it's a very effective rapid response team.

If Obama loses the Bain Capital battle, he'll probably lose the election. All a failed incumbent can do is toxify his opponent, rendering him unelectable -- and this is a failed incumbent who has staked his entire campaign on divisive class warfare and envy.

Team Obama is in a panic because their entire playbook is falling apart.

Youtube Caption:

Published on May 21, 2012 by mittromney

President Obama's attacks on free enterprise have triggered a backlash among many—even among those in his own party. In just the past few days, everyone from former advisors to his own surrogates have criticized the Obama campaign's attack on free enterprise. With no record to run on, it is no surprise that the Obama campaign has resorted to misleading attacks that have been disavowed by its own supporters.

Well, what DID Romney do at Bain Capital ??

How many jobs Were created or saved ?

I love how we're talking about this Bain capital crap, but the media continues to be totally uninterested in talking about Obama and Democrats horrible record since they took control in 2006. Lets face it, the media is basically an extension of the Democrat party and they're going to do all they can to get Obama re-elected.


Like Chris Matthews said, it's their job to make this presidency successful.

reply to post by PvtHudson


Ye ......lets talk about locking US citizens up in prison camps with out trial or legal representation.. thats a far more interesting topic.

Lol @ Obama criticizing the "job creators;" if they created jobs, we wouldn't be in this damn economic mess, and there was absolutely nothing honorable about Mitt's role in Bain Capital. I don't think that it's a topic which needs to be beaten into the ground and there are more important political and economic issues to debate rather than Romney's shameful past, but it should be discussed somewhat because people need to know how awful of a person Romney is.

Not to say Obama is much better...

reply to post by xuenchen


Right in front of you can see the difference in the Right & the Left.
The Left is an accumulation of individual minds working for the same cause but many ideas on how to get there.
Not one subject can be completely agreed upon. Too diverse to come to a consensus 100%.
The Right walks in goose step arm in arm with the Borg hive mind. If one or many stray & commit heinous accusations then they all rally behind the offender.

The poitical process makes me puke............
It obvious we are being shilled to death by mountebanks and criminals.
The whole human race is subject to this foolish distraction while they are enslaved to the system, and robbed of their lives, their wealth and their dignity.
The vomitous persoanlities are mere pretenders to the people whos image they attempt to present.
They are all actors, paid to parrot the lines that keep the system intact for the varmints to plunder.
Nothing is from the heart in politics,......its all a hypocritical act..............
Romney, or Obama, will both do what they are told by the uber rich.
They will feather their nests and try to present history with seemingly valid reasons for their transgressions and treason.....
I hope that we are all getting so sick of this dog and pony show, we stop paying for the tickets and start something more humanly oriented.
The basis of goverment, the reason for its existance, has been obfuscated, and trampled in the rush to get rich that our governors engage in the moment they are elected.
In the words of Ebineezer Scrooge,
BAH! HUMBUG!

reply to post by xuenchen


This BookerGate is bad and it's not going away.

Many other dems are speaking out against the attack on Bain Capital.

Originally posted by xuenchen

“I agree with what he said later. I think this was a legitimate area for discussion,” Axelrod said of Booker’s subsequent comments clarifying the issue.

Though you dropped this tidbit hinting that Corey Booker elaborated on his remarks, you failed to include those remarks?

I know you always like to present OPs in an objective light, so I will helop you out..

Mitt Romney has made his buisness record a center piece of his campaign. He’s talked about himself as a job creator. Therefore it is reasonable, and in fact I encourage it, for the Obama campaign to examine that record and to discuss it. I have no problem with that. I believe, in many ways, Mitt Romney is not being honest about his role and his record even as a business person and is shaping it to serve his political purposes and not necessarily including all the facts from his time there.

www.gop.com...

BOTTOM LINE:

If Romney is going to run a campaign touting his record at Bain as a "businessman"...then he can't cry like a baby when people actually take a look at that record.

At Dade Behring Inc., a medical-testing company based in Deerfield, Illinois, Bain cut at least 1,600 jobs during a series of acquisitions before the firm entered into bankruptcy in 2002.

DDi Corp., an electronics company in Anaheim, California, filed for bankruptcy in 2003 after Bain sold shares in the company generating at least $85.5 million and billed $10 million in management fees.

GS Industries Inc., a steel company in Charlotte, North Carolina, filed for bankruptcy in 2001 after workers said a chief executive hired under Bain made missteps, including installing managers who lacked industry expertise, former employees said.

Bain and Goldman cashed in on their investment in June 1999, selling back shares to Dade for $365.4 million.

Dade borrowed so much money to make that payment that when sales declined and interest rates rose the company struggled to pay its creditors. Standard & Poor’s downgraded its outlook for Dade Behring to negative from stable. The company later filed for bankruptcy.

“They leveraged this thing to the hilt and got out when they could,” Rumbin said. “We were left holding the bag.”

www.bloomberg.com...


Borrow money to buy a company, gut the company...run with the profits, while the company spirals.

reply to post by Indigo5


Don't forget the wonderful Obama plan.

Borrow, borrow, borrow and blame Bush when it of course fails miserably.

Socialism doesn't work.

Welcome to Obama - S T A G N A T I O N -.

Originally posted by Eurisko2012
reply to post by Indigo5

 

Don't forget the wonderful Obama plan.

Well, fortunately we don't need to examine a "plan" for a sitting President, we can examine the results..

What does Mitt have to show for his career...comparing to my post above showing President Obama's numbers?






I have no doubt that Mitt is very good at taking other peoples money by any means neccessary...just confused as to why people think that is a good quality in a President.

Originally posted by Indigo5
What does Mitt have to show for his career...comparing to my post above showing President Obama's numbers?

I have no doubt that Mitt is very good at taking other peoples money by any means neccessary...just confused as to why people think that is a good quality in a President.

edit on 22-5-2012 by Indigo5 because: (no reason given)

Oh, not bad.

Socialism: The Gospel of Envy

------
That won't work. Americans want solutions not excuses. Nice try.

reply to post by Indigo5


Your Job Growth chart is incomplete.




Do see the millions of Americans jumping - out - of the workforce?

Clearly, Obamas economic policies have failed.

1 in 2 college graduates are either unemployed or underemployed.

Looks like it could come down to Paul against Romney after all.
That is, if Romney manages to sleaze his way out of the fraud lawsuit cases coming up in June.
Ron Paul - 45th POTUS

Bain and Financial Industry Gave Over $565,000 To Newark Mayor Cory Booker For 2002 Campaign

This is why Cory Booker came out in defense of Bain Capital. He was bought for $565,000. How does a guy running for mayor of Newark warrant that much campaign contribution from a vulture private equity firm like Bain? What interest does a Massachusetts firm have in financing the campaign of a guy running for mayor in a neighboring state?

Yesterday, Newark, New Jersey Mayor Cory Booker (D) attacked the Obama campaign for making an issue of Mitt Romney’s tenure at Bain Capital during an appearance on Meet the Press. While the progressive leader later backed off the criticisms, Republicans have been quick to highlight his comments as an attack against the idea that scrutiny of Mitt Romney’s record as a businessman is fair game.

A ThinkProgress examination of New Jersey campaign finance records for Booker’s first run for Mayor — back in 2002 — suggests a possible reason for his unease with attacks on Bain Capital and venture capital. They were among his earliest and most generous backers.

Originally posted by xuenchen

Well, what DID Romney do at Bain Capital ??

How many jobs Were created or saved ?

I actually did a bit of research on this and found a pretty good article on Romney's time at Bain from the Wall Street Journal.

Romney at Bain: Big Gains, Some Busts

The Wall Street Journal, aiming for a comprehensive assessment, examined 77 businesses Bain invested in while Mr. Romney led the firm from its 1984 start until early 1999, to see how they fared during Bain's involvement and shortly afterward.

Among the findings: 22% either filed for bankruptcy reorganization or closed their doors by the end of the eighth year after Bain first invested, sometimes with substantial job losses. An additional 8% ran into so much trouble that all of the money Bain invested was lost.

Another finding was that Bain produced stellar returns for its investors—yet the bulk of these came from just a small number of its investments. Ten deals produced more than 70% of the dollar gains.

10 businesses out of the 77 reviewed produced significant dollar gains. In addition, many went bankrupt or ran into trouble later on.

The net on those 10 is shown below.



The article goes into some detail and it does mention that many of the later bankruptcies are clustered in the economic downturn.

I guess how he did depends on how and what you measure.

Did Bain make money? Yes, lots of it. Many of Bain's firms were not "winners" but those few that were winners made Bain lots of money.

Did Bain build long term, successful companies? Not too many. It had more flops than winners by a good margin.

reply to post by Frogs


Great Info

We need to get it all out in the open.

[color=cyan]*****

reply to post by Blackmarketeer


That's also good info.

But can we confirm the connection and the actual donation lists ?

The article's link to the New Jersey campaign finance site isn't pointing to the specifics.

We need to confirm.

Watch my right hand and by all means ignore what my left hand is doing...


"On the same day his campaign launched an attack on Mitt Romney‘s record in private equity, President Obama is attending a big-dollar fundraiser at the Manhattan home of one of the industry’s top figures. Hamilton “Tony” James — the president of the Blackstone Group, the nation’s largest private equity firm — is hosting a $35,800-a-head dinner for Obama, with 60 Democratic allies expected to attend, according to a campaign official. Many in attendance are expected to have ties to the private equity sector."

abcnews.go.com...


AND...
One of Bain’s executives closer to the actual demise of Ampad and the job losses pointed out in the Obama campaign ads is a current big time Obama fundraiser!


abcnews.go.com...

reply to post by Indigo5


Your graphs backfire. What your graphs actually show is that the economy and jobs were on the rebound under Bush. At the point things changed it is impossible for it to be due to policies put in place by Obama, thanks for playing.