American Elephants


Trying Desperately to Define Mitt Romney: by The Elephant's Child

James Freeman, at the Wall Street Journal, points out the ironies of Mr. Obama’s attack on Bain Capital. It is clear that the Obama team doesn’t understand what it is that Bain Capital or Mr. Romney did, for they have confused the private equity firm with “corporate raiders,” and Wall Street tycoons. “Bain Capital,” Freeman says, “is the investment firm that has spent much of its 28 years enriching Mr. Obama’s voters.  Bain clients tend to be government-employee pension funds, foundations, trusts and elite universities.  According to Dow Jones LP Source, investors in Bain funds have included both Mr. Obama’s alma mater, Columbia, as well as Michelle Obama’s Princeton.”

Harvard has also invested with Bain. Bain Partners have also included pension funds for government workers in Illinois, Iowa, Maryland and elsewhere. Teachers’ retirement funds in California, Indiana and Ohio have also been limited partners in Bain funds.

If Mr. Obama truly believes that Bain made its money by firing people and destroying businesses, should the universities and public-school teachers give back their Bain money?

Mr. Obama is in an unenviable position. The economy in his term has only gotten worse.  He blamed his predecessor for a longer period than could be supported, then he has attempted to blame Republican intransigence, but that doesn’t seem to be working either. Then the Democrats hauled out Ann Romney’s horse.  Ann Romney has survived breast cancer, multiple sclerosis, and five sons and dressage is therapeutic for her. So they somehow have to portray Mitt Romney’s success with Bain Capital as a negative.  Good luck with that. I guess you could try something like “if you’ve got a business, you didn’t build that. Somebody else made that happen.” Oh wait…


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