ElectionsInfo.net     An Internet archive of election results and analysis

ElectionsInfo

United States

International

Search

   Mitt Romney's Bain capitalism pays dividends to Obama

NEWS INFORMATION

Parent

Parent

News Date

7/2/2012 11:30 am

Author

Michael Wolff

Media

Guardian

Category

Analysis

Database Record

Entered 7/2/2012, Updated 7/2/2012

Original Article

Link

Description

The Bain attacks are, so far, the most controversial Obama campaign strategy, derided by many Democratic pros and insiders. Theirs is a simple analysis: populist attacks seldom work for the Democrats (curiously, they tend to work well for the Republicans); private equity is an issue too complicated to gain lasting attention; it's silly to offend the financial community, which provides so much support to the Democrats, over a low-return issue. Indeed, part of the great generational shift of party identification and loyalty has been the movement of the Republican party away from Wall Street and to social interest groups, and the movement of the Democrats from their traditional labor roots to a new home among the financial Medicis. In ways large and small, the Democrats, during the historic Clinton-led stockmarket surge, became the party of Goldman Sachs. Obama may have incurred the wrath of rich (and wakadoo) Republican outliers – the Koch brothers, for instance – but (at least, up until now) he and the Democratic party have had a firm hold on that once rock-ribbed Republican club, the eastern financial establishment. And while this new alignment gave the Democrats vast resources, it also, in ways large and small, confused its message. The Democrats became the snob party, the haughty party, the yuppie party, while the Republicans, remarkably, became the salt-of-the-earth lot. George Bush, from as rock-ribbed a family as anyone has ever been, somehow turned into an everyman. Part of the Democrats' inability to make the financial meltdown its own issue is caused by its own deep ambivalence and profound conflict of interest when it comes to the financial industry: many senior administration officials expect to leave office and get jobs, and make personal fortunes, in the institutions that might otherwise be blamed, and even indicted, for the present mess.


NEWS OF NEWS

Date

Category

Headline


DISCUSSION

All information on this site is © ElectionsInfo.net and should not be used without attribution.