Bain: He's Drowning Not Waving by Andrew Sullivan

[magical thyme]

worth posting for the title alone. But also another nice summary of his position.

http://andrewsullivan.thedailybeast.com/2012/07/bain-hes-drowning-not-waving.html

....Yes, we have been told that his departure was dramatic, and that it took time to restructure a complicated business partnership, but for a company to declare a false CEO to the SEC for three years is either the mark of spectacular incompetence - and a potential felony - or a lie.


....So now the story is the following: Romney legally declared himself the "sole stockholder, chairman of the board, chief executive officer, and president" in a period when his company says he had "absolutely no involvement with the management or investment activities of the firm or with any of its portfolio companies." But during that period, he attended board meetings of Bain companies and made several business trips back to Boston.

....I'd say Romney's best bet is to stick with his under-oath testimony and to his SEC filing and admit that he was responsible for what Bain did - legally and practically - in the period in question, even if he was part-time. Otherwise, he could have committed a crime. The only problem with conceding this is that it opens up a whole can of worms about investments and decisions by Bain in those years - and possible inquiries into conflicts of interest as he drummed up dollars for Salt Lake City's Games.

Which leads us to the following conclusions: yes, former Senator Santorum, your nominee was the "sole stockholder, chairman of the board, chief executive officer, and president" of a private equity firm that invested in a post-abortion fetus disposal enterprise. Maybe if you'd known that, you could have brought it up in the primaries.

[Fuddnik]

1. Mittler probably had good intentions with his fetal disposal service.

He could baptize them all into the Mormon Church on their way to the dump.

[mwb970]

2. Is it too late for them to nominate someone else?

This guy is turning out to be really terrible. And it's only JULY.

[yellerpup]

4. He's not been nominated yet.

And it looks ever more likely that he won't be the nominee. There will be a brawl at the convention when the nominee is chosen next month.

[davidpdx]

5. My response, it is worth considering given everyone is taking Romney for dead

http://www.democraticunderground.com/?com=view_post&forum=1251&pid=55474

[yellerpup]

6. Very interesting point you make.

And may very well be the reason the Bain Adventures are coming out now. Hit 'em in the pocketbook and make 'em pay? Whatever works!

[obxhead]

8. Interesting response.

However, Romney may be so damaged by then that it won't matter. The thing about a very short campaign with a new candidate is that it will be difficult to get out dirt against them quickly.

Had McSame waited 5 or 6 more weeks to pick palin for veep it might have been a much closer race. She gave a huge boost to his numbers in the first few weeks.

Anyone but Romney might get a huge boost with the anyone but Obama crowd.

(edits: Damn I can't type today)

[magical thyme]

10. such a short campaign would mean they'd need somebody already known

a total unknown wouldn't pick up enough of their own or some center right independents. So it would have to be someone from their current clown car. And I'm sure Obama's team has plenty of goods on their current clown car. Plus the agility to turn on a dime.

Jeb won't run yet. He knows the economy is still inextricably linked to W. He's waiting this one out and positioning himself as a moderate, in hopes that they will manage to continue to plunder for another 4 years, and then have enough distance to call it Obama the socialist's fault.

It's clear from Obama's brilliant campaign that he knows how to fight them. I'm hoping he's now pissed off enough at, not only the GOP, but the 1%ers, that he continues to fight at this level to get real economic justice and reform.

[davidpdx]

11. It could be a bait and switch situation

Romney picks someone who is qualified to run in his place and then he conveniently drops out at the convention. That would buy them more time to get the candidate's name out there. There is still logistics which would be a nightmare.

[Rosa Luxemburg]

9. LOL!

[PETRUS]

3. Stevie Smith reference!

Nobody heard him, the dead man,
But still he lay moaning:
I was much further out than you thought
And not waving but drowning.

Poor chap, he always loved larking
And now he's dead
It must have been too cold for him his heart gave way,
They said.

Oh, no no no, it was too cold always
(Still the dead one lay moaning)
I was much too far out all my life
And not waving but drowning.

[lovemydog]

7. Is there any way to short Bain stock?

Bain will nosedive unless it invests in a Romney disposal system.

[TeamPooka]

12. It all keeps coming back to SANKATY ltd.

Follow the money to Sankaty