Hey Newt Gingrich, what the hell are you doing?
Mitt Romney seems to be increasing his foothold on securing the GOP nomination after victories in Iowa and New Hampshire, so in seeming desperate acts, Newt Gingrich unleashed a barrage of attacks on Romney and the action of the firm he helped found, Bain & Company, a venture capitalist firm. While there are several legitimate avenues of attack on Mitt, Gingrich choose to hit Bain and the business practices of venture capitalist firms as evil, job killers and something Americans despise.
Rudy Giuliani, joining Steve Doocy, Alisyn Camerota and Eric Boling on Fox & Friends, is far from amused. Take a listen:
As sad as that is, particularly from "the smartest guy in the room", Texas Governor Rick Perry felt compelled to join in, calling Bain a "vulture" capitalist firm. Come again?
Hey Rick Perry, what the hell are you doing?
Venture capitalist firms like Bain are integral to our capitalist system and free market enterprise. For mid sized firms that are losing their way, venture capitalist firms, typically invited in by shareholders, provide guidance, operational expertise, asset management and capital, generally for a piece of the company in an effort to help the company survive and thrive.
It is a risky venture, with marginal success rates. However, when successful, payoffs can be huge. Not just for the venture capital firm, but for the company, the employees, shareholders and in most cases, the communities which house the business operations. For Bain, companies like Staples, Clear Channel and The Sports Authority are three Bain Capital success stories.
Within 20 miles of my office, these three companies alone employ an estimated 500 people, who need places to live, work and play, which is most beneficial to the economy here in Orlando.
Bain Capital and similar firms should be appreciated for playing a vital role in helping assist in the expansion of commerce, which is vital for a capitalist system to bear fruit. Gingrich and Perry should be well aware of this, and should be called out for taking the approach of the socialist Democrats in railing against capitalism and free markets. I just did.
Hey Mitt Romney, what the hell are you doing?In the aftermath a big victory in New Hampshire, Mitt Romney gave an outstanding victory speech, hitting all the chords conservatives are longing to hear. If we could trust this is what we would get with a Romney presidency, I think everyone would be on board. We cannot, as the very next day, Romney offered the following:
In the general election I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships laid off thousands and thousands of workers – he did it to try to save the business.
Obama violated countless free market principles in "saving" General Motors and Chrysler, most notably in the shafting the bondholders and closing down of dealerships with ties to the Republican party. The interference in the marketplace by Obama, exhibiting crony capitalism by picking winners and using tax payer funds to benefit friends and campaign supporters, are actions to be strongly condemned, not celebrated. Rush Limbaugh appropriately hammered Romney on his remarks.
Hey Haley Barbour, what the hell are you doing?I do not know where the "tradition" of pardoning folks after a term in office came from, but I do not find a compelling reason to continue it. Certainly, there would be cases where such an action is warranted, and that is fine. One of the most celebrated cases came with Bill Clinton pardoning Marc Rich, which I find an error.
Unfortunately, this practice is not confined to Democrats. Enter Mississippi Governor Haley Barbour. Barbour has done a very good job as Governor of Mississippi, and was considered a potential GOP presidential candidate. As he concluded his term, he pardons several individuals that need to remain behind bars.
Media outlets have outlined the cases of a handful of these folks, and a Judge has blocked the release of those still incarcerated.
Although Barbour is "very comfortable" in his decision, I am very comfortable in finding him in gross error and condemning his action. Based upon actions such as this, the practice of knee jerk pardoning bus loads of criminals should cease. If these folks cannot do the time, they should not have committed the crime.
Perhaps common sense will re-assert itself this week, but I doubt it.
