Tuesday, January 10, 2012

Gingrich proclaims: "I am Stupidicus!"

One thing is now clear: Gingrich is as good as Obama, when it comes to claiming not to be a socialist while playing one on TV. From yesterday, on FoxNews:
If we have a potential nominee who can't take the heat in February you sure don’t want to discover that in September. So I think Gov. Romney owes all of us a press conference where he explains what happened to the companies that went bankrupt and why Bain made so much money out of companies that were going bankrupt.
And in the same bit, Newt also points out what a great Reagan Conservative he is.

Capitalism 101: stagnant capital is not capital. If a company can't survive, can't compete, but it has assets to be sold off for a profit, the company goes under and the assets are sold off for a profit. And sometimes, that's very much a  subjective opinion. Or in the immortal words of Gordon Gekko, when asked why he needs to wreck BlueStar Airlines, "Because it's wreckable, alright!"

Are we all children, now? Do we--in Newt Gingrich's world--need to pretend everything is sunshine and lollipops and attempt to reorder the economy, to negate the sometimes negative consequences for some in a free market system?

I can understand this kind of talk coming from someone that believes in form of economic planning, that thinks the government should step in and shore up businesses, whenever needed. But from a self-professed Reagan conservative (and yes, I know Reagan backslid in the S&L fiasco)? From someone who claims to have a goal of defeating a President who would--if he were facing Romney now--likely take the exact same position?

Oh, maybe that's it. Maybe Newt--being too clever by half--is "prepping" Romney for his ultimate battle against the Dark (or Light) Side. Right. We know that's not it. Because we know that Gingrich is pissed at Romney, to say the least. As Krauthammer notes, Newt is after vengeance, not victory.

Plus, he has is own past in the same industry as Bain Capital and Romney:
But Mr. Gingrich was himself on an advisory board for a major investment firm that had a similar business model, Forstmann Little, a pioneering private equity firm co-founded in 1978 by Theodore J. Forstmann that was, along with Mr. Romney’s Bain Capital and Henry R. Kravis’s Kohlberg Kravis & Roberts, among the leading private equity firms during the 1980s and 1990s.
No doubt, he was merely acting as an historian for the firm.

But it's ridiculous. Gingrich shouldn't need to defend his role there. It's just business, nothing more. The same is true for Romney and Bain Capital.

But that's the real problem, isn't it? For Newt, this isn't business, it's personal.

Cheers, all.

1 comment:

  1. Not exactly Thatcher slamming down Hayek's The Constitution of Liberty and boldly proclaiming "This is what we believe!"