Bain Capital

Teflon Don?

Responding to arguments that Mitt Romney is stronger than he looks, The New Republic’s Nate Cohn notes the degree to which Romney’s resiliency—in the face of attacks and gaffes—is a natural consequence of polarization in the electorate. In other words, it doesn’t actually tell us anything about the direction of the election:

Romney Starts His Foreign Trip with a Series of Gaffes

For someone as cautious as Mitt Romney, it is surprising that within a day of arriving in Britain, he made a number of gaffes that have been widely reported in both the British and American press. When Romney commented that the security around the Olympics was not quite up to snuff, British Prime Minister David Cameron shot back: "We are holding an Olympic Games in one of the busiest, most active, bustling cities anywhere in the world.

Why Should Politics Stop at the Water's Edge?

Senator Arthur Vandenberg, misinterpreted yet again.

Mitt Romney is in London—most definitely not to cheer on Rafalca in the dressage competition, mind you, because he barely knows that horse ("I have to tell you. This is Ann's sport. I'm not even sure which day the sport goes on. She will get the chance to see it—I will not be watching the event")—but he's making sure that while he's over there, he won't utter a discouraging word about the socialist business-hating foreigner in the Oval Office who is working every day to destroy America. Because that's not how we do things. "Politics stops at the water's edge," we always say. My question is: Why?

No One Actually Knows if the Bain Attacks Are Working

If the latest poll from Gallup and USA Today tells us anything, it’s that for many Americans, Mitt Romney is—on the face of things—a plausible alternative to President Obama. 63 percent of respondents said that Romney’s business background, including his tenure at Bain Capital, would lead him to make good decisions in dealing with the nation’s economic problems—only 29 percent disagreed. As for an overall assessment of the Republican nominee, 54 percent say that he has the personality and leadership qualities a person needs to be president, compared to 57 percent for Obama.

While You Were Distracted, Romney Won the Battle over His Tax Returns

Take that, you insolent peasants! (Flickr/Austen Hufford)

Any time a politician faces pressure to do something he doesn't want to do, there's a calculation involved about the arc of the story and the cumulative effect of the two courses he could take. I can take the slings and arrows of the moment and hold out, in the hopes that the story will go away, or I can succumb and hope that by getting the pain over quickly, the damage will be minimized. The conventional wisdom has become that any time there's damaging information about you, you have to get it all out as soon as possible, and there are certainly plenty of cases in which a politician didn't do so and ended up suffering both from the information itself and his initial stonewalling against releasing it. But that need not always be the case. Mitt Romney may just have bet correctly that he could stand firm against releasing his tax forms from any year before 2010 and get away with it.

Obama's Successful Play for Latino Votes

President Obama can’t win re-election without high support and turnout from Latino voters, and to that end he has aggressively targeted them with ads, speeches, and one bold attempt to unilaterally reform immigration policy as it applies to the children of undocumented immigrants. If the latest poll from Latino Decisions is any indication, this strategy is working. Since June, Obama’s Latino support has risen 4 points to 70 percent, while Mitt Romney’s support has declined to 22 percent of Latino voters:

Voters Are Buying Obama's Argument on Taxes

The latest Pew survey shows something of a breakthrough for the Obama campaign. Since last fall's unveiling of the American Jobs Act, Obama has hammered home the “fairness” of raising taxes on high income earners. This rhetoric has made its way into almost every speech from the president, and is a key part of his second term agenda. According to Pew, it seems that Obama’s persistence has had an effect—by two to one, 44 percent to 22 percent, Americans say that raising taxes on the rich would help rather than hurt the economy:

With High Unemployment, Why Is Obama Ahead?

Nate Silver has an excellent post this morning on the Romney campaign’s reaction to the attacks on Bain Capital. The short story is that Romney might be overreacting to the controversy; he continues to equivocate and go on the defensive, despite the thin evidence that these attacks are having an effect on the race. Both Obama and Romney are roughly where they were three months ago, when the general election began in earnest, and polls taken since the attacks began have been inconclusive on the effect of anti-Bain ads.

Journos v. Political Scientists

Carlisle Rainey discusses a potential reason political scientists and political reporters have different views of campaign effects: they use different underlying counterfactuals, in two senses:

First, political scientists tend to discuss the effects of small changes in campaigns, while journalists tend to imagine big changes. Second, political scientists construct counterfactuals in which campaigns are responding to each other and cancelling out, while journalists tend to hold one campaign constant and vary the other.

Romney's Swing-State Dilemma

(Flickr / Gage Skidmore)

Before Mitt Romney's Bain Capital problems seized everyone's attention, we were hearing about a different political minefield the candidate had to maneuver: While his campaign is based largely on the country's economic woes, several GOP governors in swing states were claiming economic success and recovery. Wisconsin Governor Scott Walker spent his recall campaign pointing to the state's recovery, while Virginia Governor Bob McDonnell launched his own ads showing his state's progress.

Will Bain Actually Matter for November?

Over the last week, Mitt Romney has struggled to deal with revelations over his tenure at Bain Capital and the extent of his involvement from 1999 to 2002. He insists he retired in 1999—and thus is not responsible for Bain’s conduct afterward—despite the fact that documents from a variety of sources show Romney as the owner, CEO, and sole shareholder, who continued to sign documents, sit on board members, and may have had a small role in managing the firm.

A Few Questions That Would Clear Up This Whole Bain Thing

The question of when exactly Mitt Romney "left" Bain Capital may not be the most trivial campaign controversy in history (it certainly has more importance than the dozens of "My opponent said something that when taken out of context sounds troubling!" kerfuffles we have to suffer through every four years), but when it has gotten to the point that we're checking the Wayback Machine to see if Romney was listed on Bain Capital's website in 2000, we're drifting far away from the reasons this is supposed to matter. Just to remind you, Romney's departure date tells us whether he is an honest job-creating business leader (1999) or a rapacious job-destroying vulture capitalist (2002).

I was hoping that the five interviews Romney did with the TV networks on Friday might clear this up, but unfortunately they focused on things like whether Barack Obama's campaign representatives are super-meanies for how they're criticizing Romney. But a couple of simple questions might clear this whole thing up so we can move on. If I had the chance to interview Romney (just so you know, Governor, the Prospect's doors are always open), I'd ask this:

Wag the Veep

Yesterday, as the Romney campaign was drowning in revelations and nagging questions about his time (and maybe-time) at Bain Capital, mysterious “sources” apparently decided it was an excellent time to call Matt Drudge and dangle a shiny pseudo-scoop in front of him. Former Secretary of State Condoleezza Rice, he breathlessly reported at 7:30 p.m., is “now near the top of the list” to be Mitt’s vice-presidential choice. Why? Well, apparently because she gave a real nice speech at the Romney retreat in Utah recently.

No, Candidates Don't Have to Lie

Lies lies lies yeah!

We reached some kind of a milestone this week when the Romney campaign decided it would use the word "lie" when complaining about criticisms the Obama campaign is making of the Republican soon-to-be-nominee. It's a word journalists almost never use, since it sounds too judgmental and they know they'll be accused of taking sides, and candidates seldom use, perhaps because it sounds too whiny, I'm not precisely sure. What we do know is that while some candidate are bigger liars than others, no presidential candidate seems capable of getting through a campaign without saying things that aren't true. Conor Friedersdorf asks, "Can anyone become president without lying? Without misrepresenting their opponent? Without using people as a means to an end? I don't think anyone can." The complaints about Barack Obama he cites are more about broken promises, which are different from lies, but I'll grant that Obama has said some things that weren't true. Yet I'd have to disagree.

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