Thursday, January 12, 2012

Romney's Kinsley Gaffe

In U.S. politics, a Kinsley gaffe is an occurrence of someone telling the truth by accident... The term comes from journalist Michael Kinsley, who said, "A gaffe is when a politician tells the truth."
Mitt Romney's Kinsley gaffe comes in his defense of his work at Bain Capital:
“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,” Romney said Wednesday on CBS.

President Obama has publicly touted his plan to “retool and restructure” the auto companies as “an investment in American workers.” Romney was strongly opposed to the auto bailouts, but on Wednesday likened the president’s strategy to his own.

“We also had the occasion to do things that are tough to try and save a business,” he said.
Watch the video.

It's an awfully awful comparison, but I suspect there's more truth in Romney's statement than he would care to admit.

With all of the cronyism and government bailouts at Bain, I fear that Romney’s accomplishments there exemplify the beauty of capitalism in the same way that Romneycare exemplifies the beauty of free markets.

Revealed: Bain & Company advised Obama on auto bailout, recommended cutting dealerships...

Does it matter that Romney hasn’t worked for Bain & Company in nearly 20 years or are the optics of this one bad enough to make it newsworthy regardless?

...The NYT reported recently that to this day, as part of the deal he negotiated when he left, Romney still gets a share of Bain Capital’s profits.
Uhm, let's see... Romney's buddies at Bain (a company Romney co-founded) worked with Obama on the fiat-market, counter-capitalist, jobs-killing auto bailout. Does that look bad? Yes it does.

Call it the Obamney Bailout.

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