And a Brief Update on Our “Are We All Commies Now?” Stance on Bain Capital

We stand by that we should be vewy, vewy careful (if we are indeed to call ourselves “free market conservatives”) about attacking free market businessmen engaging in free market capitalism.

But in the MittBot camp, that perfectly defensible point of view has apparently morphed into “you can’t criticize anything an individual does under the banner of free market capitalism.”

Let us make one thing clear here: Free market capitalism sometimes leads to bad results. It’s the nature of the beast when you’re talking about anything “free.” Being free to do good also means being free to do bad. What makes it still the best way to go is that every single one of the alternatives being several orders of magnitude worse. Just like democracy is a horribly inefficient way of running a country, yet it remains infinitely preferable to each and every one of the alternatives.

With the exception of the wise, benevolent, absolute rule of His Imperial Majesty, Misha I, of course. But we digress.

What His Majesty is defending against the attacks on Bain is not every single individual action of theirs, we’re sure there were some pretty questionable whoppers in there as is always the case where imperfect, flawed humans are involved, we’re defending the practice of free market capitalism. We’d be surprised if one couldn’t find at least one, and probably numerous, examples of Bain Capital screwing somebody over royally for no good reason other than to line their own pockets, and those individual instances are, of course, very much legitimate targets depending on one’s personal point of view.

That’s not the same as being “anti-capitalist” overall.

Let us not forget that Hugh Hefner is a pretty damn successful capitalist too, just to name one. Does that mean that we have to defend every single thing he built his fortune on? Try to convince us. We’ll be only too happy to unleash the full fury of the Imperial Sarcasm Star on you. But we will defend his right to use the free market to succeed, and we will happily point out that his success would have not been possible if there hadn’t been any buyers for his filth. For that is how capitalism works and should work. No matter what your product, its success relies and should rely entirely upon there being a market for it, so the ones who buy your product are every bit as responsible for your success as you are.

And, of course, from a purely pragmatic point of view (and aren’t we always told by the MittBots to be “pragmatic?”), no matter what the actual circumstances and merits of each individual Bain case, perhaps running for president in the worst economy in living memory with a background of having killed jobs isn’t the best platform you can stand on. No, I don’t really think that any amount of Power Points and spreadsheets, no matter how much they speak the truth, is going to drown out the cries of “people lost their JOBS!” in an election where jobs are the top concern on every voter’s mind.

First we had McCain.

Now we might end up with McBain.

Fucking great.

Thatisall.

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angrywebmaster
angrywebmaster
January 12, 2012 17:57

I’m not thrilled with Mittens work at Bain, but Mitt and Perry reduced to using Obama’s talking points? Can’t they do better than that? Well, here’s hoping for a brokered convention. I would love to see a draft Palin, Jindal or Rubio floor fight. In fact I think a Jindal/Rubio ticket would be Just the ticket! Or a Rubio/Jindal ticket..… Read more »

Mark12A
Mark12A
January 12, 2012 18:32

Sure, people lost their jobs with Bain Capital, but the circumstances (at least in the video that the Obama News Network or whatever has put out) lead to no other good business decision. A company that’s going broke because of very generous union contracts and Bain takes it over to try to turn it around. They get zero cooperation from… Read more »

LC Old Dog
LC Old Dog
January 12, 2012 19:53

Mark12A @ #: Wish I had time to do some research! The two examples that Perry is using in his big punch are from South Carolina. Born and raised in NORTH Carolina I know that South Carolina is a Right to Work state. Thus how did Unions cause the problem. Are we all falling for a Disinformation Campaign? If so… Read more »

LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
January 12, 2012 20:17

Companies that are “too big to fail”, won’t. If they do, they weren’t. Any product that people want/need will be provided by someone, thus more companies are created.

Qoheleth
Qoheleth
January 12, 2012 20:42

I do NOT get it. I simply to not. Per Drudge, Gallup is reporting that “Conservatives Remain the Largest Ideological Group in U.S.” Forty percent of all Americans; seventy-one percent of all Republicans (20% “very conservative,” 51% “conservative”). So explain to my precisely how Romney, arguably the leftmost candidate in the field of Republican candidates, is becoming the putative anointed… Read more »

LC Random Numbers
LC Random Numbers
January 12, 2012 21:02

I don’t think it is anti-capitalist to suggest that someone who repeatedly ran up debts for companies he controlled in order to generate fees for his own company, without any intention of repaying said debt, is the type of person the GOP should have as it’s standard bearer.

Guest
January 12, 2012 21:15

KArnold @ #:

Per Herr Goebbels “Tell the lie enough until it becomes the truth.”

They did it with the two previous dinosaurs that the RINOs giddily put up for slaughter (it was their turn you know) and they’re doing it again. I don’t think we’ll even get lube this time, we’ll just have to take it…dry.

Blackiswhite, Imperial Consigliere
Blackiswhite, Imperial Consigliere
January 12, 2012 23:00

If you are so desperate that you are attacking and sounding like a OWS fleabagger, then it has more to do with ego than it does with love of country, and maybe you should just piss off. There is plenty of obvious stuff to go after Mitt for without doing something that plays right into the rhetoric of people who… Read more »

LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
January 13, 2012 00:48

Blackiswhite, Imperial Consigliere @ # 8: Precisely. Damn that was good!

LC Gladiator
LC Gladiator
January 13, 2012 10:18

I really do like Perry. But he has run his campaign like another GOPer from 2008, Fred Thompson.

LC Gladiator
LC Gladiator
January 13, 2012 10:42

Meanwhile as we bitch about Romneys Bain; Obama on Pace to Borrow $6.2T in One Term—More Than All Presidents from Washington Through Clinton Combined Cybercast News Service, by Terence P. Jeffrey President Barack Obama has been increasing the national debt during his presidency by an average of $4.24 billion per day ($4,240,506,004.34) putting him on a pace to increase the… Read more »

Blackiswhite, Imperial Consigliere
Blackiswhite, Imperial Consigliere
January 13, 2012 10:54

I kinda like the term coined by Rick Perry when it comes to Bain Capital: Vulture Capitalism. Of course you do. It’s tailor made for the left. Short, so it doesn’t tax the average lefty’s three functioning brain cells to remember, and clever, in a 3rd grade penis joke sort of way, so it will also make the average lefty… Read more »

Mark12A
Mark12A
January 13, 2012 10:55

LC Old Dog @ #: Can’t help you with the names of these companies, but there are even unions in right to work states and they do dumb things. I’ve had the same thing happen in my experience…one of my suppliers was costing themselves out of my market anyway but they wouldn’t budge due to union rules. So I fired… Read more »

Blackiswhite, Imperial Consigliere
Blackiswhite, Imperial Consigliere
January 13, 2012 11:03

That $6.2 trillion is more debt than was accumulated by all U.S. presidents from George Washington through Bill Clinton combined.

And who says he doesn’t like to work? He certainly is putting a lot of effort into destroying the dollar.

LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
January 13, 2012 11:19

Blackiswhite, Imperial Consigliere says: Fuck. Me. Running. I have no love for Mittens. I really don’t. I’d have a hard time even stoking the urge to piss on him if he were a flaming Taliban corpse, and the burning goat hair smell was in my eyes, but its this kind of shit that actually makes me defend the guy. You… Read more »

Mark12A
Mark12A
January 13, 2012 12:06

If you’re on a government contract, they’ll tell you what an acceptable profit margin is. But outside? How about however much you think you can get away with. Of course, the higher your profit margin, the higher your cost is. And that leaves you vulnerable to someone who’ll be happy to take a little less profit from a lower price… Read more »

Cannon Fodder
Cannon Fodder
January 13, 2012 12:50

I live in South Carolina. We do have some unions here. Just not a massive amount of them. Personally think they were outlawed. At least their present form.

LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
LC Sir Clambake, Imperial Black Ops Technician, K.o.E.
January 13, 2012 13:40

Mark12A @ # 17: Exactly. That’s how it works.
Mark12A says:

And that leaves you vulnerable to someone who’ll be happy to take a little less profit from a lower price and take your business away from you. That’s capitalism. It may suck, but it sucks WAY less than the alternatives.

LC Gladiator
LC Gladiator
January 13, 2012 14:56

There is an excellent article on Bain and Mitt Romney’s work in Bain posted on the PowerLine Blog. “What is Private Equity All About, Anyway” see:

What Is Private Equity All About, Anyway?

Mark12A
Mark12A
January 17, 2012 12:35

Blackiswhite, Imperial Consigliere @ #:
Blackiswhite, for accuracy such as that we would call out “Shack!” in bombing competitions. Dead center strike.