When Will Somebody Bain Obama
I’m waiting for some smart cookie to turn Obama’s anti-Bain spots on their head.
He’s created the opening, and it’s only a matter of time.
And there are a couple ways to go:
Obama has not exactly enjoyed success with the startup funds and loan guarantees he funneled to his pet projects.
According of Marc Thiessen of the Washington Post, there was Raser Technologies, awarded a $33 million grant to build a power plant, which recently filed for bankruptcy; ECOtality, given $126 million to install electric car chargers in five states, which recently reported a $45 million dollar loss; Nevada Geothermal Power, which received a $98 million dollar loan guarantee—it’s auditor recently said there is ‘significant doubt’ about the company’s ability to continue; Abound Solar, recipient of a $400 million loan guarantee, which in February halted production and laid off nearly 200 employees; Beacon Power, recipient of a $43 million loan guarantee, which recently filed for bankruptcy.
Worse, reports Thiessen, 71% of the Energy Department grants went to individuals who raised money for Obama, or served on his National Finance Committee, or gave substantial sums to the Democratic National Committee.
And from Karl Rove’s excellent WSJ piece of May 10…after forcing GM and Chrysler into bankruptcy, Obama closed thousands of local dealerships forcing the layoff of 100,000, compelled GM and Chrysler to shed thousands of jobs, and loaded both companies with debts that they cannot pay. The bailouts cost $80 billion, of which $51 billion is still outstanding. In the process, Obama wiped out the holdings of the secured creditors, including pension funds, retiree accounts, and endowments.
The ads that turn the table on Obama’s anti-Bain ads are inevitable…and they will sting Obama when they come. And when it happens it will illustrate an important point about negative ads—which is you had best be careful about accusing your opponent of sins of which you may yourself be guilty.
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