It’s kind of funny to watch Mitt Romney nestle up to the American working man of the mid-west. You see it all over Iowa as if he feels in his heart of heart… he understands their problems and really feels their plight. The man who once joked he was “also unemployed” to a table of alleged people in Florida who were actually… unemployed. All this despite that he sits on a net worth that’s said to be over 200+ million. Hardly, the same situation the almost 10% of Americans face, no doubt.
See, Romney chooses to be unemployed. He quit his job as Governor. What has he done since? He’s run for President ... yes, for four years. So, in reality, Romney should be the shoe in for the Republican nomination. He has obviously concentrated four years on this moment, thus his organization is strong and built up. He has the biggest war chest of anyone running. Last but not least, he has K-Street and big business on his side.
Politico ran a story in July about the super PAC: Restore Our Future, where 90 of the wealthiest citizens poured in 12.2 million dollars for Mr Romney. This was the same month where Jonathen Martin of Politico reported a fundraiser where Romney joined Trent (super lobby) Lott in a “lawyers for Romney” dinner that included a who’s who of lobbyists. According to OpenSecrets.com, Romney at this time, leads all candidates (including Pres Obama) in fundraising in the following sectors:
Commercial banks
Hedge Funds & Private Equity
Securities and Investment
And not just leading; he’s cleaning up, at a rate of at least 2:1 in all three sectors. Why do you suppose Romney attracts the elite? Because, Mr. Romney is quite frankly, one of them. Good or bad he is big business through and through. He’s Wall Street incarnate. He presents both the ideals and the soul of Wall Street. That isn’t necessarily bad, but the soul and ideals of Wall Street are on separate paths.
The soul of Wall Street was and will always be the investing in America. It’s the place where mice become giants; both individually and corporately. It goes back to the time where people bought into companies for the long term because they believed in them. Not because of some algorithm or day trader of the modern era... it was but the true investing in the future of Americana. Mitt Romney is proof of that. He climbed the ladder. However, the ideals of Wall Street are much less clear. The best description would be murky at best; while many might say – haughty and insatiable. And it appears that is how some see Mr Romney as well.
This is a guy who made a fortune off leveraged buyouts; buying up struggling companies (with borrowed money) and then slashing personnel, shipping jobs overseas and selling off assets to pay off his company; while many of them filed for bankruptcy afterwards. If he views corporations as people, what does he see the people inside those corporations as? This is hardly a job creator...think of him more in the Ryan Bingham mold. But, its part of that Wall Street ideal he is a part of. How can anyone go into a job creation business (i don’t agree with this Presidential notion of job creating, it’s the general economy, but I digress) when all they have done is take them away?
Some might point to his tenure at governor where he left with a 2 Billion dollar surplus as an indication of fiscal conservatism and it would be hard to argue but should the government be running a profit? If you think about it, shouldn’t all levels of government look to break even? In an economy where jobs are at the forefront his term as Governor paints a picture that isn’t as rosy as his profits. According to the Bureau of Labor Statistics, in his time in office the state only seen 1.2% more jobs then when he entered office, hardly a guy “who knows jobs”. If you factor in population and other variables; 1.2% isn’t worth a hill of beans. In fact during that time period, it ranked 47th in the nation.
What does this all mean? It means the country faces an era of uncertainty and a looming battle for what we want and how we will have to pay (without borrowing) for it. There is going to come a time where Americans have to understand that our way of life as we know it cannot be sustained on its current path and tough choices are going to have to be made. Is Mitt Romney a guy to do so? On the outside it appears, yes, he is. He has the credentials and the reputation as a “cleaner” and in this environment that could play well; we need someone to do just that, clean up the mess in Washington. However, underneath the surface what does that entail? His constant politicking and coming off chameleon like has put people off and the perception is he will say anything to anyone to win their vote; that just isn’t principled.
Then you have his ties to Wall Street. President Obama ran on a platform that was about as anti-establishment/Wall Street as you can get; however his cabinet was anything but. We didn’t see any change but instead more of the same old failures. How will Mitt Romney be any different, despite his proven ability to do so? From my view it’s hard to take the Establishment out of an Establishment candidate and if his backers are any indication - it looks like business as usual.