Not A Great Day For Mitt ,Again

After getting the basic rave-up from the Economist in their list of Republican contenders, you would think Mitt would be on track. But after the Washington Monthly and the Boston Globe torpedoed Mitt's reputation as a job creator as governor,a blogger dug up the Josh Kosman piece in the New York Post (February 20,2011), which demolishes Romney's record at Bain Capital. Koshman asserts that Romney made his fortune on the back of companies that ultimately collapsed, putting thousands of Americans out on the street.

The article titled "Romney's past is more a working class zero" claims that Romney's firm bought companies and often increased short-term earnings so those businesses could then borrow enormous amounts of money. That borrowed money was used to pay Bain dividends. Then those businesses needed to maintain that high level of earnings to pay their debts. Naturally many of these companies didn't make it. Some of these companies were Stage Stores, American Pad & Paper, GS Industries, Details and Dade's.

While the business deals are probably too complex for the average voter,Romney's involvement in the type of trades that brought the economy to collapse will register. Then he argues that his healthcare plan was "an experiment" using the Dr. Moreau argument last heard by Marlon Brando in the movie of that name.

But if Romney can't create jobs like he says,Newt is having trouble interesting anyone in his campaign. So far a mere 5,000 people have logged into his website. Hardly the popular endorsement you need. However, Newt thinks this is exciting. Unfortunately, as the people at Washington Monthly note, you should not share this number with anyone.