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Romney Hurt by Rich Guy Gaffes, Conflicts of Interest, Vulture Capitalist Habits

By March 5, 2012

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It makes good sense that Republicans will move a giant step closer on Super Tuesday to giving the presidential race nod to Mitt Romney.

Amid a weak field of conservative extremists, hysterics, and misogynists, former Massachusetts Gov. Romney is the only Republican candidate left standing with any chance to beat President Obama in November.

But Mitt "Corporations are people, too" Romney, astute founder of venture capitalist Bain Capital, has many political achilles heels that could prevent him from winning the 2012 election... none more potentially crippling than his vast wealth. Three aspects of Mr. Romney's $250 million personal fortune could handicap his pursuit of the presidency:
  • Bain Capital's brass-knuckle business practices, or for that matter, the appalling business practices of all "vulture" capital firms.
  • Tangled conflicts of interests posed by Romney's ongoing reliance on Bain Capital as a major source of his personal annual ncome.
  • Mr. Romney's continual rich guy gaffes that gloriously display his insensitivity to how the other 99% lives.
I was stunned to recently read that in 2010 and early 2011, Romney still reaped "at least $9.6 million" in investment income as a retired Bain Capital partner, equal to more than one-third of the $27 million earned in 2010 by Mr. and Mrs. Romney.

I was stunned because nearly $10 million in annual investment income means that the Romneys directly depend on strong financial performance of hundreds of companies... creating hundreds of personal conflicts of interest should Mitt Romney be elected president.

Romney Profits from Limbaugh Slurs?
For one blaring example, one smart blogger did his homework, and realized that Bain Capital is joint owner of Clear Channel, owner of 850 radio stations as well as "Premiere Radio Networks, the company that syndicates the radio shows of Rush Limbaugh, Sean Hannity, and Glenn Beck, among others."

Wonder why Mitt Romney long demurred commenting on Rush Limbaugh's crude smears of a Georgetown law student? Could be it because Romney earns more money when Rush's broadcast prospers?

The question could even be fairly asked: Is the apparently ideology-free, flip-flopping Mr. Romney newly spouting conservative stances in 2011-2012 to aid Bain portfolio investments in Limbaugh, Hannity, Beck, and other highly profitable conservative broadcasters?

Romney's Rich-Guy Gaffes
But Americans might be more swiftly and easily repelled by the myriad of Mitt Romney's rich-guy gaffes, which the Wall Street Journal hilariously lists at Romney's Top 10 Wealth Gaffes.

How hilarious, though, are Romney's elitist gaffes in the 14 battleground states in the 2012 presidential election? Will Romney's wealth-based insensitivity feel funny or deeply painful to residents...
  • In Nevada, which has experienced the highest home foreclosure rate for several years?
  • In Ohio, where 15.5% of all employees in the state are hard-working members of labor unions?
  • In Florida, where 17.3% of the population are senior citizens, a huge portion of them heavily dependent on Social Security and Medicare?
  • In New Mexico, where 21% of residents had no health care insurance from 2005 through 2011?
  • In Wisconsin, where voters are furious over $2.6 billion in cuts to public education and vocational training made by Tea Partier Gov. Scott Walker?
  • In Missouri, where 13.4% of residents live on incomes below the poverty level?
  • In Michigan, where more than 801,000 residents, 19.6% of all state workers, are labor union members, most of them associated with the thriving, post-bailout auto industry... when he refused to support the bailout?
Yes, given the extremism of officially-declared 2012 Republican presidential wannabes, Mitt Romney is the most sensible choice in the field.

But Mr. Romney's elitist rich-guy gaffes, shock-and-awe business practices as a venture capitalist, and conflicts of interest (as of yet, largely unexplored by the media) very well may render him unacceptable to voters in the 14 battleground states that will decide the 2012 race for the White House.

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