Why Obama Is Struggling to Paint Romney as a Wall Street Fat Cat

Jun 18, 2012 Full story: www.theatlantic.com 58

Americans have a dim view of the financial sector, but they're even more skeptical of the government the president heads.

Last week, Barack Obama's super PAC released its latest ad framing Mitt Romney as a de-industrial profiteer. A working man stands outside a vacant plant and says, "Romney and Bain Capital shut this place down. They shut down entire livelihoods."

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Robert

Hollywood, FL

#43 Jun 19, 2012
PayThat CEO wrote:
<quoted text>
The ONLY people making any REAL money off OUR money are those who manipulate it.
you can work harder or you can work smarter, the trenches are not for everyone.

Since: May 11

Location hidden

#44 Jun 19, 2012
Mr_Bill wrote:
<quoted text>
No, Robert, the CLASS WAR has been going on against the American Middle Class by Romney, and people like him.
Not envy, not 'stuff' but real as rain. Very real.
Romney basically offers nothing. he criticizes, but tels us nothing about his 'solutions' except a general feeling of returning to the policies of GW Bush.
Not what I want. Not indeed.
The middle class has been torn apart. Middle class used to mean working people...your mechanics, truck drivers, construction workers, firemen, factory workers, store clerks, waitresses, teachers, bus drivers, maintenance workers, welders, plumbers, electricians, security guards, secretaries, police officers, window washers, day care workers, delivery drivers... all the workers who did the day to day jobs that kept the country moving along. Rarely did any of them make over 6 figures a year.

These hard working people have been demoted to somewhere just above homeless drunk and a new breed of "middle class" has taken over. These are white collar upper level management folks or high level administrators who make more money than they're worth and have an attitude about as obnoxious as the backend of a skunk. They have no respect for anyone 'beneath' them and they think they're owed special treatment for having been one of a zillion college graduates with an MBA. They think they can relate to wealth and they admire the wealthy, when in fact, the type of wealthy they admire wouldn't piss on their shoe if their foot was on fire. This admiration for super wealth is a remake of our own Victorian era when high society was all the rage.

And then the Depression hit and many of America's wealthiest lost everything and the Guggenheims' went down with the Titantic, so there wasn't much to envy and admire about the wealthy.

We're coming up on similar circumstances. Everyone is money-hungry. It's become a national obsession. And once again we're in awe of wealth and how to get it. No one is satisfied. No one is content. No one will share. And everyone who isn't wealthy is seen as unsuccessful, lazy, worthless, and less of a person.

I don't think we far off from another financial collapse. Nothing brings people together quite like the need to share food.

Since: Jul 07

Newport News, VA

#45 Jun 19, 2012
PayThat CEO wrote:
<quoted text>
I'm sick and tired of hearing about work, invest and greatly improve your financial and social situation.
WTF??!? Is everyone in America suppose to get a Subway franchise or run a lawn service in order to be considered something in this country these days? What about those of us who actually do that damn work? While people like Romney sit on their tail and manipulate money back and forth and make a fortune, the people doing the REAL jobs get screwed when he decides to close the doors on them.
I'm tired of only hearing about the upper echelon of business. There used to be a time when those in the trenches where considered as important to the success of the company as those at the top. I'm fed up with the attitude that power and money are everything. Just because I vote a certain way has absolutely NO bearing on how hard I work or whether or not I want to improve my "lot" in life. I'm not interested in voting for a money changer only interested in big business. I'm concerned about what happens to the people of America, especially those who work the hardest - and there are millions of them.
i'm sick and tired of hearing people say that all that rich people do is sit on their butts and manipulate money and make millions on the poor serfs under them. that is just plain silly. most of the millionaires in this country got there through pluck, sweat and hard work. the only difference between rich people and poor is the zeros in their bank accounts. take your class war elsewhere...
Eleanor

Mundelein, IL

#46 Jun 19, 2012
PayThat CEO wrote:
<quoted text>
The middle class has been torn apart. Middle class used to mean working people...your mechanics, truck drivers, construction workers, firemen, factory workers, store clerks, waitresses, teachers, bus drivers, maintenance workers, welders, plumbers, electricians, security guards, secretaries, police officers, window washers, day care workers, delivery drivers... all the workers who did the day to day jobs that kept the country moving along. Rarely did any of them make over 6 figures a year.
These hard working people have been demoted to somewhere just above homeless drunk and a new breed of "middle class" has taken over. These are white collar upper level management folks or high level administrators who make more money than they're worth and have an attitude about as obnoxious as the backend of a skunk. They have no respect for anyone 'beneath' them and they think they're owed special treatment for having been one of a zillion college graduates with an MBA. They think they can relate to wealth and they admire the wealthy, when in fact, the type of wealthy they admire wouldn't piss on their shoe if their foot was on fire. This admiration for super wealth is a remake of our own Victorian era when high society was all the rage.
And then the Depression hit and many of America's wealthiest lost everything and the Guggenheims' went down with the Titantic, so there wasn't much to envy and admire about the wealthy.
We're coming up on similar circumstances. Everyone is money-hungry. It's become a national obsession. And once again we're in awe of wealth and how to get it. No one is satisfied. No one is content. No one will share. And everyone who isn't wealthy is seen as unsuccessful, lazy, worthless, and less of a person.
I don't think we far off from another financial collapse. Nothing brings people together quite like the need to share food.
THERE STILL IS A MIDDLE CLASS consisting of "your mechanics, truck drivers, construction workers, firemen, factory workers, store clerks, waitresses, teachers, bus drivers, maintenance workers, welders, plumbers, electricians, security guards, secretaries, police officers, window washers, day care workers, delivery drivers... all the workers who did the day to day jobs that kept the country moving along."

Those who were fortunate to keep their jobs over the last several years are still doing just fine.

I don't understand why people whine about the small percentage of people who are struggling and yet give no recognition to the LARGER PERCENTAGE of people who ARE WORKING and are not affected by the downturn.

Like the GREAT DEPRESSION of the '30s -- this too shall pass.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#47 Jun 19, 2012
GoodNewz wrote:
<quoted text>
i'm sick and tired of hearing people say that all that rich people do is sit on their butts and manipulate money and make millions on the poor serfs under them. that is just plain silly. most of the millionaires in this country got there through pluck, sweat and hard work. the only difference between rich people and poor is the zeros in their bank accounts. take your class war elsewhere...
Not silly, reality.

Just how many are the self-made millionaires (the kind you talk about;) who built a great company, and run it, and keep their manufacturing and other operations in the USA are there?

Really, you worship a dream, smoke, a lie.
Put down the pipe, and open your eyes.

There has been a class war, and it is over and done.
As CEO said, the American Middle Class are done, history.

We have a new era of super-rich and poor, with few in between.

Since: Jul 07

Newport News, VA

#48 Jun 19, 2012
Mr_Bill wrote:
<quoted text>
Not silly, reality.
Just how many are the self-made millionaires (the kind you talk about;) who built a great company, and run it, and keep their manufacturing and other operations in the USA are there?
Really, you worship a dream, smoke, a lie.
Put down the pipe, and open your eyes.
There has been a class war, and it is over and done.
As CEO said, the American Middle Class are done, history.
We have a new era of super-rich and poor, with few in between.
the sky is falling also

“Orwell said this would happen.”

Since: Sep 08

Location hidden

#49 Jun 19, 2012
PlacitasRoy wrote:
<quoted text> As Warren Buffet has said so many times in so many ways: Sure there's class warfare...and my class is kicking your classes asses....BTW: 93% of the
Of course, Warren Buffett never actually said those words in that way at any time.

Since: Sep 08

Placitas, NM

#50 Jun 19, 2012
GoodNewz wrote:
<quoted text>
a fool is someone who holds on to one little figure and closes his ears to the main argument. whether this guy was correct on the hourly fees at some time is not the point. the article described how the bailout promoted the unions before other innocent bondholders. the taxpayers are still owed some 18 billion. GM is still uncompetitive, and you still think the rube in the oval office is a genius. don't delve too deep, do you?
The FACT is that the propagandist's 'report' was debunked. The FACT is that their latest article is at odds with damn near every other report reported by credible media. Heritage whores have spent the last 40 years in a mega-millin dollar propaganda effort and its insidious results shows how effective it has been.

On May 1st GM upped its full-year forecast for light vehicle sales from between 13.5 and 14 million to between 14 and 14.5 million.....Sounds like they are pretty competitive....because the President had the intelligence foresight and courage to prevent the auto industry's collapse which would have turned Dubya's GREAT RECESSION into the Repulbicons 2nd GREAT DEPRESSION.

Since: Sep 08

Placitas, NM

#51 Jun 19, 2012
GoodNewz wrote:
<quoted text>
i'm sick and tired of hearing people say that all that rich people do is sit on their butts and manipulate money and make millions on the poor serfs under them. that is just plain silly. most of the millionaires in this country got there through pluck, sweat and hard work. the only difference between rich people and poor is the zeros in their bank accounts. take your class war elsewhere...
I've never said the Banksters. fraudsters, everage buy-out bastards, and other con-artists sit around on their asses. It is hard work to scam as many people as they do. It is hard work writing all those checks to the whores in congress. It is hard work to keep those Reich-wing propaganda outfits spewing their propaganda 24/7.

But their hard-work does pay off....Helll they got 93% of all the income increases in 2010. The remain 99% got the whopping 7% that was left over.

When it come to class warfare, those elite bastards are kicking the middle class & working poor, and poverty strickens asses.

Since: Sep 08

Placitas, NM

#52 Jun 19, 2012
Get Real wrote:
Combine class warfare, demonizing the rich, getting as many people onto the welfare rolls as possible, and pushing the economic system to collapse and you have a flawless formula for Cloward-Piven 2.0 -- and a vehicle that ensures Obama remains in power.
Cloward-Piven is a much talked-about strategy proposed in the mid-1960's by two Columbia University sociology professors named Richard Andrew Cloward and Frances Fox Piven. The Cloward-Piven approach was sometimes referred to as the "crisis strategy," which they believed were a means to "end poverty."
Read more: http://www.americanthinker.com/2011/08/clowar...
Anyone who cites 'American Thinker' can't.

Since: Jul 07

Newport News, VA

#53 Jun 19, 2012
PlacitasRoy wrote:
<quoted text>
The FACT is that the propagandist's 'report' was debunked....
you do not address any of the issues, you simply say the report was debunked. your "knight in shining armour" rescued the car biz. wow, what a genius! the airline industry went thru non-taxpayer funded bankruptcy and survived quite well without the (still unpaid) taxpayer billions.

"Contrary to popular belief, bankruptcy does not mean companies close their doors and send employees home. This is the false message President Barack Obama tried to sell on his victory tour of Detroit. If General Motors had gone through a normal bankruptcy without taxpayer bailouts, there would still be GM jobs--maybe even more than there are now. We do not know because that was the road not taken.

We do know, however, what happened to the airlines that went through bankruptcy. Their planes kept flying, and pilots, mechanics and flight attendants reported to work, even if there were fewer of them.
Article Controls

Over the past decade, no industry has had worse breaks than the airlines. They took a huge hit from 9/11. They have been buffeted by fuel prices. The TSA's intrusive airport screening angered passengers. Furthermore, the airline industry is cyclical; it suffers disproportionately from economic downturns.

Compared to the airlines, GM has had a cake walk.

Indeed, four major airlines filed for Chapter 11 bankruptcy after 9/11 (US Air and United in 2002; Northwest and Delta in 2005). Each company was restructured by a bankruptcy court according to the rule of law. In each case, creditors took haircuts and employees lost jobs and agreed to concessions in wages and work conditions. Each airline emerged from bankruptcy and continued to operate as a going concern.

There were no federal bailouts of any note. Planes continued to fly. Pilots, mechanics and flight attendants continued to have jobs, albeit there were fewer of them and their pay was less.

The four airlines had 204,000 employees on the dates they filed bankruptcy. They had 164,000 on the dates they emerged from bankruptcy. By this measure, bankruptcy cost airline employees some 20% of their jobs. The costs of bankruptcy were borne by employees, creditors and other stakeholders. It did not cost taxpayers.

On the date GM filed its taxpayer-funded bankruptcy, it had 92,000 employees. After bankruptcy it shrunk to 77,000, for a 16% loss of jobs. The GM job loss was only four percentage points lower than the airlines, which were in much worse shape."

Forbes

Since: Apr 12

Location hidden

#54 Jun 19, 2012
PayThat CEO wrote:
<quoted text>
I'm sick and tired of hearing about work, invest and greatly improve your financial and social situation.
WTF??!? Is everyone in America suppose to get a Subway franchise or run a lawn service in order to be considered something in this country these days? What about those of us who actually do that damn work? While people like Romney sit on their tail and manipulate money back and forth and make a fortune, the people doing the REAL jobs get screwed when he decides to close the doors on them... EDITED ...
I'm old enough to remember when most of those people "working in the trenches" didn't even have a 'trench' of their own to work in, most of them were standing in soup lines just wishing they had a trench.

Back then those trenches were an improvement over where they came from and what they wanted for their kids was something better than the trenches they labored in.

Actually I think very few people who are actually doing the work in the trenches are complacent and wish to remain in the trenches, but obviously there are a few. But of those people I know very few are satisfied with staying the same, sticking to those trenches, most recognize there is something better and wish to improve their lot in life, if not for themselves - then for their children, that's why they are in those trenches to begin with.

Obviously 'PayThat CEO' appears to have a different view, or as 'Robert' says:
Robert wrote:
<quoted text>
you can work harder or you can work smarter, the trenches are not for everyone.

Since: Sep 08

Placitas, NM

#55 Jun 19, 2012
GoodNewz wrote:
<quoted text>
you do not address any of the issues, you simply say the report was debunked. your "knight in shining armour" rescued the car biz. wow, what a genius! the airline industry went thru non-taxpayer funded bankruptcy and survived quite well without the (still unpaid) taxpayer billions.
"Contrary to popular belief, bankruptcy does not mean companies close their doors and send employees home. This is the false message President Barack Obama tried to sell on his victory tour of Detroit. If General Motors had gone through a normal bankruptcy without taxpayer bailouts, there would still be GM jobs--maybe even more than there are now. We do not know because that was the road not taken.
We do know, however, what happened to the airlines that went through bankruptcy. Their planes kept flying, and pilots, mechanics and flight attendants reported to work, even if there were fewer of them.
Article Controls
Over the past decade, no industry has had worse breaks than the airlines. They took a huge hit from 9/11. They have been buffeted by fuel prices. The TSA's intrusive airport screening angered passengers. Furthermore, the airline industry is cyclical; it suffers disproportionately from economic downturns.
Compared to the airlines, GM has had a cake walk.
Indeed, four major airlines filed for Chapter 11 bankruptcy after 9/11 (US Air and United in 2002; Northwest and Delta in 2005). Each company was restructured by a bankruptcy court according to the rule of law. In each case, creditors took haircuts and employees lost jobs and agreed to concessions in wages and work conditions. Each airline emerged from bankruptcy and continued to operate as a going concern.
There were no federal bailouts of any note. Planes continued to fly. Pilots, mechanics and flight attendants continued to have jobs, albeit there were fewer of them and their pay was less.
The four airlines had 204,000 employees on the dates they filed bankruptcy. They had 164,000 on the dates they emerged from bankruptcy. By this measure, bankruptcy cost airline employees some 20% of their jobs. The costs of bankruptcy were borne by employees, creditors and other stakeholders. It did not cost taxpayers.
On the date GM filed its taxpayer-funded bankruptcy, it had 92,000 employees. After bankruptcy it shrunk to 77,000, for a 16% loss of jobs. The GM job loss was only four percentage points lower than the airlines, which were in much worse shape."
Forbes
I don't have to. The authors of the earlier propaganda POS 'report' was debunked. Ergo the authors have no more credibility than a 2 bit whore telling you she doesn't have the clap.

Comparing the airline bankruptcies and the auto industry's is comparing apples and horse apples.

And I don't blame you for not linking to the the op-ed by the Hoover Institutes propagandist. He demonstrates it is also a Reich-wing POS when he claims:'Contrary to popular belief, bankruptcy does not mean companies close their doors and send employees home." Only economic illiterates believe that crap.

or: "If General Motors had gone through a normal bankruptcy without taxpayer bailouts,..." There was NO WAY 'normal bankruptcy" was going to happen.

or "It [auto bailout]certainly hasn't saved millions of jobs--more like 4,000, and probably fewer...." There's not an economist, banker, business writer, or pension fund manager who would accept that BULLSH!T claim.

Since: Jan 10

Las Vegas, NV

#56 Jun 19, 2012
Smart, decent Americans know the "Wall Street" and "Main Street" are Chinese twins. If the monetary system is in trouble, there will be no employment, no production, no credit. And vice versa.

obama is trying to kill one of the twins. What will happen to the other?
Romney Loves Quiche

Matthews, IN

#57 Jun 19, 2012
Here in Vegas wrote:
Smart, decent Americans know the "Wall Street" and "Main Street" are Chinese twins. If the monetary system is in trouble, there will be no employment, no production, no credit. And vice versa.
obama is trying to kill one of the twins. What will happen to the other?
I agree with Sheldon Adelson,we must allow Wall St to continue to beat the crap out of Main St. Billionaires and millionaires must come first. Even before our veterans.

That's why we must vote for Mitt "Dainty" Romney.

Viva Le Romney Revolution.

We shall All Eat Quiche!!!
Mothra

Chandler, AZ

#58 Jun 19, 2012
Romney Loves Quiche wrote:
<quoted text> I agree with Sheldon Adelson,we must allow Wall St to continue to beat the crap out of Main St. Billionaires and millionaires must come first. Even before our veterans.
That's why we must vote for Mitt "Dainty" Romney.
Viva Le Romney Revolution.
We shall All Eat Quiche!!!
Loon.

Since: Jan 10

Las Vegas, NV

#59 Jun 19, 2012
Romney Loves Quiche wrote:
<quoted text> I agree with Sheldon Adelson,we must allow Wall St to continue to beat the crap out of Main St. Billionaires and millionaires must come first. Even before our veterans.
That's why we must vote for Mitt "Dainty" Romney.
Viva Le Romney Revolution.
We shall All Eat Quiche!!!
Remember last time the credit system locked up? Wasn't that long ago. Want that to happen again?

obama is toast. Except that fact that Romney will be President come Jan '13.
fargo

Duluth, MN

#60 Jun 19, 2012
Obama struggles to portray HIMSELF as Presidential material. That's because Americans are starting to realize he has no experience, no accomplishment and has NEVER had a real job in his entire life. He also had year & years of radical left-wing kook associates (including at least one terrorist) that he's yet to explain.

Obama is a light-weight nobody from Chicago who was elected for being black. Period.

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