Democrats divided on Obama camp's Bain Capital attack?
Our 'Power Panel' weighs in
- Duration 10:11
- Date May 23, 2012
Our 'Power Panel' weighs in
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And now the biggest political story of the last week they're growing concern among Democrats.
About how the president's reelection team's attacking Mitt Romney's time running Bain Capital.
A private equity firm.
A number of high profile supporters of the presidents have either challenge rejected or fail to support the president's line of attack.
It started last week but the president's former car czar Steve Rattner who called the attacks -- fair.
Then over the weekend Newark mayor Cory Booker now famously called the ad campaign nauseating.
Monday -- former Tennessee congressman Harold Ford -- Democrat agreed with mayor Booker and defended his remarks from attacks on the left.
And on that same day a second ad focused on -- was released and that uncorked a brand new round of criticism.
Tuesday in Massachusetts Governor Deval Patrick a Democrat said he respects private equity companies net -- is not a bad company.
Then the former Pennsylvania governor Ed Rendell a Democrat called the -- quote very disappointing.
California's senator Dianne Feinstein a Democrat suggested the president's campaign should quote move on -- other things.
And Delaware senator Chris -- who stopped short of criticizing the president says he hopes the campaign will focus on how to move this country forward.
And again all of these are Democrats and -- -- staunch supporters of the president.
Who says this.
This line of attack is what the campaign is about.
Joining united -- -- my power panel Mark Hanna.
Eight about the John Kerry and the Barack Obama presidential campaigns.
And a political consultant and -- -- a former speechwriter for president George W.
Bush and a media fellow at the Hoover institution not to mention columnist for the Wall Street Journal.
Also detained -- who is author of black flash and -- Fox News contributor so.
You know that the intro lays it out pretty well about the number of Democrats -- are now distancing themselves from from the White House a -- with you on this market as a Democrat.
Why why do these Democrats feel the need to criticize this line of attack and why is it's so important in the White House because boy have we seen the White House and its other -- Pushing back against those Democrats -- in a major way.
Sure no I think it's important to note right at the get go that the White House supports private equity thinks it's a valuable part of a capitalist economy.
But at the same time the moment that Mitt Romney makes his experience -- -- An issue in the campaign if it -- fair game so.
He's saying that this you know this experience as its chief executive qualifies him somehow is a credential for him to be president.
I think the president and the White House and everybody out there that's critiquing that.
Understands that it's been completely different enterprise to be president of the United States than it is to be a chairman of the company and and a world of high finance.
Bill let me ask you that sounds very reasonable right moment.
Is that the argument that -- that they're making that the White House at the reelection campaign is that I think they're making but look I think some of these Democrats realize.
This is not the path to victory look if you're Cory Booker and you're an executive you presiding over Newark what you need is private equity.
In that city these other people's realize this is an insane line of attack in the language.
Vampire and congressman the congressman said that they're reaping companies this is not a confident model of getting to the 21 century.
I sort of disagree a little bit when you say -- the president supports private equity in this the fact that he has to say that now.
Is because all the body language and all the attacks suggest otherwise cities in fact doesn't understand private capital.
All -- if it if you Texan Ben on how Mitt Romney and they take you there approach to being capital -- was a different sort of private equity firm reverses what the most you know the -- -- Maybe would feel different but it but.
You know it hasn't the -- that -- just media arguments on a very articulate and you tell me sounded reasonable the next.
But but it didn't sound exactly like he attacks we've heard against being prior to this whole bust up.
And -- -- Obama has been hypocritical with this whole private equity thing first she's demonizing Wall Street today's fund raising.
Awful Wall Street -- Blackstone.
Company for example.
But this just shows how desperate and how much trouble.
Obama's administration is in his base is fractured you have Democrats who are coming out complaining about his attack -- class warfare.
You have the unions who are up against him but -- analyst with the stance when it keystone XL pipeline.
You have black voters.
Who don't agree with him and his view on gay marriage and so now there are they're questioning his his his leadership.
Decisions as well.
So his base to me is fractured and this is a very serious concern for the White House and they are just trying to you know cover as much as they can but -- we'll see if -- war.
Markets -- -- it it's clear that the White House did not like what this Newark mayor said that I'm a lot of our viewers -- -- definitely with Cory Booker USA why is -- -- -- mayor of Newark causing such a firestorm.
Hasn't won here.
But clearly the White House cares because -- same day they cut he.
Then -- what they Obama campaign Press Secretary tweeted out a 352 of it that help was helpful the president.
Then David Axelrod comes out comments on that President Obama comes out in comments on.
Then Booker goes on MSNBC to talk about it some more -- -- I -- is clear they did the White House the campaign.
About the president's didn't like what he said.
Why there's so -- well first -- -- -- brokers are rising star in the Democratic Party he's rock -- mayor from the city of -- he's doing great things for the city that was a very economically depressed city.
So I think there's a lot of attention paid to what Cory Booker says.
I think Cory Booker is general point.
That he loads the campaign -- marked by ad hominem attacks -- and you know market negativity.
Got lost on the fact that we what do you study to the president by anybody but he didn't present any criticized other Jeremiah Jeremiah Wright.
-- -- and everybody expected him to do that -- surprising gradually after his own party but I think Cory -- upon reflection realized that his his major point was lost in the fact that.
You know what private equity equity companies are great but the fact that Mitt -- making it an issue brings it up you know is it fair game for critique I think.
People I've listen I've worked been in business -- went you know I studied the Wharton school of business I've.
Have some understanding of how to -- have a lot of friends working in private equity and they're making a lot of money.
Short term profits for their investors it's not a bad thing it's not something that Mitt Romney and Democrats don't think -- -- -- at the Oscar now.
-- what the liberals -- because he strayed off their plantation of what their message points for that's what happened with him I'm very disappointed because he backtracked.
On his -- he was speaking the truth how he really felt.
And that morning 'til that afternoon he had that video loud and they edited I'm very disappointed yeah.
It's great posit what did it cause more harm than good I didn't making it such a big deal because now you -- -- Democrats had talked about intro.
Who then -- -- I feel the same as Cory Booker right.
Right I I think this -- been -- a disaster for the White House and it's focusing on the real problems that rhetoric has consequences.
Business is very nervous about about this White House -- yesterday Joseph Biden went out there and said.
Being -- and being finance here makes you know more qualified to be president -- a plumber but we'll -- I had -- -- it's true in some instance I want to detect that something.
Really I would -- of our great -- I'd -- both of them over senator.
-- no executive experience and I think that's what we're seeing this is a real amateur hour and it looks like they do not understand this the fact that they now have to say.
They support private equity is because all their body language.
All -- stories about profits all they're all there the way they've they're regulating things in taxes suggests that they don't understand the dynamic -- private equity.
And Cory Booker is a reform mayor because he's taken on business as usual in a democratic city.
Government heavy democratic city.
Here just hobble the president in his effort to use this argument on -- go forward basis because now it has a little -- X next to over a minute the American people to -- -- real quickly I wish she was making this point -- when you Gingrich you know on Governor Perry relating these.
He's we think they let me know talking about -- -- -- -- -- -- I can't President Obama is taking a slight but if you change hearts revenue.
-- all you.
Point you know I didn't make that point I think I think the White House will will stop using this line of criticism and we'll stop making this contrast as soon as Mitt Romney's campaign stop saying that he somehow created jobs of depravity -- private equity all the White House he hasn't been on now is class warfare they can't run on Obama's -- -- Unemployment look at the high energy prices we're experiencing people.
All of -- and -- Americans on food stamps he let you -- a -- -- -- amount to Colin Powell just came out and said he applauded -- committed to be president for stabilizing the economy that was on the financial brink now.
There's a difference between being able to go win.
You know streamline operations.
Slash wages you know cut a couple redundancies and be a private equity you know the person the businessmen working in private equity than being the president of the United States.
Regardless of all yeah let me just ask whereas it was interesting to -- that as rabbi came in defending this and said this is what the campaign is about this.
This is what the complaints about Mitt Romney's record of being.
Well let's go with whatever right at weather record does he have the record of the governor of Massachusetts my home state where he -- yeah.
I guess that's the well -- will then let's make it about I don't.
That's -- why why why is the president saying it's about Mitt Romney's record -- why don't you probably has made it about that and I have you -- were using words again let's get back that the original vampire and the.
This this is that was serious -- snooping -- even.
-- -- you -- the notable that the election had beanie that labels they don't work that we have another agent worker who got laid off fans admire them entirely voluntary.
Get the next one is -- words are very Smart this is not a serious argument.
I'm and it suggests that they don't understand how business works and they so they spent all these years attack -- attacking business.
Attacking profits and so forth and now they say gee we're in favor private equity I just think it's a hearts they've made it.
A very hard -- I would have yet -- and you did very well you know that you will lone Democrat on the panel I don't Britons being -- up and and to be stupidity just the facts.
I got it out thank you both so much next time we'll do two Democrats and one Republican that you feel better than expected -- -- --