romney, as seen by the american people, lacks credibility. and this ad draws to the issue about him being incredible, of him lacking a consistent narrative other than he doesn t tell the whole story. i don t like the ad, but guess what, it goes to the point which he can t seem to put all the facts out there. and then guess what? the obama campaign will. i think there is something notwithstanding what jimmy said, there is good capitalism and bad capitalism point. the private equity model has a lot of issues you can raise with it. borrowing lots of money and immediately paying that out in fees so the private equity firm is taking basically its entire liquidity out front and based on what it has afterwards, it s not like a microsoft or steve jobs or entrepreneur who is just creating jobs. but if he has to explain what this is, it s already a losing battle. let s face it, there was also a romney ad that had a bunch of people praising what he had done
law into effect. the fed and others are filling in the colors to paint the picture. they re working on the final version of the so-called bocar rule for hedging by the bank using congress men s money. now, back in february, jp morgan chase sent a 67-page letter to these agencies complaining that the proposed rule was way too broad. they said that the rule would hurt american companies. they said the new rule would impose high costs on banks and companies and the american economy. they said the banks need to hedge their trades in order to protect the safety and soundness of banking itself. and my own personal favorite, they complained that the proposed rule wrongly assumes that banks will try to, quote, camouflage prohibited trading in order to evade the law. the nerve! the problem is, it seems that at the very moment jp morgan chase wrote that letter, they were engaging what ceo jamie dimon
companies that came in made money is irrelevant. bain capital always made money. if we lost, they made money. if we survived, they made money. on the today show this morning, a senior romney campaign adviser fired back. have a look. these attempts by president obama to distract from his own poor record on the economy is the biggest smokescreen since mt. st. helens erupted. karen, i want to start with you on this. i m curious from a political angle, ads like this and the painting romney and the bain capital tenure as heartless, evil, repatious capitalists, i have a feeling most voters have a feeling on this already. what s the strategy on this? number one, most polling, believe it or not, shows us that with the public at large there is still a lot of room to define romney, because while his name recognition has gone up and some
and the right doesn t necessarily want to think about what jesus had to say about wealth and money. so people on both sides sort of fit a jesus to their own premises rather than confronting a jesus who challenges them, you might say. is this both a failure of the traditional institutions to hold fast or adapt, or is it a matter of some of the new institutions that you critique, i think, almost pandering, that s probably the wrong word, but cling to people s desires, perhaps, than the more demanding ethic that christianity would impose. you see a lot of figures in our culture. i mention joel ostein, but ktupc chopra, any religious person.
right? as long as you have enough protection and enough buffers so the taxpayers are not on the hook, who cares, right? again, what we re seeing at the core of this and i think what most americans take away from this is that actions and consequences may again be disconnected. potentially they will do clawbacks. i hope they do, because can you imagine when they do their been us reportings and people seem to be getting lots of big bonuses, because as you pointed out, they re going to still make money. but yet it just doesn t sound right. but i think part of the problem to susan s point about the regulators were in there, i think part of the problem is, again, i don t actually think the people who were working at the bank know more than the regulators. i think part of the problem is that too many people don t actually know what s really going on, and i think you re starting to see, sort of, at the grassroots level is actually some conversation coming both on conservative circles and m