The trouble that Romney is having now with his past association with Bain Capital, illustrates the class warfare at the heart of the economic crisis, and the structure of the US economy. But I hardly think that Obama is any less of an advocate of the type of financial capitalism that caused the crisis and helped Romney accumulate his vast wealth. But this is interesting in how the mainstream, pro-liberal press is starting to talk about class.
Class warfare has been so good to Obama that he has opened up a lead in swing states, where Romney’s favorable ratings have declined.
The battle isn’t about Romney’s wealth, and it’s only partly about where he keeps it; mostly it’s about how he made it. Romney piled companies with debt, extracted dividends and fees for himself and investors, and then walked away from the debt-laden carcasses as the jobs and pensions went bust.
Romney’s experience would look good on an application for a job in private equity. It does not look good on an application for the White House.
Via Richard Murphy on twitter.
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