Could Mitt Romney Go Bankrupt?

His morals have been in a blind trust for decades

Mitt Romney isn’t stupid.

Okay, in 2007-2008 he apparently invested $35.4 million in a presidential run that was over by Valentine’s Day. But that was to be the next Reagan. Priceless.

He hasn’t spent any of his quarter billion in assets yet for this Reaganpalooza. He isn’t receiving much support from small donors as compared to President Obama or John McCain. But Wall Street loves him.

The problem is NO ONE expected this primary to go this long.

The way you earn big donations in the primary is to appear inevitable while making your opponents seem implausible. The opposite has happened for Mitt Romney. The GOP is ginned up in an ahistorical way.

Since 1968, the GOP candidate who was next in line to be President because of a previous campaign has always consolidated GOP support. Gerald Ford struggled a bit in 1976. But by fate, Ford found himself President without ever being elected, elevated over the candidate who’d been running for President in a sense since 1964. Reagan made the race so close that many called for a co-ticket.

This should be Mitt Romney’s year. He’s everything the GOP should love. A TV movie Reagan with the business sense and ruthless nature of an Aaron Spelling mogul. But he’s also a man who was publicly progressive and pro-choice until well after Bush declared “Mission Accomplished.”

How could America trust any man who thinks the lesson of the last decade is “Be more like George W. Bush”?

You can’t. And you especially can’t because he’s smart enough to know better. Do a close reading of Romney’s “Let Detroit Go Bankrupt” and you’ll find in it an incredible mix of arrogance and wiggle room. Romney says the President eventually took the approach Romney suggested.

He can’t wiggle out of this. What Romney was saying in November of 2008 is: The economy is on fire; lets blow something up.

Forcing the auto industry into bankruptcy without first providing billions in loans that simply were NOT available from any other source would have burned industries, threatening 1 in 10 jobs.

Romney says he would have ended up doing what the President did, except Wall Street would have done better and union workers would have suffered more. I believe that. So there’s Mitt’s big argument against the President: Wall Street hasn’t benefited enough at the expense of working people.

Mitt Romney is not going bankrupt. Wall Street will never let that happen.

You may say he’s morally bankrupt already. I say: When it comes to politics, Mitt Romney’s morals are in a blind trust.

Mitt seems to be a deeply moral man in his family life. But the way he bends the truth and misrepresents that past and his opponents shows an incredible willingness to deceive. And don’t forget who is on Mitt Romney’s side. And he’s desperate.

Unfortunately for Mitt, the only person you can fool all of the time is yourself.

CC image by Memekiller

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