Check Out The Article By A Former Clinton Staffer Because It Helps To Understand Why The Former President Is Standing Up For Vulture Capitalism, Give Your Input

Keeping It Real 2012/06/04 15:34:22
SodaHead Progressives
I do believe the former president is looking out for his vulture capitalist friends
I believe the former president is lying about Bain Capital
I do believe Bill Clinton is not a true supporter of the president
All of the above
None of the above
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Bill Clinton’s Blind Spot

by Michael LuxFollow


I have been thinking a lot about my old boss President Clinton the
last few days. I still have a great deal of respect and affection for
him, and remain a fan of his political skills and the many good things
he did as President -- more than a lot of people realize. But one thing
you always knew as a staffer of his was when he did make a mistake it
was a doozy. And as his Bain Capital statement reminds us, he has always had an incredible blind spot for the Wall Street crowd.

The biggest political mistake of his Presidency was to allow himself
to be seduced by the slick Wall Street guys who convinced him the
further deregulation of the financial industry -- the repeal of
Glass-Steagall and failing to regulate derivatives -- would be good for
the economy. You would think after the crash of 2008 and all that it has
wrought he would be wary of defending Wall Street again, but it appears
his massive blind spot is still there.

In the 1992 campaign I was so proud to be part of, Bill Clinton
promised to fight for the American middle class who “worked hard and
played by the rules.” And he did fight for those middle class and
working poor folks in much of his presidency. Family and Medical Leave;
children’s health insurance; raising the minimum wage; the Brady Bill;
expanding our national parks; standing up to Gingrich’s assault on
Medicare, Medicaid, school lunches, Head Start, and education; lowering
taxes for the working poor and raising them for the wealthy: all of
those policies mattered greatly to millions of middle-class Americans’
real lives. But when Clinton let the big banks free to rampage at will
in the economy, the American middle class he had been helping in all
those other ways got crushed. It was a terrible mistake that sadly
tarnished his legacy and wiped out much of the good he had done.

Now he is defending Wall Street again. Clinton said that Romney’s
work at Bain Capital was “not bad work, but very good work” and that
Romney’s business career at Bain was “sterling.” But Mitt Romney and
Bain Capital made money by playing with a stacked deck -- stacked in
favor of Wall Street and against those people in the middle class who
worked hard and played by the rules. Bain used the facts that debt was
deductible and that carried interest and capital gains were taxed
dramatically less than regular workers’ taxes to make money while the
companies they bought frequently got drained of their value. Romney got
rich while firing and outsourcing workers and slashing their wages and
benefits. Romney got rich even when the companies he bought went
bankrupt because of the way the rules were stacked in his favor. He got
richer while most of the rest of us got poorer. No, strike that: he got
rich because most of the rest of us got poorer. Bain made most of its
money by firing people and slashing their wages, not by creating new
high-wage, high-quality jobs.

This was not good work, this was vulture capitalism by an utterly
amoral man. No Democrat should be defending the company or its CEO Mitt

So why would Bill Clinton feel compelled to defend Bain, especially
when he knows that the Bain critique is at the heart of President
Obama’s re-election strategy? The Bill Clinton I worked for used to
express outrage when any Democrat would criticize the campaign strategy
we were using. My best guess is that old Wall Street blind spot is
kicking in again: the Wall Street gang President Clinton is still close
to are crying in his ear about how unfair it is that anyone would beat
up on their way of doing business, and Clinton is trying to steer the
2012 political conversation away from a subject that causes this much
discomfort to his good friends.

President Clinton, I hope you will see the error of your ways on this
fundamental issue. Those middle-class people who work hard and play by
the rules want you back on their side where you once were, not the side
of the big banks.

You know what really haunts me about Clinton and the Wall Street
bankers? When Clinton made one of those doozies of a mistake back in the
late ’90s, that one with Monica Lewinsky, and the Republicans
recklessly pursued their absurd impeachment strategy, I rushed to the
barricades to help out. I helped People For the American Way and the
just-starting Moveon.org and many other groups run the big
anti-impeachment campaign that turned the tide of public campaign,
shocked conventional wisdom by helping win Democrats seats in the House
in the 1998 election, and defeated the drive for impeachment and
conviction. I was proud to defend the constitution from the Republicans’
terrible abuse of power. But it was in that exact same period of time
while I was fighting to save Bill Clinton’s presidency that Clinton was
working with those same Republicans in Congress to pass the big banking
deregulation bill that repealed Glass-Steagall. I have been haunted
wondering if people like me had focused on defeating that terrible
banking bill instead of trying to save Bill Clinton’s presidency,
whether the country would have been better off. I still think that
impeachment push was a terrible travesty, but I also often think my
priorities were wrong and I should have been fighting Clinton and Wall
Street on their horrible legislation.

America’s voters are going to have to decide whether the kind of
amoral business values that cause a few to get rich because the rest of
us get poorer are what they want in a president. They are going to have
to decide whether the kind of market and tax-code manipulation practiced
by Bain Capital, JP Morgan, Goldman Sachs, and Bank of America is a
good thing or a bad thing. But I sincerely hope that Bill Clinton
doesn’t stay on the side of the amoral speculators and market
manipulators. Come on back to fighting for the middle class, President

Add a comment above

Top Opinion

  • C. C. Rider 2012/06/04 17:52:47 (edited)
    None of the above
    C. C. Rider
    Sorry sweetheart, I back Clinton all the way. He is a shrewd politician and will make sure Obama wins. OH, and for record, I could give a flying crap about a blow job that happened over 20 years ago. Clinton is not running for President. He, his wife and Chelsa seems to have worked it out, too bad most are not that mature too.

    This was a Clinton Aid? LMAO Seems he is no friend to Clinton or the Dem party. I would throw him out on his ass and seems that is what happened. Sour grapes? It seems so.

    What Clinton says is one thing. But it was Romney who DID IT. http://latimesblogs.latimes.c... clinton

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  • bettyboop 2012/06/19 00:07:42
    I do believe the former president is looking out for his vulture capitalist f...
    It's all about money. Clinton is gonna back who ever is going to fill his bank accounts full. Way back when, when we got butt -ucked by Kenneth Star and all those other yahoo's who were getting rich trying to prove Clinton was an adulterous, they did not give a damn about him getting his rocks off. The American people knew what kind of man he was when they elected him. It was all about money and how much of it could be put into Kenneth Star and other republicans bank accounts. The government does NOT care about us, all they care about is how much money they can get to fill their bank accounts.
  • Max7 2012/06/15 22:35:20
    I believe that President Clinton is a staunch supporter of the Democratic party, however with that being said, sometimes I think that I need a third eye to keep tabs on Mr. Clinton. When it comes to Hilary he does a lot of back tracking and speaking with a fork tongue. It makes you wonder sometimes about his loyality to President Obama. It is obvious to me that he's still a little sore that Hilary wasn't successful in her presidential race.
  • Keeping... Max7 2012/06/17 05:18:30
    Keeping It Real
    Tell it like it T.I.IS Max7! keeping it real
  • Max7 Keeping... 2012/06/18 16:27:01 (edited)
    People like to dance around the truth, if it's a racial matter, they hesitate to say that it's racism, if it's unfair practices or accusations that have no merit, there are those who him and ha, I believe that the quickest way to resolve something, is to deal with it, and "keeping it real," in the sixties they use to have a saying, "ain't nothing to it, but to do it," It is what it is, and I do appreciate your support. Not since John F Kennedy, have I followed a political campaign as closely as Obama, Hilary, McCain and Palin, and there were times when Bill Clinton said some cutting things, so much so that he was being questioned by his supporters.
  • U-Dog 2012/06/10 05:36:14
    None of the above
    Intellectually, he reminds me of one of my big show off cousins... Brainless, amoral, could get away with robbing almost anyone while making them feel good it and yet there is really nothing there.. Nothing!
  • Keeping... U-Dog 2012/06/10 05:59:11
    Keeping It Real
    I almost fail out of my chair laughing when I checked out your profile that revealed your a Libertarian. Bill Clinton is a hundred times better as a person, a politician, a leader to say the least, in comparison to the likes of you and your right wing racist anti-anything good party.
  • U-Dog Keeping... 2012/06/10 06:10:54
    That's a brilliant come back for a sociopath... Care to prove more about your ability to steal and cut throats while still playing the Robin Hoodwink hero for the masses?
  • Keeping... U-Dog 2012/06/10 12:02:18
    Keeping It Real
    Get an IQ and then get back at me! dumb as rocks
  • Denny 2012/06/10 05:34:21
    I do believe Bill Clinton is not a true supporter of the president
    I believe Billy Clinton hates the SOB and will bring him down anyway he can. Anyone who knows that and asks for his help anyway is brain dead and deserves what the hell he gets.
  • Keeping... Denny 2012/06/10 06:01:47
    Keeping It Real
    Fortunately for president Obama he will get reelected no matter who try to do what to him. The former president and current president has more intelligence, leadership, class, values to say the least then the likes of you and your party has in it's baby finger. back on off right wing nuts in glitter
  • Denny Keeping... 2012/06/10 06:04:50
    Are you going to go into big goggle eyed tears in November??? Can I watch??? Obummer is going to be lucky to take Illinois.
  • Keeping... Denny 2012/06/10 12:04:21
    Keeping It Real
    The hate and racist behavior of your kind has completely blinded you. I look forward to watching the president clean 2face Romney clock. Not only will he keep the White House but the Dems will win back the house and keep the majority in the senate.
  • Denny Keeping... 2012/06/10 20:41:15
    How long have you been shooting peanut butter??? Smooth I hope.
  • Keeping... Denny 2012/06/11 12:46:19
  • Denny Keeping... 2012/06/11 19:17:10
    Right! I should do that. But it's so much fun to screw with the idiots. This is fun and I mean that. However the point is that Billy Clinton was and is still thinking of himself as the leader of the Democrats and he doesn't like Obummer for what he did to the corination of Queen Hilly. Everyone knows it Right and Left and you can bet Obummer knows it too. He would love to win this without Clinton but he knows he can't. And won't
  • Keeping... Denny 2012/06/11 19:34:38
    Keeping It Real
    Yes you should stop arguing with yourself! ROFLMAO CHARACTER
  • Denny Keeping... 2012/06/11 20:35:12
    Sorry i forgot your an Idiot.
  • Keeping... Denny 2012/06/11 20:59:03
    Keeping It Real
    Stop trying to project your own short comings onto others! you re a joke
  • Denny Keeping... 2012/06/11 22:00:53
    You must be a woman! always with the last "Hate" comment.
  • Keeping... Denny 2012/06/11 22:56:56
    Keeping It Real
    You wish you was a woman heck even a man better yet go one step further and wish you was just a human being!
  • Denny Keeping... 2012/06/12 00:29:40
    your breaking up not coming in very clear. Kind of like herding kittens. Get along little doggie.
  • Keeping... Denny 2012/06/14 06:46:31
  • Denny Keeping... 2012/06/14 06:48:02
    Hi there. Thought you got lost.
  • Keeping... Denny 2012/06/14 12:46:35
  • Keeping... Denny 2012/06/17 05:19:15
  • Denny Keeping... 2012/06/17 05:27:39
    I'm done with you and moved on what the hell are you talking about now???
  • Keeping... Denny 2012/06/18 16:40:10
  • \V/ 2012/06/10 00:35:51
  • Lefty 2012/06/08 11:39:59
    Bill was pointing out that Willard was a good business man in making money. He also infered that Willard made his money at the expense of the people working in those businesses.That's it, no more no less.
  • Jane 2012/06/06 04:19:19
    Time will tell
  • YouSirName 2012/06/05 23:08:25
    I do believe the former president is looking out for his vulture capitalist f...
    Deregulation that led to our recent crash was dramatically furthered under Clinton. He was also a willing pawn of Alfonso Fanjul, one of the most despicable men in the world, and a true parasite of the U.S. taxpayer.
  • \V/ YouSirName 2012/06/10 00:46:29
  • Ali ~ In My Heart I Trust ~ 2012/06/05 18:35:37 (edited)
    None of the above
    Ali ~ In My Heart I Trust ~
    I agree with the former staffer - Clinton made a mistake in repealing Glass-Steagall. I didn't like it then, I STILL don't like it.

    And I don't agree with Clinton's assessment of Bain's track record: vulture capitalism is vulture capitalism; it does far more harm than good.

    As for the rest, I supported Clinton and mostly liked his policies. Ditto for Obama. I support him and mostly like his policies.

    Obama 2012
  • Freeranger 2012/06/05 13:28:58
    None of the above
    Hey, you only have to go back to Hillary's "cattle futures" investment. The thousands made of that kept Slick Willy in cigars for the rest of his term.
    He's no dummy.
  • Keeping... Freeranger 2012/06/05 14:19:26 (edited)
    Keeping It Real
    You're right the former president is no dummy and is quite intelligent. Though I may differ with him on his stance about Bain and 2face Romney record as a businessman, I would defend him 24/7 from personal asaults from the likes of your kind. Why don't you come up from your mamma basement, take a well overdo shower and brush your teeth, all three of them. up from the basement take a shower brush your teeth
  • Freeranger Keeping... 2012/06/05 14:24:16
    Oh, ouch huh? I see I struck a nerve. Hey, I hear Slick is lookin' for an intern. If you got a daughter, why not send her over to apply.
  • Keeping... Freeranger 2012/06/05 14:27:45 (edited)
    Keeping It Real
    The likes of your kind could never strike a nerve what so ever, I just want to let people like you know not to even think your point of view carries any weight on our side of the aisle. get a clue in glitter
  • Freeranger Keeping... 2012/06/05 14:31:41
    That's the beauty of this web site numb nutz.....First of all, I don't care that it doesn't carry any weight, certainly not on your side of the tracks. Now you go crawl up in 'YO Mama's lap and breast feed till you calm down.
    Good boy.
  • Keeping... Freeranger 2012/06/05 14:33:16 (edited)
    Keeping It Real
    I see I struck a nerve! the truth hurts ROFLMAO CHARACTER
  • Freeranger Keeping... 2012/06/05 18:43:53
    Wow.....and more graphics too! You realize this tells me you lack originality and must instead, borrow from others more creative than yourself right?
    Anyway, I see you're done nursing and are up from nappy time. Good boy. Feel better?

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