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Democratic-aligned Super PACs are going after Mitt Romney on what they depict as essentially his own Solyndra, a further sign that Democrats see the writing on the wall and that they believe Romney will be President Obama's opponent this fall.
A video produced by American Bridge, called “Romney’s energy loan hypocrisy,” hits Romney for loans made while he was governor of Massachusetts to two companies that eventually failed or moved away – and had ties to Romney campaign donors.
The video starts off with Romney saying the following on FOX: “The whole idea of the federal government investing in these companies, particularly when there’s such a connection with Democratic fundraisers leaves a very bad taste in people’s minds and suggests a pattern of crony capitalism and that’s something for which Americans simply can’t stand for.”
And then a title comes up on the screen with “Pattern of crony capitalism??? You should know Mitt.” It then hits Romney for loans to companies called “Acusphere” and “Spherics.”
Citing a Boston Herald piece from December, Priorities USA Action pens a memo, stating: “When Romney was Governor of Massachusetts, ‘the state handed out $4.5 million in loans to two firms run by his campaign donors that have since defaulted, leaving taxpayers holding the bag.’ Romney lured one of the companies to Massachusetts by offering a direct loan from the state and his Administration bragged about using government loans to attract business.”
Full memo below:
TO: Interested Parties
FR: Bill Burton, Priorities USA Action
Video: American Bridge 21st Century
RE: Memo: Candidate Romney’s Attack Boomerangs on Governor Romney
Mitt Romney today has adopted the message of former Tea Party candidate Michele Bachmann in a transparent attempt to appeal to her extremist supporters. Romney’s phony outrage about “crony capitalism” is particularly surprising considering Romney’s record in Massachusetts.
When Romney was Governor of Massachusetts, “the state handed out $4.5 million in loans to two firms run by his campaign donors that have since defaulted, leaving taxpayers holding the bag.” Romney lured one of the companies to Massachusetts by offering a direct loan from the state and his Administration bragged about using government loans to attract business.
But, now that Romney is running for President, he claims that government loans to private companies are “crony capitalism.” It’s the worst kind of hypocrisy from a candidate who has proven he will do or say anything to advance his political career.
Background: Romney
Romney Today Accused Obama of Crony Capitalism. According to the Associated Press, “Mitt Romney on Thursday labeled President Barack Obama as a "crony capitalist," invoking a theme that Rep. Michele Bachmann used before she left the presidential race…As examples, Romney pointed to controversial appointments Obama made Wednesday to the National Labor Relations Board and to the bankruptcy of California energy company Solyndra after a $528 million federal loan from the Obama administration.” [Associated Press, 1/5/11]
Romney as Presidential Candidate: Government Investing in Companies of Contributors is “Crony Capitalism” On Fox News, Romney said, “The whole idea of the federal government investing in these companies, particularly when there’s such a connection with Democratic fund-raisers, leaves a very bad taste in people’s minds and suggests a pattern of crony capitalism. And that’s something which America simply can’t stand for.” [Fox News via Boston Globe, 11/17/11]
Romney as Governor: Two Companies Run by Campaign Contributors Received Government Loans Then Defaulted. According to the Boston Herald, “GOP presidential hopeful Mitt Romney has hammered President Obama for his administration’s tax-funded investment blunders — but when Romney was governor, the state handed out $4.5 million in loans to two firms run by his campaign donors that have since defaulted, leaving taxpayers holding the bag. The two companies — Acusphere and Spherics Inc. — stiffed the state on nearly $2.1 million in loans provided through the state’s Emerging Technology Fund, a $25 million investment program created while Romney was governor in 2003 that benefitted 13 local firms. Acusphere, a biotechnology firm headed by a Romney campaign donor, got $2 million in 2004 that it was supposed to put toward a $20 million manufacturing facility in Tewksbury, which never became fully operational. Calls to Acusphere’sheadquarters in Lexington were not returned.” [Boston Herald, 12/1/11]
Romney Jobs Plan in Massachusetts Based on Government Loans to Private Companies. According to the Boston Herald, “Romney's effort would use $ 8 million for low-interest loans to help with operational expenses at distressed firms looking to stay or expand here, D'Souza said. Romney would also direct $ 10 million toward grants andloans for high-tech companies that agree to create at least 250 jobs in thestate in a year, D'Souza said. That would come from $ 25 million the Legislature recently approved for an "emerging technology fund."” [Boston Herald, 3/23/04]
“Romney lured Spherics, a pharmaceutical company, away from Rhode Island by offering a $2.5 million direct loan” According to the Washington Examiner, “Romney didn’t compete for business through lower taxes and regulation: He tried to enticethem to the state with special subsidies. In 2005, Romney lured Spherics, apharmaceutical company, away from Rhode Island by offering a $2.5 million direct loan from the states Emerging Technology Fund. That same year, he signed a bill creating the Massachusetts Film Office that wasempowered to hand out special tax credits to studios filming movies in the Bay State.” [Washington Examiner, 5/16/11]
Romney Administration Took Credit forRelocating Spherics to Massachusetts. According to a press release from the State of Massachusetts, the Romney Administration took credit for luring Spherics toMassachusetts with the $2.5 million loan."Creating and fostering a business-friendly environment attracts companies like Spherics," said Ranch C. Kimball, Governor Mitt Romney's secretary of economic development and chair of MassDevelopment. "Spherics' move is a tangible result of the combined and coordinated efforts of the public and private sectors to highlight the benefits of locating in Massachusetts." [MA Release, 8/12/05]
Leave a Comment:
So, Republicans...how do you like the Superpacs now?
Ready to join with us in getting Citizen's United overturned?
This is fantastic.
Good to keep Solyndra in the news.
But then again NewDay - it is just advertising. Even though 4 out of five dentists recommend Dentine, I still prefer Hubba Bubba.
When was the last time we had a candidate that wasn't a hypocrit?
George HW Bush? Carter?
Sure ... pull the big union money / political organizing out of politics and level the playing field ... why not?
Personally, I am surprised to find out that the folks at First Read had heard of Solyndra....
NDD, Was that a yes from Bob with#?Hard to tell
Other posters took a pass!
I am all for a non-partisan drive to support the overturning the Citizens United.
Soem states are doing this now. Congress could also get busy and pass new legislation that bans these group
I am for that too, Northstar, and I think it is coming.
Well girls, why not just eliminate the 1st amendment? Or amend the clause defining what "the right to petition government" means.
Nice to see you girls maintain the position of "its my way or the highway" by not understanding what bob said.
Northstar and NDD, I think that many on the right and the left agree that it would benefit all to take all the outside money out of the campaigns. It is obscene. Why should it take a billion dollars to get elected? Roll out your record and let the public choose.
Give them each the same amount and let them run on their records and ideals.
See, we can agree.
WCA,
Great, now we are three. And also nonpatisan on this issue!
We probably agree on lots of things... :0)
Well, Gov. Romney, up to now you have had clear sailing. No hits from the left or right while your Pacs were out there beating up on everyone. Well, I think rough seas are ahead for you. You are going to be pounded from your own right as well as the left! ARRR matey. Hope you brought your seasick pills!
I think it is great that there is finally confirmation that the left has PACs and Super PACs. That people supporting President Obama are using the same approach as those on the right does make me wonder about the "change" part of his campaign strategy. He is the same as every other politician and won't be able to get away from that fact. The other part of his "meaningful and descriptive campaign message was the "hope" part. We all know that "Hope" is not a strategy, well at least anyone with business experience know that. I guess that explains why he chose the words. Go figure.
James,
Personally, I wish ALL superpacs would go away. And to be honest, at this point of the political season, my mind is worn out. So I am going to put football first and politics (except the debate which could, finally, get a little interesting) in second. After Monday night, my mind will be refreshed - until at least March Madness!!!! LOL
james,
Everyone knows both parties have superPacs.
check out: opensecrets.org
It is all there.
So are you joining NND and myself to get rid of these PACS?
Northstar,
You talking about Dylan Radigan's petition? I signed it.
phine -- i think the next interesting debate will include the President. I am anxious to see who will be hosting and who will be asking the questions. And i hope that there is a strictly enforced time limit to try and preclude the candidates from simply reiterating their stump speech.
march madness may be the most exciting few weeks in the sports calendar. also very much looking forward to that.
north -- i don't agree that everyone knows they are on both sides. coming to this site everyday i only see folks bashing the PACs on the right and not acknowledging that the left have them as well. don't know anything about your plan to get rid of the PACs.
i believe that all candidates should use the public campaign funding like mccain did but that the President refused to use (after promising he would).
How could anyone NOT know? This should be a no-brainer for ALL Americans. Get the money out of politics. Can you see the benefit of all that money circulating in the economy instead of around politics? Until it is gone both sides will do it. And we all lose.
Yup, this is only the beginning for Landslide Mitts. He has got lots of splaining to do for his practice of buying control, loading up with debt, looting the cash and dumping the carcass in bankruptcy court. Sure as hell didn't get his quarter billion from making and selling a product.
The Lucchese family from NJ gets indicted for using Landslide's business model. He gets to claim he's a job creator. He does acknowledge that not all companies survived his form of liposuction.
BTW, ask Cowboy Ooops about his "job creating" slush fund in TX.
The Dems have not used any super Pacs money until now.
It was the SCOTUS that started this race for the most money , always a arms length from any official campaign.
I really don't have specific plan ,James. It was New Day Dawning above who put out the challenge to come together on this issue.
So we have NND, myself, WCA, Phine, James and lib50 .
We are defintely a small group and growing...
I'm in, Northstar.
Freshiseee,
Welcome , now we are seven...
I hope the states which are challenging the SCOTUS decison about super PACS get somewhere this year.
This will be the most expensive and most negative election in hsitory. It will try all of our patience.
"Take the money out of politics"
Translation One : Take the First Amendment out of the Constitution.
Translation Two: Let unions, public sector advocacy groups and George Soros spend billions on campaigns, but business and free enterprise advocates are muzzled
Only seven votes to repeal the First Amendment? Not impressive.
The moonbat zealots in here would rip up the entire Constitution to reelect their Messiah, no question.
That's it?
The idiots from the left think they can sway potential voters by saying."Romney did it too but Obama's is 100 times worse". That's the argument?
Genius!
Daily Kos/The Boston Globe:
Republican Senate nominee Mitt Romney's rescue of a business consulting firm was achieved in part by convincing the Federal Deposit Insurance Corp. to forgive roughly $ 10 million of the company's debts, according to sources close to the deal and federal records obtained by The Boston Globe.
*************
Bail out? My oh my. Yet Willard could care less about The DREAM Act. Such a cold hearted man he is.
*************
I think Rick Santorum should be given a shot to shine in NH. The fact that he's a blue collar man is enticing. Especially compared to Mitt.
The Washington Examiner:
Rick Santorum reaches out to blue-collar voters on the trail by sharing the story of his Italian immigrant grandfather who hated fascism under Mussolini and went to America.
Although Santorum often talks about his grandfather in campaign speeches, many were first introduced to this story in Santorum's strong speech following the Iowa caucus results.
"He ended up continuing to work in those mines until he was 72 years old, digging coal." Santorum said, "I’ll never forget the first time I saw someone who had died. It was my grandfather. And I knelt next to his coffin. And all I could do — eye level — was look at his hands. They were enormous hands. And all I could think was those hands dug freedom for me."
The story of Pietro Santorum is already making its way into Italian news organizations.
“You must go back to the lesson of my grandfather, who worked hard, with no excuses and no complaints.” Santorum told Italian media outlet LASTAMPA, when asked how Europe and Italy could fix their financial crisis.
Today in New Hampshire, Santorum recalled his grandfather's lifestyle.
"My Grandfather was a stern tough guy, he was tough," said Santorum who recalled that his grandfather was a hunched man due to a scoliosis in his back.
"He was a big strong man, but he smoked everything all day long," Santorum said, "Pipes, cigars, cigarettes . . .he had whiskey in the morning with his coffee. . . he was a larger than life figure for me."
***************************
btw, I think I read somewhere that there's a GOP debate this weekend? Isn't this a big NFL playoffs weekend?
Geez, I realize journalists must have somewhere along the way made a deal with their families that presidential election years would find them absent more than usual.
But the NFL playoffs? They have to monitor a GOP debate instead of the playoffs?!
Ouch.
Really Pat?
dailykos?
Laughing MFAO
Pat,
Wild card games, I think, are on Sunday during the day. Don't remember if there is a bowl game on Saturday and/or Sunday night. Of course Monday night is the biggy LSU/Alabama. Politics will have to sit on the sidelines for sure Monday night!
Doug, what the devil has Daily Kos got to do with the story? All they did was copy an article from The Boston Globe.
A very interesting article.
phinephancy, I thought there were playoffs games on Saturday and Sunday? These are the weekends when football fans blow their weekends, sitting in the house watching one game after another.
I know. I'm one of them. haha.
Pat,
I have everything ready from wing to hot pretzels! Mr. phinephancy even checked the markets to see who had his favorite adult beverage on sale!
Be back in a flash, gonna check the football schedule.
Okay, Saturday 4:30 Bengal v Texans, 8:00 Lions v Saints. Sunday games are at 1 and 4:30, first game is Falcons and Giants, the second is Steeler and Broncos.
Best game is Monday night. LSU/Alabama
[Doug, what the devil has Daily Kos got to do with the story?]
Pat, it doesn't matter...DougPoundsIt just sees what he wants anyway...
Al Capone was also an Italian "tough guy". So what?
Thank you phinephancy. I always look forward to the NFL playoffs. I wish the NY Jets made it though. But this is the time of year when politics are put on the back burner for me.
NFL Playoff schedule:
Saturday Jan 7:
Cincinnati at Houston 4:30 ET
Detroit at New Orleans 8:00 ET
Sunday Jan 8:
Atlanta at NY Giants 1:00 ET
Pittsburgh at Denver 4:30 ET
The Republicans fought so hard for Super PACs and now it is about to backfire on them. -KARMA-
The view from the inside of DC is certainly more plush than the outside view looking in. Both parties.
Did that company go bankrupt? Were they a Romney donor? I bet the answer to both is know, and what seems to have alluded Msnbc is that Solyndra was a
major donor to Barry and they went bankrupt. I don't think it is a stretch to say that
their is a huge difference between the two and msnbc is grasping at straws. Also
it wouldn't be a stretch to say that The Obama team is the most corrupt administration in modern history, while Mitt even refused to take a salary
as Governor. The difference is stark.
Great comment! why isn't psmnbc doing stories on solylandra,
fast and furious [officer killed cause they put guns on the street
to change gun laws] pelosi's brother in law getting money, pelosi
and kerry buying healthcare stock before the healthcare vote,
fannie and freddie, black panther voter fraud, wasted stimulus
money, bailouts, GE no taxes, all the regulations that are stopping
the economy from growing, high gas prices, high food prices,
no budget passed, all the fraud in the administration etc.....
no other president has had so many obvious scandals and
yet none of the liberal media is reporting anything you would
think OBOMBO is doing a fantastic job and US is booming!
most corrupt administration in history? werent you around when Bush II was in office? come on dude, read up on your history.
Romney and rabid repugs think the rest of us don't know who is supporting us and it is not repukes.
Good, this only means we will talk about Obama's real Solyndra $528million of tax payers money in a shady deal with just one company...Good. Keep bringing up Solyndra...
i just read congress made 11% more money since OBOMBO has
been in office! what does that tell you? most are democrats.
The democrat party sounds like a kid I knew in grade school. When he was caught doing something wrong during recess, he would always use someone's name and say that they were doing the same thing he did. Pitiful!!!
This shows you how the demos and libos and Obombo is worried when
this is what they have to come up with to defend OBOMBO from all
the corruption and payoffs to his big union buddies!!! Seems they
realize they can't blame Bush anymore!!!! what excuse is next?
Romney is just another crook in a pool full of crooks. He'll get the GOP nomination because he upholds the values of the republican party, which is to say, he'd sell his grandmother into slavery if there was a buck in it for him.
Romney and his fellow candidates blabber on about the whole faith freedom and something, but its all baloney. They want to control my faith, control my bedroom, control my money. No thanks, go back to your hole in the ground and stop bothering us.
Breaking business news: Oville Redenbocker has announced record sales of its product. Their spokesman cited the multiple GOP debates and the willingness of the candidates to throw each other under the bus as well as their hypocrisy and their denial of whats called: "The video clip". The spokesman went on to say they saw no end in sight to their record sales until at least early November of 2012!
Keep your cupboards full-- its going to be fun to watch the primaries !
Whoever emerges the "winner" on the GOP side will have to face the Obama $1 billion SMEAR machine.
So, this primary is a good PRE season to all that vitriol and slander.
I am sure the Obama attack ads will be like a tsunami we've never seen.
What happened to Obama , the candidate, wanting to do away with this type of "money war" ?