SALON

Monday, May 21, 2012 8:33 PM UTC

Three Wall Street stooges

Romney uses Booker, Ford and Rattner to attack Obama. Can Dems take back their party from finance capital?

By

Topics: Cory Booker, Bain Capital, Mitt Romney,

Three Wall Street stooges

It was inevitable.

Mitt Romney put out an ad Monday using Newark Mayor Cory Booker, along with former Tennessee politician Harold Ford Jr. and former auto czar Steve Rattner, to attack the Obama campaign for its criticism of Romney’s work with Bain Capital.  “Have you had enough of President Obama’s attacks on free enterprise?” the ad asks. “His own supporters have.”

Booker, of course, has become infamous for telling David Gregory on “Meet the Press” Sunday that Obama ads criticizing Romney’s Bain work are “nauseating” and “crap.” Then Harold Ford Jr., who laughably tried to become the senator from Wall Street in 2010 after failing to become the senator from Tennessee in 2006, couldn’t stand seeing Booker getting all the centrist Wall Street love, and jumped in behind him: ”I would not have backed off the comments, if I were Mayor Booker,” Ford told his friends on MSNBC’s “Morning Joe” Monday. “Private equity is not a bad thing. Private equity is a good thing in many instances.” For good measure the Romney ad also scooped up Rattner’s criticism – also on “Morning Joe” – from a few weeks ago: “I don’t think there’s anything Bain Capital did that they need to feel bad about,” Rattner told the crew.

Democrats are wringing their hands over the latest circular firing squad, but I think all the self-promotion and betrayal is a good thing. It should remind Democrats why many working- and middle-class people either sit out elections or don’t think there’s a big difference between the parties. For the last 20 years, folks like Rattner, Booker and Ford have tried to make sure their party courted Wall Street more slavishly than the GOP – and they often succeeded. We ought to remember that history before we get carried away with our populist high-fiving in the 2012 campaign, convinced that Obama deserves to win the fealty of the unemployed, underemployed and Occupy Wall Street, too.

I’ve always kind of liked Cory Booker, even while knowing he was a privileged Ivy Leaguer in love with his own capacity to reconcile conflict and also to convince rich people and Republicans that Democrats don’t hate them – kind of like Barack Obama, before he got sandbagged by the modern GOP. I still don’t think Booker has gotten nearly enough grief for his multilayered betrayal of Obama on “Meet the Press.” For one thing, he stepped on the president’s message, which is a terrible move for a trusted surrogate. He also played the despicable false-equivalence game – and he did it again in the video he made to try to walk back some of the damage he’d done. Booker keeps claiming what he really finds “nauseating” are the negative super PAC ads “from both sides” – but the Bain attack is coming directly from the Obama campaign (although the pro-Obama Priorities USA contributed one ad to the mix). Besides, it’s outrageous to equate the Bain attacks with the Fred Davis-Joe Ricketts plan to morph the president into Rev. Jeremiah Wright. I expect Republicans to try to make that lame argument, not Democrats.

Maybe most unfair, Booker and Ford endorsed the GOP lie that Obama has it in for private equity generally, not merely the excesses of firms like Bain. They’re only egging on the Wall Street wusses who act like the president has nationalized the banks just because he signed on to the flawed Dodd-Frank bill and once called a few of them “fat cats.” Booker and Ford are clearly only out for themselves, anxious to prove there are some Democrats who still love Wall Street. Of course, this shouldn’t surprise us: Booker has teamed up with hedge fund moguls and other super-rich private equity folks (as well as Mark Zuckerberg and Bill Gates) in the course of reforming Newark’s schools as well as generally advancing his career. (He’s also ignored public records laws to keep those big donors from scrutiny.)

I wrote about Rattner’s comments earlier. By all accounts he did a decent job as auto czar, helping the president restructure the big three automakers and save the industry. But the big Democratic Party donor is clearly trying to pull the party back from those who are coming to understand that its fealty to Wall Street has hurt it with working- and middle-class voters – and much more important, has hurt the country. It’s Democrats who have for years protected the carried interest rule, keeping tax rates low for investors and private equity principals like Mitt Romney. Booker, Ford and Rattner are firing a warning shot at Democrats who are wandering away from their Wall Street. To its credit, the Obama team is doubling down on its Bain campaign, and let’s hope that continues.

Here’s the Romney ad:

 

 

Joan Walsh

Joan Walsh is Salon's editor at large and the author of "What's the Matter With White People: Finding Our Way in the Next America." More Joan Walsh.

Next Article

Related Stories

More Related Stories

Featured Slide Shows

The week in 10 pics

close X
  • Share on Twitter
  • Share on Facebook
  • Thumbnails
  • Fullscreen
  • 1 of 11
  • Lisa Montgomery embraces her nephew Thursday after a tornado tore apart her home in Cleburne, Texas. The twister killed six people and destroyed entire swaths of the North Texas town.
    Credit: AP/LM Otero

  • Jack McMahon, the defense attorney for abortion doctor Kermit Gosnell, speaks outside the Criminal Justice Center in Philadelphia Tuesday. His client was convicted of killing three babies in his clinic, and will serve multiple life sentences.
    Credit: AP/Matt Rourke

  • A photo taken Monday captures Vice President Joe Biden's response to a Milwaukee second-grader's innovative proposal to end America's epidemic of gun violence. This guy!
    Credit: AP/Jenny Aicher

  • Sen. Rand Paul, R-Ky., flanked by a grouper-eyed Michele Bachmann, addresses the IRS' admission that it targeted Tea Party groups in advance of the 2012 election. In an op-ed for CNN Thursday, the Kentucky senator slammed the president for his faux outrage.
    Credit: AP/Molly Riley

  • Ousted IRS chief Steven Miller is sworn in on Capitol Hill Friday. Miller testified before the House Ways and Means Committee on the extra scrutiny the agency gave conservative groups applying for tax-exempt status.
    Credit: AP/J. Scott Applewhite

  • Attorney General Eric Holder pauses as he testifies on Capitol Hill before the House Judiciary Committee Wednesday. Holder is under fire, among other things, for the Justice Department's gathering of phone records at the Associated Press.
    Credit: AP/Carolyn Kaster

  • O.J. Simpson sits during an evidentiary hearing at Clark County District Court in Las Vegas, Nev., Thursday. Simpson, who is currently serving a nine-to-33-year sentence in state prison for armed robbery and kidnapping, is using a writ of habeas corpus to seek a new trial.
    Credit: AP/Las Vegas Review-Journal/Jeff Scheid

  • Major Tom to ground control: On Sunday astronaut Chris Hadfield recorded the first music video from space, a cover of David Bowie's "Space Oddity."
    Credit: AP/NASA/Chris Hadfield

  • When it rains it pours. President Barack Obama speaks during a news conference Thursday with Turkish Prime Minister Recep Tayyip Erdogan, inexplicably inspiring an #umbrellagate Twitter meme.
    Credit: AP/Jacquelyn Martin

  • A smoke plume rises high above a road block at the intersection of County A and Ross Road east of Solon Springs, Wis., Tuesday. No injuries were reported, but the the wildfire caused evacuations across northwestern Wisconsin.
    Credit: AP/The Duluth News-Tribune/Clint Austin

  • Recent Slide Shows

  • Share on Twitter
  • Share on Facebook
  • Thumbnails
  • Fullscreen
  • 1 of 11

Related Videos

Comments

 32 Comments

Comment Preview

Your name will appear as username

You may use these HTML tags and attributes: <a href=""> <b> <em> <strong> <i> <blockquote>

follow salon

Most Read

Popular on Reddit

links from salon.com

vote
FBI reportedly joins Bachmann campaign finance probe
216 points217 points | 12 comments
vote
Jon Karl makes things worse: He regrets “inaccurate” Benghazi email but says his story based on it “still entirely stands.” Really. ABC News?
195 points196 points | 29 comments
vote
Paul Krugman’s right: Austerity kills. "In an economy where we’re all in the same boat, one person’s spending is another person’s income. So when the government cuts spending, it reduces people’s income, leading to less business, more unemployment, and a vicious spiral of slowing down the economy."
178 points179 points | 109 comments
vote
“Jodorowsky’s Dune”: The sci-fi classic that never was.
73 points74 points | 16 comments
vote
Doug Henwood: Capitalism Thrives on Class Exploitation
44 points45 points | 5 comments

From Around the Web

Presented by Scribol
listener_new_rect The Listener: So long, Sookie Stackhouse

Recommendations