UPDATE: Newt Gingrich offered more help in defining Romney today, and in defining the kind of capitalism that Americans can live with, on Fox “News” of all places:
Real capitalism implies that there is some partnership between capital and labor to develop better futures. And that somehow the joint effort ought to produce a better future for everybody. That doesn’t mean you’re always going to succeed. I don’t attack guys who do their best and happen to fail. But I do think if somebody goes in and the rich guy takes all the money and the poor guys gets all the unemployment, there’s something wrong with that picture.
And again, if they make an investment and the investment doesn’t work out,and they take a bath, as long as they are suffering along with the workers, that is just free enterprise. And I think we have to be honest about this. One of the reasons people who like free enterprise do not like Wall Street is that they see very rich financiers who rig the game, so the taxpayer loses, the worker loses, and somehow the rich guy does okay…
There has to be some sense of “everybody’s in the same boat…” He’s gonna have to explain why would Bain have taken $180 million out of the company and then have it go bankrupt. And to what extent that they have some obligation to the workers. Remember there were a lot of people who made that $180 million, it wasn’t just six rich guys at the top. And yet somehow they walked off from their fiduciary obligation to the people who had made the money for them…
If we identify capitalism with rich guys looting companies, we’re gonna have a very hard time protecting it. I am totally committed to capitalism, I am totally committed to Main Street, I am totally committed to people’s right to start companies. I’m committed to their right to fail. But I think it has to be fair, it has to be out in the open. This is why you have this underlying anger about the financial class. Because people look over and say, “Wait a second. How come I lost my mortgage and you stayed a millionaire? How come I lost my savings and you stayed a millionaire?” […]
Is it fair to have a system, is it right, is it the kind of country you want to live in to have a system where somebody can come in, take over your company, take out all the cash and leave behind a wreck? And they go off to a country club having a great time and you go off to the unemployment line.
Now, this is not anti-capitalist. I’m not for socialism. I’m not for government stopping risk-taking. But I’m for some sense of fairness that the entrepreneur and the worker have a joint investment in something succeeding.
I never thought I’d say this: Thanks, Newt. You got it just about right.
Rick Perry is hanging around the GOP primary long enough to help define Mitt Romney and to help define what companies like Romney’s cash cow, Bain Capital, do.
Perry said this morning:
I will suggest, they’re just vultures. They’re vultures. They’re sittin’ out there on the, on the tree limb, waitin’ for the company to get sick, and then they swoop in, they eat the carcass, they leave with that, and they leave the skeleton.
Couldn’t have said it better myself, Rick! Thanks for not dropping out of the race!