Sunday, July 29, 2012

Romney's London comments simply reflect Romney's values

Fred Kaplan doesn't think anyone, least of all self-appointed Romney apologist--in--chief Charles Krauthammer, should be surprised by Romney's London antics.  This is who Romney is, and his comments reflect his world view.

How Romney should have behaved in London may be obvious to Krauthammer, but it was not at all obvious to Romney,
The thing that Krauthammer doesn’t get is that Romney is not the sort of businessman—that his brand of capitalism is not the sort of enterprise—that requires even the most elementary understanding of diplomacy, courtesy, or sensitivity to other people’s values, lives, or perceptions.

The American capitalists-turned-statesmen of an earlier generation—Douglas Dillon, Averell Harriman, Robert Lovett, John McCloy, Dean Acheson, Paul Nitze—took risks, built institutions, helped rebuild postwar Europe, befriended their foreign counterparts: in short, they cultivated an internationalist sensibility at their core. Whatever you think of their politics or Cold War policies generally (and there is much to criticize), financiers formed an American political elite in that era because finance (through the Marshall Plan, the World Bank, the IMF, and so forth) was so often the vehicle of American expansionism.

By contrast, private-equity firms, such as Bain Capital, where Romney made his fortune, tend to view their client companies as cash cows, susceptible to cookie-cutter formulas from which the firms’ partners reap lavish fees, almost regardless of the outcome. Their ends and means breed an insularity, a sense of entitlement, a disposition to view all the world’s entities through a single prism and to appraise them along a single scale.
Rick Perry called Romney's business practices Vulture Capitalism, but I prefer Vampire Capitalism.

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