Katrina vanden Heuvel
Katrina vanden Heuvel
Opinion Writer

Vulture capitalism on trial

If you had asked me at the beginning of the Republican nomination fight what candidates like Newt Gingrich and Rick Perry would say to win, I would have said just about anything. What I couldn’t possibly imagine was that one of the things they might start saying would actually be the unvarnished, unblinking, stand-up-and-clap-for-it truth.

With their eyes set on Bain’s bane and Mitt Romney’s career, Perry and Gingrich have been astonishingly and appropriately brutal. “There’s a real difference between venture capitalism and vulture capitalism,” Perry told Fox and Friends last week. “I don’t believe that capitalism is making a buck under any circumstances.” Couldn’t have said it better myself.

Katrina vanden Heuvel

Editor and publisher of the Nation magazine, vanden Heuvel writes a weekly column for The Post.

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Gingrich sharpened that point further on Bloomberg.“The question is whether or not these companies were being manipulated by the guys who invest to drain them of their money, leaving behind people who were unemployed,” he said. “Show me somebody who has consistently made money while losing money for workers and I’ll show you someone who has undermined capitalism.” Sing it, Brother Gingrich.

What’s especially ironic about all of this is how much the roles have reversed. Romney, shameless flip-flopper that he is, has stood his ground, while the rest of the Republican field is opportunistically flipping and flopping around him. That, it turns out, is incredibly lucky for the American people, allowing us as clear a picture as we’d ever had of the real Romney just at the moment he’s become the near-presumptive nominee.

His full-throated response to his Republican opponents was deliciously revealing. “In the last few days, we have seen some desperate Republicans join forces with [President Obama],” he said during his victory speech in New Hampshire.“This is such a mistake for our party and for our nation. This country already has a leader who divides us with the bitter politics of envy.” He warned that we must not be “dragged down by a resentment of success.”

So that’s what he thinks of the Occupy protests, of the 99 percenters, of the millions of Americans who believe income inequality is a real-life problem and that they deserve a fair shot. According to Romney, they’re just jealous, of him, and of people like him, who concocted rapacious ways to make millions of dollars.

This is what he believes, we know, not just because of these comments, but because of his career at Bain. He’s a man who built a personal fortune practicing a form of predatory, you-are-on-your own brand of capitalism that casts workers into joblessness — by design. And he’s a man who thinks those workers’ grievances are just about his “success” and not the system he intends to propagate from the Oval Office.

And so the country is being offered a rare opportunity: the chance to have a conversation about two vastly different visions for our nation and its economy. On one side, the Romney Economy — a vision of deregulation, of tax breaks for the wealthy and corporations, of an assault on the middle class and the poor, and of an attack on the social safety net.

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