Yesterday I read an interview with Edward Conrad, one of Mitt Romney's partners at Bain Capital and the author of Unintended Consequences: Why Everything You've Been Told About the Economy is Wrong. He was brought into Bain after it was already up and running and Mitt tutored him. I can only assume his views are essentially those of his mentor's. If Mitt is to ever have any chance of becoming President he'd better hope no one ever reads Conrad's interview or his book.
Conrad says, "The financial crisis...was not the result of corrupt bankers selling dodgy financial products. It was a simple, old-fashioned run on the banks."
What has he been smoking? He goes on to say, "The banks made some mistakes, but the important thing now is to provide them even stronger government support." He advocates "...creating a new government program that guarantees to bail out the banks if they ever face another run." *jaw hitting floor* As for exotic derivatives (that were the root cause of the Crash of 2008), he doesn't see a problem. "They were fundamentally sound." * speechless*
Sure, everyone he ran with got to retire to the Hampton's with their fortunes pretty much intact. But for every one of his buddies in that position there were tens of thousands who got royally screwed.
Gonna be a tough sell, Mitt.