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Vulture Capitalism on Trial | The Nation

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Katrina vanden Heuvel

Katrina vanden Heuvel

Politics, current affairs and riffs and reflections on the news.

Vulture Capitalism on Trial

Editor’s Note: Each week we cross-post an excerpt from Katrina vanden Heuvel’s column at the WashingtonPost.com. Read the full text of Katrina’s column here.

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.

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.

Editor’s Note: Read the full text of Katrina’s column here.

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