Obama Doesn’t Hate Bain, Unlike Gingrich And His Own Campaign

  sure why not

Sure, we'll hold the DNC convention at Bank of America stadium!

Guess where Barack Obama’s new Office of Management and Budget director, Jeff Zients, used to work? Just guess. Oh okay, the headline basically gives it away: he worked at Bain Capital from 1988 to 1990 in between Mitt Romney’s stints with the firm. So let’s review: Newt Gingrich and Rick Perry both hate Mitt Romney for letting Bain Capital steal all the jerbs, and Barack Obama just named a Bain alum to a Cabinet position amid streams of glowing praise such as, “Since day one, Jeff has demonstrated superb judgment.” Now. Whose public posture toward “things Bain Capital” more correctly represents the stated view of Barack Obama’s reelection campaign, Newt Gingrich’s or Barack Obama’s?

From the Washington Examiner:

President Obama’s top campaign strategist, David Axelrod, criticized Romney for having a “Bain mentality,” just as some of Romney’s Republican presidential election rivals have blamed him for layoffs that took place at companies that Bain Capital financed.

Yeah. So how much does Barack Obama love someone with the “Bain mentality” again?

“I’m pleased to designate Jeff Zients to lead the Office of Management and Budget. Since day one, Jeff has demonstrated superb judgment and has provided sound advice on a whole host of issues,” Obama said in a statement accompanying the announcement today.

Oh well, David Axelrod is used to sounding ridiculous most of the time, anyway. [Washington Examiner]

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90 comments

  1. Crank_Tango

    This is good news for McCain. McBain? Rainer Wolfcastle? I don't know, all I know is it's not good news for me.

  2. SayItWithWookies

    The Bain name has become politically-charged recently with the rise of Mitt Romney — not for his work as a Bain & Company executive, but rather his career at Bain Capital. Romney helped found Bain Capital with his Bain and Company colleagues in 1984, and he led the firm until 1990.

    Hmmm — so Bain & Co. is different from Bain Capital, and Zients worked for the first one, not the second one. And hell, I've worked for military contractors, banks, credit card companies, mortgage brokers and a whole slew of awful jackasses — but some people get their values from something other than the company they're employed by. Or, in Zients' case, the company founded by former executives of the company they were employed by.

    1. Callyson

      Good catch. I worked with someone who worked for Bain & Co once, and he was a decent, intelligent, and caring person. In other words, the mirror opposite of Mittens.

    2. DarwinianDemon

      A conservative paper trying to twist stuff to help conservatives doesn't shock me. All the liberals who count themselvees among the enlightened falling for it does. The fact there is no attempt to correct the misinformation does.
      I suppose here is the important part: Romeny sees nothing wrong with what he did at Bain…does Zients?

    3. MittBorg

      Thanks, Wookies. I've worked for companies that I wouldn't brag about. I've never done anything unethical while in their employ, and nor would I, but I sometimes don't tell people that I've worked for Corporation Walletsucker or Corporation BombEmBackToTheStoneAge because I don't share those values and I don't want to be judged for having been so lacking in means that I had to sell my skills to some scummy swine to eat.

      1. fuflans

        i worked for a horror of a company. not evil so much as terribly run, terrible product, terrible to clients, sucking at the government teat (and of course run by diehard republicans).

        i never know what to do with that entry on my resume.

        oh and years before that i subcontracted with bain on a major project. they were all pretty ok and helped a dying company turn itself around. it's still alive and kicking today.

        1. MittBorg

          I've worked for some seriously evil corporations. The kinds that do stuff that, if you tell your lefty friends you worked for them they look at you like you specialized in tearing the heads off live babies. I don't think I've ever told any of my lefty friends that I've actually worked for them. I never worked on those projects that involved, you know, evil stuff, but up to, or at, what point are you responsible by association?

          Things just aren't black-and-white, or reducible to sound-bites, but that's what captures our so-limited attention.

          1. Fare la Volpe

            We talking Haliburton? Enron? The Dutch East India Company? Wolfram & Hart? Hutt Crime Syndicates Inc.?

          2. MittBorg

            Let's just say one of my employers was involved in the international sale of arms, and two others make (and have long made) products used to spy on civilians.

  3. Dudleydidwrong

    One day not long ago there was this woman standing on a DC street corner wearing a tight sweater and really, really short skirt. She told me that I had demonstrated "superb judgment" for choosing her. I think her last name was Zients, or Dents, or somethinglike that…

    My doc said he thinks he can cure this problem but it is taking a long time…

        1. DarwinianDemon

          The number one issue according to polls is jobs and the deficit (among the rich). They've been running ads here nonstop about how many thousands of jobs the pipeline will create. This is going to be a hammer used by Republicans on Obamas jobs numbers.

          And have you noted that the original post by Kristin was factually wrong yet?

  4. Chichikovovich

    Kirstin: Good post, it is revealing that everyone in this tight circle takes care of one another, and Obama is happily in the loop, etc. But an edit is needed. But as Wookies above noted, Zients didn't work for Bain Capitol, as your post states, but a different company with Bain in the name, that employed the people, including Romney, who later formed Bain Capitol.

      1. DarwinianDemon

        But wouldn't it be way funner if it WAS Bain Capital? This is what happens when people get their news from the Examiner

    1. MittBorg

      Also, too: Twenty-two years or more ago. Before Romney split off Bain Capital and assumed its helm. So, no Bain mentality on the part of Mr. Zients, at least without further evidence.

    2. ShaveTheWhales

      Also, it might be worth stressing a little more that Zients was employed by Bain & Co for two whole years.

  5. gullywompr

    There once was a man named Jeff Zients
    A master in fiduciary science
    He once earned his rent
    Between Mitt Romney’s stints
    He now heads OMB in defiance

  6. lochnessmonster

    Well I for one think the POTUS no matter the party affiliation should only hire ppl right out of college. They will have no baggage except their family baggage as in Mitt's case.

  7. glamourdammerung

    When I was 22, I was working for a defense contractor. I somehow do not think that makes me as responsible for the company's actions as the CEO was. And it certainly would not be like the CEO from another company coming over and taking over the one I work for. I also worked for a company that was sold to Halliburton and I do not think this puts me in the same league of behavior as Cheney. But then I am not an Obama appointee so a different standard applies.

  8. MittBorg

    I've worked for a few companies that are pretty disliked, nay, even hated. I'm not the assholes who employed me, I worked for them because I needed the money, and I don't know anything bad about this guy yet. Does anyone else? Other than the fact that he worked for some assholes, that is.

    1. Radiotherapy

      I hoped I answered your question below. He really is in the same league as Romney and the 0.1%'ers.
      Zients/Dodd '16

      1. MittBorg

        I'm looking at your comment, but if it was eight years ago, what company was it? Couldn't have been Bain, because Zeintz hasn't been there for 22 years. I'd really like some hard evidence. I'm sure I'd be miffed if someone found me unsuitable for a position because I'd worked for VultureCapitalistsInc. 22 years ago.

  9. Radiotherapy

    ZOMG guys, guess who was a partner in the vulture group who bought our professional practice about eight years ago? One, Jeff Zients. It's a long, pitiable story, if anyone wants to hear about it, but the guy made a ton of money off the backs of physicians. The 0.1% advising the president, we are so fucked. The fox is not only in the henhouse they are "managing" the henhouse.
    This is so problematic on several levels.
    1. The guy is a scum bucket who cares nothing about anything but making money.
    2. Essentially, now the Obama campaign honestly cannot use Bain or (vulture) capitalism against Romney.
    3. The reason we pay three times what the rest of the world pays in health care costs — for mediocre results — is because of guys like this. The health insurance, health care systems, and in Zaints' case "management" of physicians are a huge chunk of our "pay the middleman," impenetrable mess.

    1. snaveca

      God you're dumb.

      You sold your professional practice to a management consulting firm, Bain & Company? Better check that purchase agreement. I'm betting it was actually acquired by Bain CAPITAL.

      Zients worked for Bain & Company.

      Now you can go on about how worthless management consultants are, but whatever they are, they're not private equity sharks.

      1. Radiotherapy

        Like I mentioned, STW, it is a very, very long story — book length really, and Mrs. Radio is pushing me to do so. The drama involves contracts, greed, lawyers, scared bunny physicians, health systems (never forget these scoundrels), business models, unions, and lay people making millions off the backs of doctors. But it's not Portfolio Logic, that must be another one of his shell companies. He and his partners have already turned around and sold our group of physicians to another "management" firm. Tinkling champagne glasses in quiet rooms with millions of dollars of profit — sickeningly skimmed off the top of the health care stream.
        It's all legal Mr. Cheney.

        1. WootInTarnation

          Sorry, snark tank's on E right now. As an erstwhile victim of vultures and a self-employed entrepreneur with a chronic work-related injury who's been fucked over by representatives of the craven health care system, I'd sincerely like to read that book. Listen to Mme. Radio.

    2. MittBorg

      Any hard evidence? I'd really like the name of the company for which he worked, and any information you might have about them that is publicly available.

  10. MinAgain

    I used to think the President's ears looked big, because his hair was so short. Now, I realize that they're just compensating for the fact that he's politically tone deaf.

  11. snaveca

    Jesus. I knew the Washington Examiner was this dumb, but I didn't think Wonkette was.

    Zients worked for Bain & Company, which is a management consulting firm and always has been. They don't do leveraged buyouts. They get hired by companies, they don't BUY THEM.

    Romney left Bain & Company, the management consulting firm, to form Bain CAPITAL, the private equity firm. THAT'S where companies were bought and sold.

    Zients never worked for Bain CAPITAL.

    And other than the fact that Bain CAPITAL was founded by some former Bain & COMPANY guys (including Romney), there is no connection between the two.

    That's what you get for using the Washington Examiner as a source.

  12. BaldarTFlagass

    ♪ "Zients can't dance, but he'll steal your money
    Watch him boy he'll rob you blind."♫

    With apologies to John Fogerty

  13. Crowe2011

    Meh. I hate lawyers, but I hire lawyers to do my legal work. Romney's running for President, not a seat in the cabinet.

  14. eldswede

    You have all been misinformed.
    Zients worked for Bain and Company, a consulting firm that Mitt also worked for before Mitt left and started Bain Capital, the vulture venture. Please keep this straight or you will all be used in the coming reppub smear war. Just check Radiothecrapy's toxic waste above. He's following the plan of attack.
    Bain and Company is not Bain Capital. Rinse and repeat until you got it straight.
    Wonkette is really getting sloppy. Is it so hard to do a little fact checking, especially when the story originated over at Drudge? That should be red flag enough.

    1. Nopantsmcgee

      Sorry to say I agree , but I do. Wonkette…ya gotta gte your facts right or it ruins the harharhar. Wonkette, I love you long time, but this seems to be happening more of late.

  15. Negropolis

    I guess this proves the president is morally weak or some shit. Guess that means I need to order my "Gingrich 2012" bumper stickers.

    1. Radiotherapy

      It doesn't mean Obama is morally weak. And Gingrich is a discredited pseudo-intellectual. Fuck, I hope he wins the clown car race. But Jeff Zients is a _____capitalist of the worst kind. He has affected my life and career in a personal way. He is a perfect example of the 0.1%. I don't know what his motives are for this assignment, but I'll bet my left nut they are nefarious and avaricious.
      Let's be realistic, Obama is right-center. He has done nothing to change the direction of gov't policy. From Rahm to the crapola of Obamacare to Dodd/Frank to the Bush/Obama tax cuts to Posse Comitaus there has been nothing done in the progressive sense. Those are the sad facts.
      I fucking cried the night he was elected; I've never been prouder of my country. He is a smart guy; he has a handsome family; I think he has a soul; I appreciate his fear of being a OTP; I want him to win again, more than anything. To piss them off and allow him to kick some ass.
      But , for all the sublime reasons you despise Romney, you should be hatin' on Zeints. So beware, Jeff Zients is not our friend, by any stretch.

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