The Big Bain Backfire UPDATED

Transcript here.

From the Romney campaign,

President Obama’s attacks on free enterprise have triggered a backlash among many—even among those in his own party. In just the past few days, everyone from former advisors to his own surrogates have criticized the Obama campaign’s attack on free enterprise. With no record to run on, it is no surprise that the Obama campaign has resorted to misleading attacks that have been disavowed by its own supporters.

For good reason: As Ed Morrisseypoints out,

The first Bain attack ad talked about something that took place two years after Romney had already left, but during the tenure of a current Obama bundler who worked at Bain later.  The same day that Team Obama launched the Bain attack, Obama held a fundraiser hosted by Tony James of Blackstone, another private-equity firm that occasionally partnered with Bain on projects.

The problem with these attacks is both accuracy and hypocrisy.  Obama has no trouble raising money from private-equity firms (or perhaps he does have trouble doing so), but then demonizes and demagogues the private-equity industry.  That’s what Booker found “nauseating” during his brief moment of candor, and what bothers Ford and everyone else.

Check out Sister Toldjah’s roundup for all the details.

UPDATE:
Ten ways you know the Bain attack is bombing

9. The media is going to town on stories like this from ABC News: “The Obama campaign’s latest attack tells the story of workers at an Indiana office supply company who lost their jobs after a Bain-owned company named American Pad & Paper (Ampad) took over their company and drove it out of business. Here’s what the Obama Web video doesn’t mention: A top Obama donor and fundraiser had a much more direct tie to the controversy and actually served on the board of directors at Richardson, Texas-based Ampad, which makes office paper products. Jonathan Lavine is a long-time Bain Capital executive and co-owner of the Boston Celtics. He is also one of President Obama’s most prolific fundraisers.” Oh well, then it was smart business and a good faith attempt to save the company.

h/t Instapundit.


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