Obama's flummery

"Phui.  That is flummery."  That's what Rex Stout once had Nero Wolfe interject.  Well, now Marc Thiesen has so said to the Obama Camp regarding its campaign against "Private Equity" and Governor Romney in his excellent Washington Post article. Their thesis (being a muddled bit along the lines of: "Profit for profit's sake is not what investing should be about") is deftly countered by Mr. Thiesen's disquisition on "Public Equity" best summarized as: After all, if Romney's record in private equity is fair game, then so is Obama's record in public equity - and that record is not pretty. He continues: Since taking office, Obama has invested billions of taxpayer dollars in private businesses, including as part of his stimulus spending bill. Many of those investments have turned out to be unmitigated disasters - leaving in their wake bankruptcies, layoffs, criminal investigations and taxpayers on the hook for billions. He then recounts the many stumbles, bumbles, and...(Read Full Post)