News Articles By Mary Bottari

Vengeance is Mine, Sayeth Newt Gingrich

While Mitt Romney came out ahead in New Hampshire, his front-runner status will soon be under the gun by some very deep pockets backing Newt Gingrich.

As previously reported by CMD, over $3 million dollars worth of ads cut by a Super PAC controlled by Mitt Romney's former aides, dropped Gingrich like a stone in Iowa. Gingrich sank from an overconfident front runner, who told ABC's Jake Tapper "I will be the nominee" on December 1, to an embittered candidate who placed fourth in Iowa a short time later.

After ineffectually whining about being totaled by Mitt Romney's "negativity" in the Iowa primary, Newt Gingrich may have decided that revenge is sweeter. A pro-Gingrich Super PAC is preparing to unleash a barrage of negativity on South Carolina voters.

Newt Gingrich's Baggage

The new Super PACs dominating the air wars in Iowa and New Hampshire were unleashed by the Citizens United revision of the First Amendment to allow individuals and corporations to give unlimited amounts of money to influence U.S. elections. Super PAC spending cannot be directly coordinated with a candidate, but provides candidates with an avenue for negative attack ads that they do not have to put their name on. (Numerous groups are calling for amending the Constitution to overturn the decision.)

The most omnipresent ad by the pro-Romney "Restore Our Future" Super PAC led with the line "You know what makes President Obama happy? Newt Gingrich's baggage." It then went on to detail a scorching list of allegations, including that Gingrich was paid $30,000 an hour by Fannie Mae and Freddie Mac, two organizations that "helped cause the financial crisis."

"I've been Romney-boated," Gingrich complained to the press in Iowa, referring to the ad campaign in 2004 launched by the group, Swift Boat Veterans for Truth, that helped sink presidential candidate John F. Kerry. According to the Campaign Media Analysis Group, 45 percent of all TV ads in Iowa have been attack ads against Gingrich, including this no-hold-barred attack by Ron Paul's campaign. (Note that Paul does not hesitate to put his name right on the ad.)

The pro-Mitt Romney Super PAC massively outspent the candidate's official presidential campaign on advertising, reportedly spending $7 million to the candidate's official $5 million so far. While Romney dodged responsibility for the negative ads, Gingrich put is succinctly: "It's very hard to run $3.5 million of negative ads and pretend it's not yours and not have people think you're being dishonest."

"The Man that Destroyed Us"

Now, a pro-Gingrich Super PAC is getting ready to unleash a world of harm on the Romney campaign. According to the New York Times, billionaire casino owner Sheldon Adelson has cut a $5 million check to the "Winning Our Future" Super PAC. Adelson has long been a Gingrich supporter.

Winning our Future just released a devastating 30 minute film, When Mitt Romney Came to Town, in advance of the South Carolina primary ten days away. The Super PAC has reserved more than $3.4 million in advertising time in the state to air clips of the movie as ads.

The ads and the film claim that as CEO of Bain Capital, a venture capital firm, Romney bought American businesses simply to shut them down. Romney describes his tenure at Bain as one in which he created "100,000 jobs." But the ad characterizes Romney and Bain "as group of corporate raiders ... more ruthless than Wall Street" and intones, "For tens of thousands of Americans, the suffering began when Mitt Romney came to town." A woman put out of work by Bain, characterizes Romney as "the man who destroyed us," a potent message in a country that currently has 25 million unemployed or underemployed citizens.

Gingrich characterized Romney and Bain as "rich people figuring out clever legal ways to loot a company," but Gingrich of course has his own private equity supporters including Blackstone Group and KKR & Co. according to the Boston Globe.

As for the truth of the matter, an old Bain prospectus obtained by the Los Angeles Times shows a stunning 88 percent average annual rate of return under Romney's leadership. But did the firm earn this money by creating jobs or destroying them? The Washington Post recently gave Romney three Pinocchios for his unsubstantiated job claims.

Break Up Bank of America Before it Breaks Us

On Monday, Bank of America (BofA) stocks briefly traded for under $5. Yes, you could buy a share of BofA for less than the noxious debit card fee they tried to force down your throat.

BofA is massive, with assets equivalent to 15 percent of U.S. GDP. So why is it trading for the price of a latte?

Because Wall Street's dirty little secret is that BofA is a zombie bank. Now the reek is getting too strong to ignore.

FOX News, OWS, Banksters, and Bombs

Last week, tragedy was averted when savvy security at Deutsche Bank (DB) in Frankfurt, Germany, spotted a suspicious package and sequestered a letter bomb intended for the DB CEO. This was the second time Deutsche Bank was attacked in this manner. In 1989, their CEO was killed by a bomb later traced to violent extremists in Germany's Red Army Faction.

Scanning the horizon for someone to blame for the latest attack on Germany's largest bank, FOX news pundit Dan Gainor worked "the Internets." Did he detail Deutsche Bank's track record of making friends by ripping off consumers and foreclosing on their homes? Did he mention that Deutsche Bank stirred public ire when it was bailed out by multiple governments, including two billion from the U.S. Federal Reserve? Did he even bother to notice that it was widely reported that an Italian anarchist group had already claimed responsibility for the attack?

ALEC Sparks Uprisings in Wisconsin and Ohio

Harold Schaitberger, President IAFFOn the one-year anniversary of an important American Legislative Exchange Council (ALEC) meeting in Washington D.C., Wisconsin's public safety officers gathered to prepare for the next stage in the fight for labor rights.

Some 250 police and firefighters signed recall petitions, loaded up on maps and assignments and to listened to guest speakers at a "Recall Walker" gathering at Madison's South Central Federation of Labor. Mark Sanders, President of the Ohio Association of Professional Firefighters, was there to pass the torch and Harold Schaitberger, National President of the International Association of Professional Firefighters (IAFF), was there to reminded the crowd about the critical role ALEC played in the Wisconsin and Ohio uprisings.

As Zuccotti Park is Cleared, Congress Moves to Gut Financial Reform

In the dead of night November 14, the movement to hold big banks accountable for their crimes took two major hits. Occupy Wall Street activists were swept from Zuccotti Park as radical members of Congress moved to gut funding for the Commodity Futures Trading Commission (CFTC) and advance a series of shocking proposals to roll back financial reform.

Walker's "Anything But Jobs" Special Session Wraps

Wisconsin Governor Scott Walker has promised to create 250,000 new jobs. In advance of a planned gubernatorial recall election, Walker announced last month that the State Legislature would focus "like a laser" on job creation. With his "special session" on jobs now concluded, it is clear that the legislative package had little to do with jobs and much to do with spin, special interests and the illusion of momentum.

Remember, Remember the 5th of November! Bank Transfer Day

"Bank Transfer Day" Facebook pageNovember 5th is "Bank Transfer Day," a hopping Facebook campaign urging Americans to move their money out of big national banks and into local banks or credit unions.

Day Inspired by Bank Of America Fee

Kristen Christian, a 27-year-old Los Angeles art gallery owner, organized the effort after Bank of America (BofA) issued a new $5 monthly fee to debit card users that would be implemented in early 2012. The fee targets those who have less than $20,000 in Bank of America accounts. The "Bank Transfer Day" movement cites this as a direct attack on the impoverished and working class. BofA is also a notorious foreclosure mill, doing little or nothing to help their clients facing foreclosure. The Bank Transfer Day Facebook page has 35,000 likes and support for the movement is growing by the second.


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