The Forest and Trees of Politics

Obama's objection to Bain Capital is telling, political posturing aside.

Private equity firms are limited partnerships made up of people who, generally, think they are smarter than most other people, especially in business. (So far they have a lot in common with politicians.) But they make their living looking at companies that are failing, doing poorly or otherwise underachieving in the marketplace with the eye that they, Bain, can make them better, with the current management or without them. After analysis they pick a target, negotiate a price, buy it and then try to set it right. This almost always results in restructuring the company, with some personnel advanced, some removed and some business lines similarly changed. This involves firing people, closing plants or offices or projects and generally reshaping the company. The objective is to keep the company alive and restore profitability, profitability being the company's only true objective.

Excluding people, cutting people out, is truly offensive to the left. They cannot do it. And people who do it truly offend them.

In a way this silliness over Bain is symbolic of the clash in out culture. The left would continue the failing part of a business out of kindness and allow the whole system to fail. The right would fire Bob Cratchit to keep the business afloat.

It was said that General George McClellan was the finest general of his time, his country's best analyst, best tactician, best strategist. Lincoln appointed him to lead the Army of the North. But he suffered; he could not stand to see young men die. Worse, he could not stand to have his decisions lead to the death of young men. So he danced with Lee, who had no such reluctance, and the war dragged on with countless unplanned deaths, but deaths nonetheless, until Grant, a brute but a leader, took over.