Saturday, April 18, 2009

Why I like T-Mac (to lose)

Our local Democrat announced his support for Terry McAuliffe for governor. I was inspired. I endorse McAuliffe also, as the weakest of the three Democrats running for governor.
Why? Starting with recent history.
He was chairman of Hillary Clinton's presidential campaign. How'd that turn out? In 2007, Rush Limbaugh said there was an 80 percent chance that Hillary would be elected president. They blew the largest front-runner lead in presidential history. And T-Mac was right there.
Before that, he was chairman of the Democratic National Committee during George W. Bush's first term. How'd that go? In 2002, the Democrats lost control of the Senate with several close defeats.
And in 2004, the weak Democratic presidential field produced John Kerry. He may know crepes, but he gives people the creeps.
And before that, how about Global Crossing? I've heard rumors about him making lots of money in that company before it went under. What's the true story?
Commenting on Chris' column has helped sharpen my focus. Simply, McAuliffe made money while other investors lost. In a post-AIG, post-bailout world, that's not the sentence a politician wants to be described by.
If you are touting McAuliffe's business experience and ideas, you look at the whole record. Global Crossing might have been just one small mistake in a stellar career, or the one little spark that can torch a forest.
People are mad about the bailouts - That government has do them. That the banks and companies need them. Mad at the thought that someone got rich and left the taxpayers with the bill. A candidate who made $17,900,000 from a company that went bankrupt is not far from the hypothetical person people are mad at.
If amateur bloggers can whack McAuliffe like a pinata over Global Crossing, what are the professionals going to do? If T-Mac is still standing after the June 2 primary, he doesn't stand a chance in November.


kestrel9000 said...

In 2002, the Democrats lost control of the Senate with several close defeats...Yep, and all the Republicans had to do to seal the deal was murder a man and his wife and daughter.

Suspicions were not allayed when Bush slipped in a statement and offered his condolences for "the loss of the senate.

Mike said...

Paranoia will destroy ya.

Alan L. Krishnan said...

This is a poor reflection of hatred riding over knowledge. McAuliffe did not make any 17.9 million out of his investment :) And, McAuliffe was not a part of the management at Global Crossing - he was just a lucky investor.

Perhaps you should investigate the many similar investments where McAuliffe lost hundreds of thousands?

If you are from the real world, you will understand that early investors, aka angel investors and venture capitalists, lose millions on their investments in the hope that one investment will hit the gold.... I know, I just saw a group lose over $30 million in 5 years funding a great company that could not find buyers for their product....