If Mitt Romney Becomes President I’m to Blame

Ten years ago I ran for the Democratic nomination for governor of Massachusetts — which would have given me the opportunity, in the general election, to whip Mitt Romney’s ass.

I blew it. In the final week of the primary I was neck and neck with the state treasurer, but then my money ran out, which meant my TV ads stopped. Declining the suggestion of my campaign manager to take out a second mortgage on my home, I frantically phoned anyone I could find who hadn’t yet contributed $500, the maximum state law allowed. I didn’t raise beans. In the end, the treasurer won the primary, Romney won the general election, and I went back to being a professor.

But my fantasy of beating Romney may be nothing more than a fantasy because Romney had and still has something I don’t, and I’m not referring to his gleaming white teeth, carefully-coiffed hairline, or height. He has money — and he has connections to much more money. Mitt Romney was and is the candidate of big money.

In the last weeks before the just-completed Iowa caucuses, Romney spent over $3 million relentlessly torpedoing Newt Gingrich — cutting Gingrich’s support by half and hurtling him from first place to fourth. But Romney kept his fingerprints off the torpedo. Technically the money didn’t come from the Romney campaign.

It came from a Super PAC called “Restore Our Future,” which can sop up unlimited amounts from a few hugely wealthy donors without even disclosing their names. That’s because “Restore Our Future” is officially independent of the Romney campaign — although its chief fundraiser comes out of Romney’s finance team, its key political strategist was political director of Romney’s 2008 presidential campaign, its treasurer is Romney’s former chief counsel, and its media whiz had been part of Romney’s media team.

“Restore Our Future” is to Mitt Romney’s campaign as the dark side of the moon is to the moon. And it reveals the grotesque result of the Supreme Court’s decision a year ago in Citizen United vs the Federal Election Commission, which reversed more than a century of efforts to curb the influence of big money on politics.

If income and wealth in America were as widely shared as in the first three decades after World War II, we’d have less reason to worry. But now, with an almost unprecedented concentration of money at the very top, Citizens United invites the worst corruption our democracy has witnessed since the Gilded Age.

Other candidates have quietly set up Super PACs of their own, but his unique ties to big money enable Romney to take most advantage of the Court’s scurrilous invitation.

The New York Times reports New York hedge-fund managers and Boston financiers had contributed almost $30 million to “Restore Our Future” before the Iowa caucuses. And “Restore Our Future“‘s faux independence allowed Romney to publicly distance himself from them, their money, and the dirty work that their money bought.

More than anyone else running for president, Mitt Romney personifies the top 1 percent in America — actually, the top one-tenth of one percent. It’s not just his four homes and estimated $200 million fortune, not just his wheeling and dealing in leveraged-buyouts and private equity, not even the jobless refugees of these financial maneuvers that makes him the Gordon Gekko of presidential aspirants.

It’s his connections to the epicenters of big money in America — especially to top executives and financiers in the habit of investing for handsome returns. And there are no better returns than tax benefits, government subsidies, loan guarantees, bailouts, regulatory exemptions, federal contracts, and trade deals generating hundreds of millions if not billions of dollars a year.

Romney, in other words, is the candidate Citizens United created, the creature given life by the Supreme Court as Dr. Frankenstein. He is the true son of Scalia, Roberts, Kennedy, Thomas, and Alito.

Given what the Court has wrought, my conscience is less burdened. Had I whipped Romney’s ass ten years ago I might only have delayed his awakening.

About Robert Reich 547 Articles

Robert Reich is the nation's 22nd Secretary of Labor and a professor at the University of California at Berkeley.

He has served as labor secretary in the Clinton administration, as an assistant to the solicitor general in the Ford administration and as head of the Federal Trade Commission's policy planning staff during the Carter administration.

He has written eleven books, including The Work of Nations, which has been translated into 22 languages; the best-sellers The Future of Success and Locked in the Cabinet, and his most recent book, Supercapitalism. His articles have appeared in the New Yorker, Atlantic Monthly, New York Times, Washington Post, and Wall Street Journal. Mr. Reich is co-founding editor of The American Prospect magazine. His weekly commentaries on public radio’s "Marketplace" are heard by nearly five million people.

In 2003, Mr. Reich was awarded the prestigious Vaclev Havel Foundation Prize, by the former Czech president, for his pioneering work in economic and social thought. In 2005, his play, Public Exposure, broke box office records at its world premiere on Cape Cod.

Mr. Reich has been a member of the faculties of Harvard’s John F. Kennedy School of Government and of Brandeis University. He received his B.A. from Dartmouth College, his M.A. from Oxford University, where he was a Rhodes Scholar, and his J.D. from Yale Law School.

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