Romney Defends ‘Wall Street’ And ‘Insurance Company Executives’ From Obama’s Criticism

By Alex Seitz-Wald/Think Progress

Appearing on PBS last night with Charlie Rose, GOP presidential candidate Mitt Romney suggested President Obama is risking the very prosperity of the country and the middle class when he criticizes Wall Street and insurance executives:

ROMNEY: He has been the most divisive president I’ve ever seen. He has attacked one American after another, one group after another. He creates these straw men and says that Republicans believe this terrible thing, and aren’t they awful. He went after insurance company executives, Wall Street, all these bad people he finds out there. Look, Americans are not going to be a powerful and vibrant economic engine with a powerful middle class if we attack one another.

Romney doesn’t seem to be concerned with whether there’s any merit to Obama’s criticisms or not; he objects to the mere fact that the president would criticize anyone. For instance, Romney’s defense ignores the fact that Wall Street helped cause the financial crisis and ensuring recession. Obama’s main “attack” on Wall Street was the Dodd-Frank financial reform law, which has hardly hurt the industry.

Of course, Romney himself made hundreds-of-million of dollars in a Wall Street-like investment company. Asked about that company, Bain Capital, later in the interview, Romney said that attacking Bain for laying off thousands of workers is almost tantamount to an attack on capitalism itself:

ROSE: Did you sometimes destroy jobs [at Bain]?

ROMNEY: I’m sure the administration will use every weapon they can think of, some will be accurate, some inaccurate. [But] if they attack the free-enterprise system and capitalism, I think they’ll find themselves on the short end of that argument. I am proud of the fact in the years when I was at the firm that I helped found, Bain capital, every investment we made was designed to grow the enterprise and make it more successfull.

Watch it:

The comments likely won’t help Romney beat the rap off being “Mr. 1 percent.”

The GOP’s Anti-Health Reform Crusade Now Brought To You By Industry Lobbyists

By Tanya Somanader

In an effort to deny more than 30 million uninsured Americans health care coverage, 26 states have filed legal action against the Affordable Care Act which passed last year. But Republican demagoguery costs money and “the [lawsuit's] cost the states have split so far amounts to $46,000.” But Florida Republican Attorney General Pam Bondi has “paid less than $6,000″ for its lawsuit. Why? Because an anti-health care lobbying group is picking up the 26-state tab:

Florida Attorney General Pam Bondi told a state House committee this month that most of the rest is being covered by the National Federation of Independent Business, a group that opposes the law because of what it considers unconstitutional costs and regulations on firms and people.

“They have dedicated a tremendous amount of resources to the lawsuit,” Bondi said Feb. 10. “We’re thrilled, because that’s saving our state money. That’s saving the 25 other states money as well.”

As the Huffington Post notes, the National Federation of Independent Business (NFIB) is no “mom and pop” operation. While dubbing itself “the Voice of Small Business,” NFIB has spent the past two years “yoking itself to the GOP” while simultaneously “jeopardizing billions of dollars in credit, tax benefits and other federal subsidies” at the expense of small businesses. Affiliated with both the U.S. Chamber of Commerceand the GOP “since the Reagan era,” NFIB “is run mostly by and for Republicans” and spent 93 percent of its campaign contributions on GOP candidates. It is no wonder, then, that NFIB is happy to pay to secure the top GOP priority and equally “delighted” to see the pay off.

New Report Reveals Health Insurance Industry Pumped $86 Million Into The U.S. Chamber To Kill Reform

By Lee Fang This morning, Bloomberg reporter Drew Armstrong broke an incredible story revealing that

health insurance companies, like UnitedHealth and CIGNA, funneled $86.2 million into the U.S. Chamber of Commerce in 2009 to pay for the Chamber’s multifaceted campaign to kill President Obama’s health reform legislation. In January of this year, the National Journal’s Peter Stone reported that insurers had pumped $20 million into the Chamber for its anti-health reform campaign. Armstrong’s report exposes the true extent to which insurers worked to fool the public and defeat health reform. However, the report also poses new questions about the role of insurance companies in the health reform debate.

Why did insurance companies try to hide their donations to the Chamber’s anti-health reform campaign? Given their own unpopularity and Obama’s pledge to be the first leader to successfully reform America’s broken health system, the health insurance industry hatched a plan to fundamentally deceive the public, the press, and politicians. Instead of fighting reform tooth and nail, the insurance industry worked to manipulate the process and ultimately kill reforms by adopting what ThinkProgress termed “The Duplicitous Campaign.” In public, health insurance lobbyists and executives promised to support reform and work closely with reform advocates. The top health insurance lobbyist, Karen Ignagni, went to the White House early in the reform debate and promised Obama, “You have our commitment to play, to contribute and to help pass health-care reform this year.”

In private, the health insurance industry worked with conservative think tanks and media, right-wing front groups, and highly ideological trade associations like the National Association of Manufacturers and the Chamber to kill the bill. By using third party groups and ideological cover, the health insurance industry sought to trick Americans into hating reform. In September of 2009, while many in the media still believed insurance executives were honestly supporting reform, ThinkProgress released a report detailing the ways in which the health insurance industry secretly worked to undermine the process and poison public opinion (read it here). We also produced a video with health insurance whistle-blower Wendell Potter, who explained how insurers control the debate to defeat reform:

ThinkProgress busted several anti-reform groups, like Conservatives for Patients’ Rights, Coalition to Protect Patients’ Rights and Center for Medicine in the Public Interest as industry-created fronts used to deceive the public. As ThinkProgress also first reported, health insurance companies like WellPoint and Blue Cross Blue Shield paid hundreds of thousands of dollars to anti-reform talking heads like former House Speaker Newt Gingrich. In December of 2009, ThinkProgress produced an exclusive investigation showing how health insurance executives are also secretly working to undermine and undo reform on the state level by orchestrating state-based constitutional challenges to the law. The question for the press and for politicians becomes: we now know that health insurance companies absolutely lied to the public about its role in the reform process in 2009. How much are health insurers funding efforts to repeal the law and weaken health reform regulations?

According to a new report by HCAN, a pro-reform group, health insurers posted a 22 percent increase in profits for 2010, largely by shedding customers. How much of that money — money from health insurance premiums — is being used on right-wing lobbying campaigns instead of actual treatments and health care for the sick?