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RUSH: First it was Cory Booker, who said that Obama’s attacks on Romney and Bain Capital he didn’t like. They were nauseating. This kind of politics he doesn’t like. Then Fast Eddie Rendell, the governor of Pennsylvania, echoed Cory Booker, ripping into Obama for attacking Romney and Bain. And Lanny Davis, Mr. Bill Clinton defender, goes on TV and totally rips Obama for the campaign of blaming Romney and Bain Capital. And the latest, Deval Patrick, governor Massachusetts; the latest is now Bill Clinton. And you may not have heard this ’cause it was on CNN last night on Piers Morgan, and nobody is watching CNN. But we have the sound bite.

There was a fill-in host for Piers Morgan. You know who the fill-in host was? Harvey Weinstein. You know who Harvey Weinstein is? You don’t know who Harvey Weinstein is? Miramax. Former Miramax chief, now runs the Weinstein Company. You’d know his movies. Huge Hollywood mogul. He’s made his share of very good ones. But Weinstein is one of these huge, slavish Bill Clinton supporters. When Clinton’s portrait was unveiled in the White House, Weinstein was there in the front row. That’s how tight they are. So Harvey Weinstein, who I’m not aware of having made a media appearance as a guest, is guest-hosting the old Larry King show on CNN last night, and he’s got as his guest Bill Clinton, and here came the question from Harvey Weinstein. “Romney keeps talking about his experience at Bain Capital, producing jobs. Do you think Romney can produce jobs that Obama can’t?”

CLINTON: I think he had a good business career. If you go in and you try to save a failing company, and you and I have friends here who invest in companies, you can invest in a company, run up the debt, loot it, sell all the assets, and force all the people to lose their retirement and fire them. Or you can go into a company, have cutbacks, try to make it more productive with the purpose of saving it. When you try, like anything else you try, you don’t always succeed. I don’t think that we ought to get into the position where we say this is bad work. This is good work. There’s no question that getting up and going to the office and basically performing the essential functions of the office, a man who’s been governor and had a sterling business career crosses the qualification threshold.

RUSH: Oh-ho-ho-ho, yes! So Bill Clinton describes Mitt Romney, been governor, sterling business career, crosses the qualification threshold. Yes, Mr. Weinstein, I think he can produce jobs that Obama can’t. That’s how he answered the question. Harvey Weinstein’s question was, “Can Romney produce jobs that Obama can’t?” Translation is: Look, he’s been in business. Does that make him more qualified than Obama? Clinton said: “Yeah, it does.”

That’s basically what Clinton was saying. (imitating Clinton) “Hey, you know, there’s two kinds of private equity guys and I think it’s good work, it’s good work, there’s no question getting up and going into the office and basically performing the essential functions of the office, a man who’s been governor, had a sterling business career, crosses the qualification threshold, Harvey. Yeah, I think Romney’s a great guy, Bain Capital, great. You and I both know these private equity guys. Hell, I’m living off of ’em, Harvey. I fly around on those private equity guys’ jets. Back in the old days before my heart gave out I was out chasing women with ’em. I love these private equity guys that got two, three jets. I’ll give you names. I’m not gonna give you names here, but I mean I’ve been all over the world with them. You know, when I had to go over to Bangkok, give a little speech, how do you think I get there, Harvey? I don’t get there on Obama’s plane. I get there on these private equity guys’ jets and they don’t charge me for it. And then we all go out and party. Now, I don’t think Romney’s a big party animal and all that, but I mean he’s made a lot of money in private equity and he’s saved a bunch of companies, guy is qualified. I think, yeah, I think he’s okay. I think he’s perfectly qualified, Harvey.” That’s Bill Clinton.

So Romney this afternoon on CNBC was asked about this. “Do you believe that these attacks on you are unfair? Why have you not more publicly embraced your past in private equity?” Which is a weird question because Romney has been actively defending his private equity days. He hasn’t been running from it. Romney said, “Well, I’m happy to embrace my past in private equity. I’m very proud of my record. I’m proud of the work that I’ve had both as the governor of Massachusetts and as well as the leader of the Olympics. And certainly at Bain Capital, an enterprise I helped found and I think Bain Capital has a good and solid record. I was happy to see President Clinton made a similar statement today, called my record superb. I certainly believe it’s a record that shows I understand how the economy works.”

So you’ve got Clinton out there praising Romney’s qualifications, performing the essential functions of the office, been governor, sterling business career, yes, he can create jobs, he’s done it. Romney thanks him for it. Meanwhile, Obama’s out in Minnesota as close as he can get to Wisconsin without being there, blaming Congress and Bush for no jobs, after being in charge for three-and-a-half years. So you add Clinton to Deval Patrick, Fast Eddie Rendell, Cory Booker and Lanny Davis, and there have been others, I just can’t think of them off the top of my head. But there are other Democrats who have come out and defended private equity. ‘Cause they know.

These Democrats that have served in office or on K Street couldn’t get along without the private equity guys. The private equity guys are at the top of the list in membership at exclusive golf clubs. I mean these are the guys that make the world go round for politicians. Private equity is what makes the world go round in the private sector for politicians. And for Obama to be out there ripping it, and it’s the primary thrust of his campaign, and it’s all being thrown back in his face like a giant pie. So after all this, Clinton is gonna go to Wisconsin to campaign against Scott Walker, which you’d have to say is campaigning for Obama. Sound bite eight. This is Clinton last night with Harvey Weinstein, and after this answer that you just heard, Weinstein says, “The race between Obama and Romney, how close do you think it really is going to be?”

CLINTON: I still think the president will win by five or six points. But it’s closer than that today. Because of the condition of the economy. Still, people feel uncertain, you know, when you got a lot of people getting up in the morning looking in the mirror, starting the day thinking they’ve failed, that’s a problem.

RUSH: They think Obama’s failed.


RUSH: I’m gonna give you a wild theory. It’s not a theory, by the way, that you haven’t heard. You’ve heard me chat about this in circuitous ways on previous occasions. Snerdley just asked me, “Do you think Romney set a trap for these guys?” Because for the longest time the theme in the media was, “Boy, Romney, he’s not gonna have a defense on this Bain stuff. Once Obama lets loose, that’s it! How’s Romney gonna defend it.” All of a sudden the Bain assault hits, and who is it defending Romney but a bunch of Democrats?

The question was: Do you think Romney knew that these Democrats like private equity? He knows them and that they’re not gonna sit there and just let private equity go down the tubes. I said, “Well, it’s possible,” but I think there’s something else going on here. Folks, with what Bill Clinton just said, we basically heard Bill Clinton endorse Romney! That’s what you just heard. When you strip it away, Bill Clinton just endorsed Romney. And he covered his bases with the next line.

(impression) “Well, I think Obama is gonna win by five or six points, but people are still getting up and they’re looking in the mirror and they’re starting the day thinking of failing.” That’s not an endorsement of Obama. What I think is happening, is this economic disaster is real. It’s not an academic exercise that’s happening over there somewhere that doesn’t affect anybody. It’s not a bunch of people theorizing in the faculty lounge. This is REAL. There is genuine economic destruction taking place that is directly tied to the policies of Barack Obama.

Now, what party does he belong to?

The Democrat Party.

We still live in the real world, and I’m telling you: The Democrat Party has people in it that are scared to death over how in the world they are gonna recover from this. The heck with Obama. He’s a passing politician. He gets reelected or he doesn’t, but he’s gone someday. But the Democrat Party goes on, and it is as indicted in this as Obama is. And I’ve often speculated (or asked), “Are there any adults left in this party who have any sense at all what’s happening to them here?”

Nothing in the last 3-1/2 years that’s happened is how you build a party, folks. There’s no party-building going on, and the polling data — and these people live and die by it. The numbers of people that self-identify as conservatives and Republicans is overwhelmingly atop Democrats who self-identify as Democrats. I think when you’ve got all these Democrats, elected and otherwise, coming out to defend private equity — and, in a sense, defend Romney here — it is because the Democrat Party is being taken down the tubes along with Obama.

And, my gosh, if this were happening under a Republican? If we had a Republican in office and this was happening, how would we feel? We’d feel like the end of our party was here. “How do we ever convince people that we know what we’re doing and to vote for us again? ‘Cause we’re not gonna give the store away to buy votes. How are we gonna do it?” They have got to be asking themselves that question. I mean, adult, ranking Democrats. There aren’t very many of them, by the way, but there are enough, and I think that’s what’s going on.


RUSH: I should add Steny Hoyer is also saying Bill Clinton was correct when he defended Romney’s work at Bain. Steny Hoyer just today said that Clinton was correct. So add him to the list criticizing Obama.


RUSH: Folks, I’m gonna tell you something. I’m very serious about this. This business of all these Democrats defending Romney and defending Bain, defending private equity, if it were just that, that’d be one thing. But in doing that, they are undermining their president. They are undermining Obama. And Obama had better do something about this or it’s gonna spin out of control on him.

This is a much bigger deal than it appears. We’re all getting our chuckles out of it. We’re all getting our yuk-yuks out of it. But this is insubordination. This is political insubordination involving the president of the United States, public humiliation of the president of the United States. And if he doesn’t do something about it, it’s gonna spin further and further out of control.

It’s Open Line Friday. And I’m gonna take phone calls in this segment. I just realized, I only took one so far. That’s — I’m sorry about that. But I’m just loaded here. And you know me, I always have so much to say. It’s 800-282-2882 if you want to be on the program. So a quick little monologue, couple sound bites, then phone calls.

Look at this as a football team, Mafia family, I don’t care. You’ve got the president of the United States and his number one campaign premise is destroying Romney, taking Romney out by virtue of his being a huge capitalist, Bain Capital, private equity. And in the midst of your attack, prominent Democrats, including a former president, come out and defend Romney, essentially endorse Romney. Cory Booker, the mayor of Newark, a rising Democrat star. Fast Eddie Rendell, entrenched, the governor Pennsylvania, done everything in the Democrat Party. Lanny Davis, number one defender of Bill Clinton, Hillary Rodham Clinton. Deval Patrick, the governor of Massachusetts, who has doubled down today on his defense. Steny Hoyer has come out and said that Clinton was right in what he said about Romney.

Now, folks, the Democrats, the White House here, somebody, Axelrod, “Fluff,” whoever, they had better start disciplining these people. I mean it’s woodshed time. Look at what happened to David Stockman back in the eighties when he undermined Reagan and supply-side economics, look what happened. A very public trip to the woodshed. Now, the Democrats had better start disciplining these people, and it’s gonna be tough. How do you discipline a former president? How do you discipline the sitting governor of Massachusetts and Pennsylvania? How do you discipline the mayor of Newark, who is one of your rising stars? Because they are telling the truth, and the truth is a slippery slope for Barack Obama and the Democrat Party. They are not often found on the same side as the truth. That’s what’s so remarkable about all this in one way.

Admit it. You’re shocked just because the Democrats are opposing Obama. They’re supporting Romney. But the double shock is they are telling the truth at the same time, which they’re not known for telling the truth. Can we just be honest here? The Democrats and the truth are strangers. The Democrats normally can’t use the truth. The truth about what they are and what they want to do would kill them, as evidenced by this. When’s the last time the Democrats came out for capitalism, private equity, Wall Street, when have they done it? Well, the only time they’ve done it in recent years is to defend the Republican nominee. Now, it could well be, and I think we must consider this. Clinton might be doing it just ’cause Obama’s black. I don’t know. Fast Eddie Rendell, Lanny Davis, might just not like Obama ’cause he’s black. There might be racism causing them to do it. But that will not explain Deval Patrick, Cory Booker.

I’m telling you, the only time I can recall in many years prominent Democrats defending capitalism is in the context of endorsing the Republican nominee while undermining their president’s primary reelection strategy. Once you admit one truth, others are likely to follow. And the truth will doom the Democrat Party. And before you know it, the whole edifice of liberalism and progressivism slides down the hill to the bottom. Folks, I’m not trying to be funny here. I’m trying to get everybody to realize how profound what’s happening is. They’re not just defending Bain, and they’re not just defending Romney. They are defending capitalism. They are defending the number one enemy of their sitting president. Whether they’re aware of that or not, I don’t know. But they’re doing it. And in the process, they’re not just undermining liberalism or Obama. They’re undermining their whole ideology.

I’m not trying to make it bigger than it is, and I’m not saying it’s turned things around. This is profound for Obama. This is profound for the presidential reelection effort. Once you admit one truth, others are likely to follow. I don’t know how you let this go if you’re Obama without disciplining these people. But then again, I don’t know how you discipline them. What does he do? But I’m gonna tell you, if Barack Obama causes a worldwide depression, the Democrat Party is not gonna survive it. And the Bill Clintons will be forgotten, footnotes in history. The Democrat Party will be in the ash heap of history if this guy is allowed to do what he wants to do. It isn’t Bush. It’s not Reagan. It’s not any of Obama’s enemies.

Barack Obama is the one that put us on this path, and he’s driving the car, he’s got the keys, and he’s got the pedal to the metal. You remember what happened — to illustrate my point — when Gorbachev came out with Perestroika and Glasnost, what was Gorbachev trying to do? Save himself; save the Soviet Union. They knew it was over, for whatever reason, it was Star Wars, but they knew it was over. They didn’t want to give up communism, they couldn’t, so they tried to parcel out a little freedom. And they told a few little bits of truth, and it all imploded not long after the Berlin Wall came down. And all it took was for one Marxist to admit that it didn’t work. All it took was for one Marxist to admit they needed to change and suddenly it all went down the drain, at least as far as the Soviet Union is concerned. Not all of capitalism, but that branch of it, which was pretty important and big at that time.

So what is happening here is of profound weight. A little honesty is a dangerous thing for Democrats. But even if they were lying, still, the fact that they are publicly undermining Barack Obama, and for all intents and purposes endorsing his opponent and his credentials, his qualifications. This is not happenstance. It’s not coincidental. What do we have?
Deval Patrick, governor of Massachusetts, last night, CNN. Again, nobody saw it, so I’m gonna play it for you. Anderson Cooper said, “You have said that some of the attacks on Bain Capital have been distorted. Some of the ways that Bain Capital’s been portrayed have been distorted. How so?”

PATRICK: I don’t think Bain is a bad company. I don’t think that — that private equity has an inappropriate role in the private economy. The question is, what was Governor Romney’s record when he was at Bain — (crosstalk)

COOPER: But the Obama campaign has had people coming forward saying this is vulture capitalism.

PATRICK: You haven’t heard — Anderson, you haven’t heard that from me. I spent most of my life in the private sector. I respect Bain, and I respect Bain’s role.

RUSH: He doubled down. Here’s Anderson Cooper doing his best, “Come on, just tell us it’s vulture capitalism. Please, just parrot Obama, this is vulture capitalism.” “Ah, ah, I like it.” You might not-a heard this ’cause Cooper was talking over him, but Deval Patrick said, “Romney created a lot of wealth.” Now, the White House message is Romney destroyed jobs, Romney destroyed companies, but took profits out for himself. That’s what the White House wants the Democrat Party saying. Here’s Deval Patrick after the controversy has erupted doubling down on it saying, “No, no, Romney created a lot of wealth.” “Anderson, you haven’t heard vulture capitalism from me. I spent most of my life in the private sector. I respect Bain. I respect their role.” It’s starting to make me wonder about Bain, to tell you the truth.

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