Rove KNEW You Don't Win Elections If The Economy Sucks-So Last Summer....(Emptywheel Nails Bushco)

[kpete]

PBGC Scam: In the Summer, They Still Believed They Could Win
The market was beginning to crash, and Rove knows you can’t win an election if the economy sucks
By: emptywheel Monday March 30, 2009 6:40 pm

I have just one thing to add to the great discussion on the report that the Pension Benefit Guarantee Corporation's decision last summer to move the pension fund out of bonds and into stocks.

.........................

First, we know from the fear-mongering about voter fraud and the plans to use foreclosure lists to vote-cage that the Republicans still believed they had a shot of winning New Mexico, Nevada, Ohio, and Michigan. Last summer, at the time this decision was made but before the switch was enacted (according to the vague dates in the story), Republicans still believed they had a shot at winning the Presidency.

Second, we know that the Bush Administration used federal resources for political ends.

Third, the market was already beginning to tank when they made this decision. And Karl Rove knows you don't win elections if the economy isn't "strong."

Call me crazy. But it sure looks like some Bush flunkie put the potential retirement of a bunch of Americans up in smoke so a guy who married a $100 million sugar momma would have a shot at being President.

more at:
http://emptywheel.firedoglake.com/2009/03/30/pbgc-scam-in-the-summer-they-still-believed-they-could-win/

[KharmaTrain]

1. Also Last Summer They Saw The Writing On The Wall

By last June it was clear that President Obama was going to be the Democratic nominee (not Hillary) and that he stood a better than even chance of winning (while they felt Hillary could be beat). Also, McCain was turning out to be a real inept candidate. He not only wasn't uniting the GOOPers but was losing moderates and independents. Surely these trends were being noted closely both on Wall Street and inside the bushco cabal.

In 2000, I firmly believe the California power fiasco and the sudden rise in oil prices were a GOOP power play to make the economy look bad for Gore. In 2008, it wasn't such an easy card to play...as to trash the economy was to possibly hurt the GOOP. But by last summer, it was starting to become clear that McCain (who would have put Phil Gramm in at Treasury) was in trouble and bets were hedged.

It became real clear when McCain totally screwed up the economic summit (IMHO, it cost him enough votes to make the election close or stealable) and once Obama won, the game was to get as much as you could while you could.