- Election 2012: Is Mitt Romney a John Kerry Impersonator?
- How Mitt Romney's Bain Career Will Inflame the Class Warfare Debate
He flip-flops. He's super-rich. And he has nice hair.
Only this time it's not Sen. John Kerry, D-MA. It's Republican candidate Mitt Romney, the former Governor of Massachusetts.
The comparisons are so similar Election 2012 pundits now compare it to the 2004 election which pitted Kerry against the incumbent George W. Bush.
Here's another similarity: Neither one comes off as likable-- not even to their supporters.
Even still, like Kerry, Romney has been heralded as the candidate most likely to defeat the incumbent even though he hasn't inspired or energized voters.
That may be why Republicans went through candidates earlier this year like they were Baskin-Robbins flavors of the month.
In the end, voters finally chose Romney over Rick Santorum, favoring the uncharismatic yet stable candidate over the exciting but controversial one.
But will Romney and Kerry also share an election loss?
Now that Mitt Romney is increasingly likely to be the Republican challenger to Democrat Barack Obama this November, that same divide is likely to become even more inflamed.
In fact, Romney's career as the CEO of private equity company Bain Capital ensures the class warfare debate will only get uglier.
That's why it's important to understand what private equity companies really do, what role Romney played at Bain, and how class warfare combatants will size each other up.
The Truth Behind Private EquityBain Capital is a private equity shop. What you need to know is that "private equity" is a rebranded name. Private equity companies used to be known as leveraged buyout shops.
But, leveraged buyouts (LBOs) have a bad reputation, so the industry -- or club, which it more closely resembles -- began referring to itself as private equity. It's the same as junk bonds being rebranded as "high yield debt."