A Kibitz to the Edwards Campaign: Financial Services $$$ on the HRC Campaign Lists

[CorpGovActivist]

To: Blackhatjack and Other Edwards Enthusiasts
From: An Armchair QB
Date: November 9, 2007
Re: HRC's NY-Dense Financial Services Contributors List

If I were a speechwriter for John Edwards, I'd have him try out this simple phrase on the stump: "Hillary's campaign finance list is chock full of the financial services companies that have foreclosed on Iowans' farms and Iowans' homes. They made those contributions to her campaign from the proceeds of predatory lending practices. I bet you if you look at your mortgage payment booklet when you get home, you can find that company's name in her campaign list. My parents worked hard to keep a roof over our heads; but back then, if you ran into problems, you could talk to your local banker and work something out until times got better. Not anymore. These big, impersonal financial conglomerates based out of New York don't care about what their practices do to Main Street in Des Moines or Sioux City. She knows their lobbyists' concerns more than she knows yours. Sure, I know, she's the Senator from New York, and some will say it's only natural that companies based in her state would give to her. But when it comes time to make the hard choices to reform the system, who will have her ear? Iowa families, or New York bankers?"

WARNING: Using this stump speech may raise the issue of Edwards' stint with the hedge fund.

BONUS: Rudy's list is chock full of them, too.

- Dave

[Blackhatjack]

1. Excellent! And Bring on the Hedge Fund Issue and Let's Get It On The Record...

An excellent approach to this most important issue, and one which will eventually find its way into the political debate before the General Election in 2008.

AS far as the warning:

The innuendo about Edwards' short term relationship with Fortress Investments has been far worse than the actual facts about that relationship. I would welcome the opportunity to put the truth out there in a forum that garners public attention.

The number of financial investment companies running hedge funds who have contributed to and backed Clinton and Obama far outdistance Edwards involvement with one Investment Company that operated a hedge fund.

[CorpGovActivist]

2. As ARMs Continue to Reset...

... and as the credit crunch hits smaller businesses, this issue is going to resonate.

Most people hate bankers as much as they do lawyers!

; )

- Dave

[w4rma]

4. I dislike bankers much much much more than lawyers. (nt)

[Blackhatjack]

6. When people get in trouble, I rarely hear them say "I've got to call my banker"

[CorpGovActivist]

8. In Some Venues, the "Moneylender" Bible Story...

... would resonate, too (looking beyond Iowa).

"We've got to throw the moneylenders out of our campaigns, and put the financial system's focus back on American families," would be a good way to softly incorporate that.

- Dave

[Blackhatjack]

10. I have my own thoughts as to why there has not been more criticism of the financial industry

The whole truth has yet to come out about both the current state of the financial industry AND the wrongdoing by the financial industry.

The amount of pain that has been suffered so far pales in comparison to that coming down the pike in the months ahead.

Any Presidential candidate making conclusory statements about the financial industry today stands a good chance of being proven wrong or at the least inaccurate as the truth finally leaks out.

I predict in 3 months, by the time post holiday billing comes due, enough pain will be present that the truth will begin to be revealed.

If a candidate made a statement condemning the financial industry without more evidence to back it up, they would be condemned themselves for contributing to the loss of pubic confidence and making the matter worse.

Just wait.... when the credit card companies decide that consumer purchasing has hit bottom they will slam the door on consumer credit cards and loans. That will be the point that there will be no chance of further hiding the real state of affairs. Until then, credit card issuers will finance consumer purchasing through the holidays because they earn more from merchant fees than consumer fees. However, nothing is going to head off the crash in consumer credit, which when combined with massive foreclosures and resetting mortgages, is going to put us in a huge recession. I think they know this right now, but they will let this scenario play itself out.

[CorpGovActivist]

13. The Candidate Who Gets out in Front on This...

... reaps the votes.

It's a mistake to keep one's powder dry on this. The anger is there to be tapped now.

I bet if he test-marketed it in one small speech, it would be a huge hit.

- Dave

[Blackhatjack]

14. I think you are right... but it is fraught with danger because of what we do not yet know...

... I am sure they are considering it even as we speak.

[CorpGovActivist]

15. Cold/Cautious/Calculating ... or Confident/Acts on Intuitive Understanding...

... of where this is likely headed?

Choice A sounds like another candidate.

Choice B could make him the breakout candidate.

After Iowa, it's either on to NH, or home to nurse a case of the coulda/woulda/shouldas.

- Dave

[Blackhatjack]

16. If and When Edwards Decides to go Plan B it will have to be ALL OUT TAKE NO PRISONERS...

There really is no middle ground on this one.

If there is one vulnerability of political strategists, it is that they tend to delay appropriate actions looking to time it for the maximum effectiveness. And sometimes the optimum time passes them by.

If I were advising Edwards on this, I would make it part of a series of speeches over 7 days where I addressed the problems inherent in the financial industry that will have to be addressed by the next President, and highlight the actions being taken by the financial industry which will most assuredly have a negative affect on all voters across the country.

To take this stand his entire organization needs to be prepared for a bloody fight with a group which is presently keeping a low profile.

[CorpGovActivist]

17. Rapid Response '92 Is the Model...

... anyone playing at this level should have no cobwebs growing on their internal cogs.

After he highlights the problem, he can offer an optimistic assessment: "The right President can work with Congress to build on the fundamental strengths of America, and re-harness them to put these things right."

If the issue is that he's worried about being tagged as gloom and doom, or as exacerbating the crisis, then he can easily incorporate an optimistic solution statement into the stump speech.

This is timed chess, not afternoon checkers at the country store.

- Dave

[Blackhatjack]

18. The whole idea of 'rapid response politics' is a misnomer....

To the public it looks like a campaign is on their toes because they can get a response out in hours after a newsworthy event.

However, the truth in most situations is that the political strategists for a candidate have already brainstormed the great majority of 'what if' events in advance, and have in the can a basic response in case one of these events arises.

The public tends to give unwarranted credit to a political candidate who can respond quickly with a well supported response as opposed to a political candidate who takes longer to give a more thoughtful response. Conventional thinking is people who respond quickly are more likely to be sincere and telling the truth, when in fact that is just not the case in politics.

What you are doing right here is what political strategists do. They look at issues and available information and look for openings to inject issues at the right time, and they build candidate responses to issues for quick response.

Ronald Reagan was much praised for the 'rapid response' attribution, when in fact that credit should have gone to the political strategists employed by his campaign.

[CorpGovActivist]

21. Wouldn't Be the First Time

You wrote: "What you are doing right here is what political strategists do."

; )

- Dave

[cascadiance]

9. Maybe we can update some of Ronald Reagan's lines and say something like...

The nine most terrifying words in the English language are, "I'm from the bank and I'm here to help.'

[CorpGovActivist]

11. Good One...

... or say, "Remember when banks used to give out calendars that didn't have a big red circle on your foreclosure date?"

; )

- Dave

[RB TexLa]

12. Today the LIBOR for 1 year is at 4.62% How does that make people hate someone?

Most ARMs are the LIBOR plus two and a quarter. I don't think 6.87% causes that much hate.

[CorpGovActivist]

3. He Could Spoof the DiTech Commercials: HRC Lookalike Whining: "Lost Another Vote to Edwards!"

; )

- Dave

[Blackhatjack]

5. You demonstrate that political statements can indeed be more effective than sharp knives... LOL

[CorpGovActivist]

7. Made You Laugh!

:rofl:

; )

- Dave

[asdjrocky]

19. I will be seeing John Edwards

at a town hall meeting in Reno NV (Sacramento Edwards supports are taking the trip to work in the NV campaign) and if I get the chance, I will give him your statement. TY!

[Blackhatjack]

20. Good Luck! Give Us A Report When You Get Back...