|This is not about his effectiveness - I think pretty much everyone agrees that he was very effective. The issue right now is whether he accepts responsibility for the non-financial consequences of what Bain did or not. The political problem for him is that he needs the working-class white voter or he is toast, and some of the consequences of his activities (like outsourcing and high-leverage acquisitions leading to bankruptcies) are not going to sit well with those voters. (Not to mention Stericycle, which is not going to endear him to anti-abortion voters). |
I think he has made a strategic mistake here - he needed to run on his successful business background, not run from it. I'm not saying that would have been easy - creative destruction is not an easy sell to working class voters - but right now he is getting the worst of both worlds and looking evasive to boot. The plain truth is that even if he was not actively managing Bain after he left for the Olympics he still built it and owned it and could have provided overall guidance if he had wanted to.
I have little doubt that he will eventually be forced into releasing more tax returns too. Likely there is some awkward stuff in there too or he would have released them already.