Chicago Republicans

Jan 27, 2012

Larry Kudlow, a former official in the Reagan administration, a friend and former colleague of Newt Gingrich, was on Chicago’s conservative talk radio show, “Don Wade & Roma” WLS-890AM, explaining the reasons he is disappointed with Newt Gingrich. Not only did he criticize Gingrich’s attacks on Romney with regard to Bain Capital, he also found the language he used about Romney’s investments and wealth as “the language of the left.” (Begins around 5:00).

“I’ve been very critical of Newt’s comments trashing Bain capital. I think it’s antithetical to free market capitalism. I think he made a huge mistake… I go back a long ways with Newt, and I do think Newt has a good record as a supply-sider,

But my disappoinment over his Bain Capital stuff is huge and a gigantic mistake.

Apparently yesterday in Florida, according to the WSJ he took a snarky wack at Mitt Romney, he said Mitt lives in a world of Swiss Bank Accounts and Cayman Island Accounts and automatic  $20-million income with no work. I just think that is below the belt. I’m so disappointed to read that. That was printed by Jason Reilly in the WSJ Political Diary. This is the language of the left. And it’s really engaging in ignorance. And I think it’s just all wrong. It’s unbecoming to a guy like Gingrich.  Why he does this, I do not know…

I think all of this class warfare is the language of the left, It’s not the language of conservatism. And that’s why it’s been so disappointing now. I thought Newt was putting that stuff away. But I guess it’s reappearing again…

I’m not waging war against Newt, I am, however, disagreeing with some of these key points. And I think they are unbecoming and unnecessary, and very very disappointing."

Later that night, before the CNN-Wolf Blitzer debate in Florida, Kudlow interviewed Gingrich on his show, CNBC’s The Kudlow Report, and outlined his displeasure at the way Gingrich has been attacking capitalism and Romney’s investments.

“Ronald Reagan never singled out investments and funds and attacked them. That’s my disappointment with you—calling Bain Capital and other private equity funds, that they are looters, raiders, greedy corporations. You yourself worked for Ted Forstmann, “at the great private equity fund Forstmann Little.”

He then cited another private equity firm that hired Gingrich: “JLL Partners, a private equity firm, they gave you $40,000, you gave a speech, the guy said you were euphoric about private equity.”

Asked Kudlow: “Is it just political expediency and opportunism, where you are giving up your principles that I thought you and I shared?”

Kudlow and Gingrich acknowledged their history, going back 30 years together off and on, back to the Reagan revival of free market capitalism and supply side economics.

But Kudlow was compelled to tell his friend and former colleague, “You sound like President Obama or the left wing of the Democratic party. That’s what has disappointed many of your conserative supporters.”

You can find the entire interview, including Gingrich's responses, here.

You can also find the interview, and Kudlow’s commentary, here.