Schiff Supporters Ready "Money Bomb"

The New Haven Independent has a great, in-depth article about the netroots efforts to draft Ron Paul economic adviser Peter Schiff into running against Sen. Chris Dodd in 2010.

They’re planning a “moneybomb” for tomorrow, which is a one-day fundraising effort designed to make headlines like the ones used to propel Ron Paul into the national news. The idea is to raise enough money that Peter Schiff will be forced to run! He won’t be able to say no!

Except that it seems that Schiff has other plans. Here’s what he has to say:

“I’m not running for anything. They’re hoping if they can raise a lot of money and start an organization, they can convince me and draft me into a senate campaign. I think it is a longshot,” he said. “Is it impossible? Nothing is impossible. Is there is a slim chance? The odds are I’m not going to do it. It’s just not something I think is the best use of my time. Even if I could become a senator, I don’t know what the hell I could do! I would be one guy out of a hundred.” (Bass)

That doesn’t sound like a guy who is going to be impressed by whatever the netroots manage to do tomorrow.

Lamont Redux?

Paul Bass makes some comparisons between the netroots-driven Lamont campaign and the activity surrounding Schiff, and there are certainly a few parallels to draw. The Lamont campaign drew in activists from all over the country, and used the power of the national liberal blogosphere to drum up support and raise surprising sums of money.

However, the Lamont campaign, at its heart, was a Connecticut operation. Sure, a lot of people and money came in from outside, but Lamont successfully capitalized on long-running doubts among Connecticut Democrats about Joe Lieberman, on strong anti-war and anti-Bush feelings in the state at the time, and on the state’s strong liberal tradition. Lamont did as well as he did because there was already an audience here to receive and support his message.

I don’t see that aspect of a Schiff candidacy yet. The people who are trying to get Schiff to run are Californians. Where are the local people working to get this man to run? Where’s the libertarian wing of the Republican Party in Connecticut? Where are the Connecticut Ron Paul supporters who would propel him to victory over Chris Dodd?

Well, to put it bluntly, they barely exist. Ron Paul won about 4% of the vote in the 2008 Republican primary, so apparently Paul’s economic message did not resonate even with Connecticut Republicans. Also, it seems that Schiff’s support right now is mainly coming from out of state.

The Other Candidate

There may in fact be an enthusiastic audience for a candidate who could embody the frustrations voters feel with Washington on economic issues, but it seems more and more likely that that candidate will be the more mainstream Rob Simmons. Unlike Schiff, Simmons has actually expressed strong interest in running, and would instantly have the state GOP apparatus behind him. Schiff would not.

UPDATE: For more evidence that Simmons is strongly leaning towards running, see this clip from WFSB. Simmons will appear on Face the State this weekend.

Let’s see what the netroots will do for Peter Schiff tomorrow. They might raise a ton of money. But watch carefully, and see just how much of that money actually comes from Connecticut.

Bass, Paul. “Peter Schiff “Moneybomb” Set To Explode.” New Haven Independent 19 February, 2009.


10 responses to “Schiff Supporters Ready "Money Bomb"

  1. AndersonScooper

    Simmons is running, the question is whether the Rell wing of the Party will be putting up a primary challenger.

    Personally I thought McKinney was going to step into the ring. A run against a weakened Dodd would make a lot more sense than risking it all against Himes.

    Any Republican will do surprisingly well against Dodd. Dems might even lose the bloody seat.

    But a primary loss to Himes would be a career-ender. Just ask my friend David Cappiello, who crapped out against Murphy.

    PS– Schiff is a joke. Connecticut is not ready for a gold-bug who comes off as Dick Morris-crazy….

  2. PS– Schiff is a joke. Connecticut is not ready for a gold-bug who comes off as Dick Morris-crazy….

    Hence, the reason for Ned Lamont’s loss in 2006.

  3. Waterbury Republican American is reporting State Senator Sam Caliguiri has interest in run against Chris Dodd

  4. Lamont won 48% of the general vote, which is far more than Moonbat Ron Paul’s fiscal “brain” could ever dream of pulling.

    Don’t crucify this economy on a cross of gold.

  5. AndersonScooper

    Brisotl Dem–

    Lamont won 40% of the general vote. It was actually 50-40-10.

  6. AndersonScooper

    Pesci– The best thing that could happen would be the nationalization of the distressed banks.

    Many of these banks are basically bankrupt, being underwritten and propped up by the American taxpayer.

    I understand why we need to spend hundreds of billions to keep these financial institutions alive, but I don’t understand why shareholders, (many of them short-term speculators), are the ones who stand to gain.

    Why not us the taxpayers? If it’s our money that’s being used to revive, shouldn’t we get something for our investment.

    Perhaps Pesci confuses the banks’ stock prices with the banks’ health? And maybe he doesn’t understand what a temporary nationalization would mean?

    What would happen is that the current shareholders get wiped up, taxpayer money continues to underwrite losses, the bank continues to operate, and once the balance sheet is cleaned up, the bank gets re-sold and re-capitalized. (With taxpayers getting re-paid at least something.)

    So yes, please go ahead and nationalize the failing banks. The fallout is only imaginary.

  7. AS,

    The nationalization of banks — because it will affect credit and lending — will have an effect on all stocks, not just bank stocks, In fact, that is what happened after Dodd’s announcement. Some time ago, Republicans suggested that the US government should simply start a bank and loan money to troubled banks so that they could liquidate toxic mortgages caused by the gross interference of Chris Dodd and Barney Frank, among others, in the private market place. It is important to remember that the mortgage crash was caused in part by politicians who wanted banks and other lending institution like Fanny and Freddy to provide mortgages to people who could not afford a) the down payment on a house and b) the mortgage payments. In order to achieve this goal, banks were forced to lower their lending standards, and Ponzi schemes like Fanny and Freddy, so dear to Dodd and Frank, in concert with idiot Wall Street mavens developed a whole series of paper transactions that were, to put it nicely, fraudulent. This is NOT an example of the free market at work. Here is the problem now: Fanny and Freddy bought up mortgages, waved a magic want over them, packaged them as securities sausages – know one knows what the hell is in them – and, when the mortgage bubble burst, the banks were left sucking their thumbs and wondering – what exactly is the real value of this goddamned sausage. Know one knows. To sell something, to write something off, you first have to know what the real value of the product is. NO ONE KNOWS. So the toxic stuff sits there, smoking like a toxic dump, all mixed up in a securities sausage along with puppy dog’s tails and even some worth while mortgages. Would you but this smoking piece of s**t if you were a bank or a respectable financial institution, AS? If you would, there’s a bridge I’d like to sell you.

    Now THAT is the problem. And it ain’t gonna be settled by nationalizing banks. Know why? Because the nationalizers understand nothing about banking, or lending, or the stock market. And if you don’t believe me, well just look at loose lips sink your ship Dodd, here:

  8. You were right in another commentary sometime back when you wanted to see all these scouldrels woiggling on fish hooks in Hell — or maybe that was someone else. Anytime you want to join the revolution, let me know. I’m starting one.

  9. The quickest way the get money from the Beltway to Main Street — that would be me — is to cut payroll taxes. I guarentee you I won’t spend it on a lavish lifestyle.

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