The Attack Ad on Laffey: Just Plain Lame, Stupid & Condescending
This ProJo article and Marc’s and Andrew’s earlier postings (here, here, here) talk about the attack ad on U.S. Senate candidate Steve Laffey by the National Republican Senatorial Committee and Laffey’s response.
Here is an excerpt about the ad from the ProJo article:
Yesterday the exchange escalated with the GOP committee’s broadcast of the 30-second attack on Laffey. As an announcer asks, “Have you seen this guy Steve Laffey?” the ad shows an image from Laffey’s own kickoff ad of last month. The voice says that the “same Steve Laffey” who criticized oil companies once “ran a company selling oil industry stocks on Wall Street. Profiting from offshore oil drilling. The oil companies made a fortune. Steve Laffey made a fortune.”
As the spot returns to the clip of Laffey pledging to “stand up to special interests,” a graphic technique drips “oil” over the screen, including Laffey’s image. The announcer concludes, “Slick. Steve Laffey. Laughing all the way to the bank.”
Well the NRSC must think that we Rhode Islanders are all a bunch of stupid yahoos to run such a lame and condescending ad.
Steve Laffey previously was President of Morgan Keegan. As a securities firm, Morgan Keegan offered investment banking services for many segments of the American economy – including the energy industry. Which is why the following was said:
Laffey’s spokeswoman, Robin Muksian-Schutt, said it’s true that his company worked on stocks from the oil industry — and many other industries as well.
But she said Laffey’s company worked on transactions from many industries — not just oil. “That was his job,” she said.
To drill down on the sheer stupidity of the ad’s argument, consider these questions: Is the NRSC saying it doesn’t accept the important market-making role of investment banking firms in the American economy? Do they want to return us to the days when investment deals had limited distribution and were typically only offered to wealthy people with the right personal connections? Why is the NRSC ridiculing the important role banks play in allocating investment capital that creates jobs in all segments of the American economy and for Americans at all economic levels?
And in response to all this, Senator Chafee said:
Chafee said in an interview yesterday that, although he had nothing to do with it, the ad aired by Dole’s committee is a “legitimate” jab at Laffey’s “hypocrisy.”
So we have a lame, stupid and condescending attack ad that holds no substantive meaning to anyone with a rudimentary understanding of the banking industry and/or an appreciation for the role investment banking firms play in allocating capital across a free-enterprise capitalist economy. And we have a Senator who wants to convince us that lame, stupid commentaries should be taken seriously by his constituents. How condescending.
Another example of how Senator Chafee is so impressive.
And we don’t need a bunch of outsiders talking down to the people of Rhode Island.