Mitt Romney handily won the New Hampshire primary last night and became the first Republican to win both the Iowa Caucus and the New Hampshire primary in the same year.

The victory came despite a heavy barrage of attacks on Romney’s time as the CEO of  private equity firm Bain Capital where Romney accumulated most of his overall wealth.

While there is nothing wrong in attacking an opponent, it is the level and intensity of the attacks launched by Newt Gingrich that have raised the ire of conservatives.

Gingrich who promised to run a positive campaign in Iowa and was largely undone by Romney’s SuperPAC ads, put on his boxing gloves and hit Romney with Super PAC ads of his own as well as statements on the campaign trail that heavily criticized the former Massachusetts governor for the tactics Bain used in buying and restructuring companies while he was CEO.

The problem with the attacks is that they in essence criticized Romney for being a capitalist and served only to delight Democrats for having done the work for them.

Romney, who is the current front-runner for the Republican nomination spent the last week fending off the criticism, and it didn’t appear to hurt him too much if at all in New Hampshire, but if Gingrich keeps this up, it could seriously wound Romney’s campaign as he heads to South Carolina.

While Gingrich foundered in new Hampshire and is liming into South Carolina, he has managed to raise the ire of Rush Limbaugh and other conservatives who claim that the ads, as well as a forthcoming mini-movie are not helping the GOP, but doing the work of Obama and the DNC for them.   Others have compared Gingrich to members of the Occupy movement by labeling Romney as a “one-percenter” at a time when that has a largely negative connotation.

Even Rick Perry who is barely hanging on at this point has called Romney a “vulture capitalist” and not a “venture capitalist”.

As the Wall Street Journal pointed out, many of the companies Bain invested in during Romney’s tenure went bust, but several were very successful.  Bain had hoped that most if not all their investments would be successful and profitable, but they also knew that they were investing in distressed companies and that nothing is guaranteed.

It’s never easy when people lose their jobs and companies go out of business, but that is our system.  Bain wanted to make their investments work out for all involved, but sometimes businesses are just too far gone for that to occur.

If Romney wins the nomination and the right to face President Obama in November, you can bet that after watching Gingrich’s ability to ding Romney on his role at Bain, it will be a central part of the Democrats campaign against him.

All the Republicans have to do is look and see how giddy Chris Matthews and the gang are at MSNBC as well as Obama’s own advisers to know that they the anti-Bain campaign will come back to haunt them in November.

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