Cain's Absence Could Hurt Romney
NEW YORK (TheStreet) -- Herman Cain's plans to "reassess" his run for the 2012 Republican presidential nominationlikely signal the death knell for his campaign but the news may also be to the detriment of frontrunner Mitt Romney.
The former Massachusetts governor has thrived off division among the eight other GOP opponents, who have split up the conservative base, or "anti-Romney" vote.
|Herman Cain appears resistant to sexual harassment allegations|
"People [conservatives] will start realizing that a divided non-Romney camp means a Romney victory," Tim Callanan, Berkeley County, S.C. Republican Party chairman, said. "I would imagine you'll start seeing folks start to jell around one or two candidates."
With the possibility of Cain dropping out before the end of the week, his support will have to shift elsewhere. And Cain supporters won't necessarily look in Romney's direction.Social conservatives and conservative Christians in GOP circles are not likely to support Romney as he has been accused of flip-flopping on abortion and same-sex marriage. It also goes without saying that Romney doesn't have many Tea Party supporters as the former Bain Capital CEO -- more than familiar with Wall Street -- expressed his support of TARP at the time of the 2008 financial bailout. "Romney, in my view, has always had a believability problem among conservatives," Jim Denton, Nevada Republican political consultant, said. "I think that his past positions are a real problem among conservatives, and I think that the beneficiary of [Cain's] conservative message is going to be someone who has a track record as a conservative." So where can true conservatives turn? For starters, they likely want to support a candidate who has a fighting chance. Michele Bachmann and Rick Santorum can claim palpable conservative records, but they're short on money and national recognition. Ron Paul is another one to consider, but Paul won't receive massive traditional conservative support until he is willing to reconsider -- in their minds -- some of his hardline views. Forget Jon Huntsman. The former Utah governor looks like a Democrat to much of the GOP base. That leaves Newt Gingrich and Rick Perry as potential beneficiaries.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV