We're finally at the last chapter of Newt Gingrich's 2012 run for president. Chapter 7, that is…
Republican presidential hopeful Newt Gingrich’s health-care think tank has filed for Chapter 7 bankruptcy. The Center for Health Transformation, which has offices in Washington, D.C., Atlanta, and St. Louis, plans to liquidate its assets, according to a filing Wednesday in U.S. Bankruptcy Court in Atlanta.
There are several ways to interpret this news. Let's start with the ivory tower…
"This ends his campaign. He'll now be completely on the defensive about this," said Emory University political science professor Merle Black.
"Much like his presidential campaign, even the receipt of millions of dollars could not keep Newt Gingrich’s health-care think tank afloat," said Charles S. Bullock III, political science professor at The University of Georgia. "While health-care costs have bankrupted many without insurance, Gingrich may be the first to go broke studying health-care delivery."
No doubt these two met at the local pub afterwards and played darts with a picture of Gingrich's face. Probably this one.
Gingrich supporters, however, are spinning it another way…
Stefan Passantino, national counsel for the Gingrich campaign, said the bankruptcy didn’t happen on Gingrich’s watch. As part of his preparations to run for president, Gingrich divested himself of any involvement in the think tank’s operations last May, Passantino said. "I don’t think this hurts his ability to run for president," Passantino said. "If anything, it shows the importance of his leadership while he was there."
No doubt this guy ended the interview by sticking his fingers in his ears and screaming, "I can't hear you! Go away! President Newt Gingrich! Lalalalalalalalalala!"
It remains to be seen if losing Sheldon Adelson's dirty bags of grandma coins and laying off 1/3 of his campaign workers is enough to make Newt Gingrich quit this Brokeback Mountain of a campaign.
One thing is for sure, though: The next time his bus breaks down in West Hollywood, he may have to resort to signing pictures of his topless vacation for tow truck money.
Photo byChip Somodevilla/Staff/Getty Images News/Getty Images
Tags: Health Care, Hollywood, LGBT, Mitt Romney, Newt Gingrich, Primaries, Republicans, Sheldon Adelson