How campaigns will respond if/when their candidate loses

>>> welcome back to " morning joe ." 6:30 on the dot here on the east coast . let's go down to "politico" now, the chief white house correspondent there is mike allen . he's got a look at the playbook. mike, happy election eve.

>> thank you. and happy election week.

>> let's do a little wednesday morning quarterbacking, if we could. you guys are offering a take on how democrats and republicans may spin a loss depending on who loses. walk us through some of those.

>> yeah. you can already hear what the two sides are going to say if their guy goes down. starting with romney, republicans are going to say, he was wrong for the times. we never really loved him anyway. he struggled to get through the primaries. this is a time when people are down on wall street . the nominee was closer to wall street than ever. huge mistake from the primaries. getting to the right of rick perry on immigration. well, it turned out that latinos were a lot more important to mitt romney than rick perry was. and in the long run, had a lot more to do with the outcome of this race. also, people will say that he should have taken on the auto bailout sooner. we've learned that senator rob portman of ohio had urged him to do that for a long time. and the campaign's view was, we've lost those voters anyway. but it turns out the voters who cared about the auto bailout were working-class voters that romney needed and should have gotten. on the obama side, if the president loses, if the pollsters are surprised if a lot of people have egg on their faces, people will say americans fell out of love. that because of the conditions in the country, that connection he had with americans from 2008 was just lost. and people will say he just wasn't that into it. we saw in the first debate that he didn't have the passion that he did before. i don't think anybody will fault the technical part of his campaign. they've run this amazing campaign. they've stuck to what they said a year ago. they said how they were going to go at mitt romney , assuming it was going to be mitt romney . and they've gone with it. amazingly, the obama team, if they win, will have won the white house under two totally different approaches and theories, on the most optimistic and broad case and on one of the most clinical and narrow cases.

>> as you point out in the piece, too, they'll certainly point to super pac money , third-party money. i think mitt romney , if he loses, will have liked to have had that 2008 op-ed in "the new york times" back about the bailout.

>> definitely. he might blame sandy and the media, too.

>> we'll be talking to you a lot today and tomorrow.