It turns out that New Jersey and nearly half a dozen swing states get an awful lot of help from the private equity that Obama is demonizing.
And even a few liberals recognize the vital importance of private equity firms like Bain Capital:
Cory Booker rejects Obama attacks on private equity
The mayor of Newark, New Jersey feels as if the campaign’s attacks on Romney’s record at Bain Capital go too far.
What Obama is doing is “nauseating” says key Obama supporter Mayor Cory Booker.
“As far as that stuff, I have to just say from a very personal level, I’m not about to sit here and indict private equity. To me, it’s just this–we’re getting to a ridiculous point in America, especially that I know. I live in a state where pension funds, unions and other people are investing in companies like Bain Capital. If you look at the totality of Bain Capital’s record, it ain’t–they’ve done a lot to support businesses, to grow businesses, And this, to me, I’m very uncomfortable with. “
Steven Rattner is another Obama Democrat who argues that the Obama attack on Mitt Romney and on private equity itself is “unfair.” Obama’s car czar also said:
“[Bain] did it superbly well, acting within the rules, acting very responsibly, and was a leading firm. To pick out an example of somebody who lost their job, unfortunately, this is part of capitalism, this is part of life. I don’t think there’s anything Bain Capital did that they need to be embarrassed about.”
Bain Capital itself entered after Obama’s vicious attacks on private equity and Bain itself as well as against Mitt Romney. It pointed out the fact that:
Despite political attacks that emphasize the few companies that have struggled, the facts are that during Bain Capital’s ownership, revenues grew in 80 percent of the more than 350 companies in which we have invested.
Mitt Romney represents an .800 batting average. Four out of every five times he touched a company, that company improved. If we get him on our team we ought to be cheering in the streets in anticipation of a championship.
Romney DID create jobs at Bain Capital – especially if you evaluate him by the tactic that forms the premise of the Obama ad (blaming Romney for jobs that were lost AFTER Romney left) and count all the jobs CREATED after Romney left Bain.
Obama says that we shouldn’t have a guy in the White House who creates profit; what we really, really need instead is a guy who TAXES profit and then redistributes that profit to failed crony capitalist boondoggles like Solyndra that give a little bit of the billions of dollars Obama hands them back to Obama in the form of campaign contributions
Tags: Bain Capital, Cory Booker, I'm not about to sit here and indict private equity, If you look at the totality of Bain Capital's record, Mitt Romney, nauseating, people are investing in companies like Bain Capital, private equity, Steven Rattner, unfair, we're getting to a ridiculous point in America