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What Romney Should Have Learned At Bain

What Romney Should Have Learned At Bain

The Democratic mayor of Newark, N.J, Cory Booker after disagree one of President Obama’s key campaign messages Sunday, reversed his criticism.

On NBC’s “Meet The Press,” Booker attacked Obama’s recent ad criticizing Mitt Romney’s record at Bain Capital and equated it to bashing the president over Rev. Jeremiah Wright.

“I’m not about to sit here and indict private equity,” Booker said. “If you look at the totality of Bain Capital’s record, it — they’ve done a lot to support businesses, to grow businesses. And this to me — I’m very uncomfortable.”

“This kind of stuff is nauseating to me on both sides,” he added. “Stop attacking private equity. Stop attacking Jeremiah Wright. This stuff has got to stop.”

Just hours before he had released a YouTube video partially walking back his comments.

“Mitt Romney has made his business record a centerpiece of his campaign,”

he protested.

“He has talked about himself as a job creator. Therefore, it is reasonable for the Obama campaign to examine that record and discuss it.”

But the real problem with Romney isn’t what he did at Bain. It’s what he didn’t seem to learn from it.

“I know how business works,”

Romney likes to say.

“I know why jobs come and why they go.”

That’s overstating the case. But while Romney’s perspective at Bain was biased toward creating short-term profits rather than creating value or employment, it was a look at the ferocity of modern, global, financialized capitalism, and Romney surely recognizes its realities in a way many of us don’t.

source: WP


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