President Obama Won’t Be Returning His Donations From Bain Capital

May 25, 2012

By Hunter Walker,

Though the Obama campaign has repeatedly attacked Mitt Romney for his career at Bain Capital, President Obama still accepted $7,500 in campaign contributions from three Bain executives. His campaign press secretary, Ben LaBolt told The Politicker the president has no intention of giving the money back.

“No one aside from Mitt Romney is running for President highlighting their tenure as a corporate buyout specialist as one of job creation, when in fact, his goal was profit maximization,” said Mr. LaBolt. ”The President has support from business leaders across industries who have seen him pull the economy back from the brink of another depression, manufacturing and the auto industry revived, and support his agenda to build an economy that lasts where America outinnovates and outeducates the rest of the world and economic security for the middle class is restored.”

On Tuesday, Vice President Joe Biden defended the attacks on Mr. Romney’s tenure at Bain Capital. Though he insisted he wasn’t “criticizing private equity firms,” Mr. Biden said there were many examples of Mr. Romney and his Bain colleagues causing tremendous harm.

“You hear all these stories about his partners buying companies … where they load up with a tremendous amount of debt. The companies go under, everybody loses their job, the community is devastated, but they make money,” said Mr. Biden. “They make money even when a company goes bankrupt, when workers lose their jobs.”

Earlier in the week, President Obama described Bain and other private equity firms as a “healthy part of the free market” filled with many ”folks who do good work.” However, he also said the priority of private equity companies is to “maximize profits,” which is “not always going to be good for businesses or communities or workers.” Because of this, he said Mr. Romney’s work at Bain Capital isn’t good preparation for the presidency.

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1 Comment - what are your thoughts?

  • Susette Biermann says:

    Obama always proves me correct in the way I feel about him as a person / president. He is so two faced, everything is his way or no way, doesn’t care one bit about what the people of this country want or need, his agenda is nothing but bad for the American people, he spends the taxpayers money like water for himself / family / friends. He never was nor will he ever be a leader or capable of managing the Presidency or for that matter any job he holds…..oh, that’s right he never held a job!!!

    Someone who can talk bad about the good another person did for Bain Capital and take donations from that company and not honestly return them out of good taste is a loser in my book. He is so two-faced and if I was ever given the chance to tell him face to face I would not hesitate to tell him that he is two-faced, a bad leader, he doesn’t care about the middle class because his agenda for the people of this country is for everyone to be on welfare and live off the government, I would also tell him that he doesn’t have the capability to make decisions for my family or me…he has no idea what my family needs nor me and lastly that he should leave the presidency because he has no business being there with his record.

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