By Hunter Walker, politicker.com
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.
â€œNo 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,â€ said Mr. LaBolt. â€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.â€
On Tuesday, Vice President Joe Biden defended the attacks on Mr. Romneyâ€™s tenure at Bain Capital. Though he insisted he wasnâ€™t â€œcriticizing private equity firms,â€ Mr. Biden said there were many examples of Mr. Romney and his Bain colleagues causing tremendous harm.
â€œYou hear all these stories about his partners buying companies â€¦ 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,â€ said Mr. Biden. â€œThey make money even when a company goes bankrupt, when workers lose their jobs.â€
Earlier in the week, President Obama described Bain and other private equity firms as a â€œhealthy part of the free marketâ€ filled with many â€folks who do good work.â€ However, he also said the priority of private equity companies is to â€œmaximize profits,â€ which is â€œnot always going to be good for businesses or communities or workers.â€ Because of this, he said Mr. Romneyâ€™s work at Bain Capital isnâ€™t good preparation for the presidency.
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