28 May 2012

Newt Gingrich's Defense of Bain Capital
Far Superior to Anything You Ever Hear Coming From Romney



"How can you be the president with the worst 
unemployment record since the Great Depression 
-and pick a fight over job creation

There's a point where this becomes ludicrous..."

"Bain as an issue doesn't work, because people look at it on balance... and they say 'wait a second -yeah- you can pick a couple companies that lost. You can pick a lot of companies that succeeded.' And as even as the governor of Massachusetts said last week, it is a good company."

"This is going to fall flat on its face ... Obama picking a fight on the economy is probably the worst possible strategy for his campaign."

"(Cory Booker) described what I think is a big reality for him as the Mayor of Newark: that that free enterprise system has been creating jobs, paying taxes, improving his city."

Re. Newt's own (primary) attacks on Mitt's record at Bain: "I think Governor Perry will tell you when he tried to use it, it didn't work... when I went head-to-head with Mitt over it didn't work...
I'm a little surprised Obama is trying it"



"In effect, what Obama is saying is that government investment is smarter than private equity -and if you look at their track record of losing billions on various solar companies -$2.1B on one company alone- you'd have to say Obama's a pretty bad venture capitalist. 

And remember, he's doing it with your money... for better or worse, Romney was taking a risk as a private person, with private money, in the private sector... Obama's been throwing our money as taxpayers away, and our children's and grandchildren's in the national debt"

"I think private equity on balance creates far more jobs that it kills... I think private equity creates a far better future... look at the rise of Google, of Apple."

"Private equity in general has been a force that has overwhelmingly been more effective at creating jobs than any socialist government in history. So if I had to choose between private equity and socialism, I'd choose private equity every time.

Countries that use private equity get richer, and countries that follow socialism get poorer.... Obama's frankly a pretty good case study in that: his examples of public equity -investing in Solyndra, investing in other failing companies -I mean he's thrown-away billions of dollars of taxpayers' money- because it turns-out that bureaucrats don't make very good venture capitalists." defends Mitt defense

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