Obama Supporter Bashes Obama, Defends Bain Capital

[Toro]

Newark Mayor Cory Booker slammed the Obama campaign's ad criticizing Mitt Romney's record as the head of Bain Capital, and called for an end to"nauseating" attacks from both sides.

"I have to just say from a very personal level, I'm not about to sit here and indict private equity," Booker, a Democrat, said in an appearance on NBC's "Meet The Press" on Sunday. "To me, it's just 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 invest in companies like Bain Capital. If you look at the totality of Bain Capital's record, they've done a lot to support businesses, to grow businesses."

The ad--released last week by the Obama re-election campaign--makes Booker, who endorsed Obama for president in 2008, "very uncomfortable," he said.

"This kind of stuff is nauseating to me on both sides," Booker continued. "It's nauseating to the American public. Enough is enough. Stop attacking private equity. Stop attacking Jeremiah Wright. This stuff has got to stop, because what it does is it undermines, to me, what this country should be focused on. It's a distraction from the real issues."

Cory Booker slams Obama campaign ad attacking Romney

Also,

The basic Obama-liberal critique goes like this: Bain buys a company, loads it with debt and then sucks out cash before foisting the wounded business upon an unsuspecting buyer or a bankruptcy court. In the risk-taking world of private equity such a scenario can certainly happen, and it's true that Bain likes management fees and dividends as much as the next partnership.

But then how to explain the history of Bain Capital? Mr. Romney started the business in 1984. The company has since bought and sold many businesses and executed thousands of financing transactions.

If Bain's standard operating procedure were to hand the next owner of one of its companies a ticking bankruptcy package, how is Bain still finding buyers nearly three decades later? And who would agree to lend money to a company backed by Bain? Wouldn't word have gotten around by, say, 1987 that Bain's portfolio companies weren't creditworthy?

The liberal critique of private equity assumes that the financial industry is full of saps who have been eager to lose money across the table from Bain for 28 years. This is the same financial industry that the same liberal critics say is full of greedy schemers when it comes to padding their own pay or ripping off consumers. But financiers can't be both knaves and diabolical geniuses at the same time.

Review & Outlook: Bain Capitalism 101 - WSJ.com

 

[Trajan]

there are sane people left in the world. nice to see.

 

[Political Junky]

Democrats don't fall in line like the Cons do.

 

[theDoctorisIn]

I've always really liked Cory Booker.

His campaign in 2006 was the first campaign I worked on professionally.

 

[Trajan]

Democrats don't fall in line like the Cons do.

and....here comes the insane ones, right on cue. that didn't last long

 

[Lakhota]

I would focus more on Romney's performance as Governor.

 

[Listening]

I would focus more on Romney's performance as Governor.

But, of course, you bastards will focus on anything but Obama's record as POS POTUS.

 

[Salt Jones]

Booker will be clarifying on Morning Joe, first thing in the morning. He's already heard from New Jersey's black community, that his chances of running for governor are crap without black support.

Watch and learn.

 

[SniperFire]

Booker will be clarifying on Morning Joe, first thing in the morning. He's already heard from New Jersey's black community, that his chances of running for governor are crap without black support.

Watch and learn.

Did Booker stray off the plantation?

 

[theDoctorisIn]

Booker will be clarifying on Morning Joe, first thing in the morning. He's already heard from New Jersey's black community, that his chances of running for governor are crap without black support.

Watch and learn.

Why would assume that disagreeing with Obama would lose Cory Booker any support amongst the black community in New Jersey?

 

[uscitizen]

Many dems are now corporatists as well as the republicans are.

 

[Salt Jones]

Booker will be clarifying on Morning Joe, first thing in the morning. He's already heard from New Jersey's black community, that his chances of running for governor are crap without black support.

Watch and learn.

Did Booker stray off the plantation?

Did Newt and Santorum when they started attacking Romney about his time at Bain Capital?

 

[SniperFire]

Booker will be clarifying on Morning Joe, first thing in the morning. He's already heard from New Jersey's black community, that his chances of running for governor are crap without black support.

Watch and learn.

Did Booker stray off the plantation?

Did Newt and Santorum when they started attacking Romney about his time at Bain Capital?

Absolutely. But it had nothing to do with skin color.

 

[Salt Jones]

Booker will be clarifying on Morning Joe, first thing in the morning. He's already heard from New Jersey's black community, that his chances of running for governor are crap without black support.

Watch and learn.

Why would assume that disagreeing with Obama would lose Cory Booker any support amongst the black community in New Jersey?

I didn't assume anything, I'm telling you what happened and you will see it tomorrow.

 

[Salt Jones]

Did Booker stray off the plantation?

Did Newt and Santorum when they started attacking Romney about his time at Bain Capital?

Absolutely. But it had nothing to do with skin color.

Politics is skin color and anything else that can be used to wield power.

 

[SniperFire]

Did Newt and Santorum when they started attacking Romney about his time at Bain Capital?

Absolutely. But it had nothing to do with skin color.

Politics is skin color and anything else that can be used to wield power.

So to answer my question, Booker strayed off the Plantation.

 

[Clementine]

Democrats don't fall in line like the Cons do.

Wrong.

Even now Romney is not going along with bringing up Rev. Wright.

 

[Salt Jones]

Absolutely. But it had nothing to do with skin color.

Politics is skin color and anything else that can be used to wield power.

So to answer my question, Booker strayed off the Plantation.

The "plantation" of being a surrogate for the Obama campaign and publicly disagreeing with the ad. Is that the "plantation" you were referring or was it another?

 

[Salt Jones]

Booker will be clarifying on Morning Joe, first thing in the morning. He's already heard from New Jersey's black community, that his chances of running for governor are crap without black support.

Watch and learn.

I didn't watch Morning Joe, but I did see this:

Mayor Booker Expands on His Support for President Obama - YouTube

"Booker, who on Sunday's "Meet the Press" said he found Obama's attacks on Mitt Romney's record at Bain Capital to be "nauseating," stated in the YouTube video that the president's reelection team should be questioning Romney's background in the private sector.
"Mitt Romney has made his business record a centerpiece of his campaign," Booker said in the video. "He's talked about himself as a job creator. And therefore, it is reasonable, and in fact I encourage it, for the Obama campaign to examine that record and to discuss it."
Booker continued: "In fact, I believe that Mitt Romney, in many ways, is not being completely honest with his role and his record."

Cory Booker Clarifies Criticism Of Obama's Campaign Tactics (VIDEO)

 

[Katzndogz]

Bain kept that steel company alive 8 years after it would have died a normal death. The crowning credit to Bain was that it survived Bethelem Steel which was a much larger company but didn't have Bain's guidance.