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Obama Attack on Bain Capital & Romney is Deceptive
There is a current ad campaign painting Romney and his Bain Capital years as destructive to people's lives and unjust. The Obama campaign cherry picks some folks who lost their jobs under the restructuring that Bain Capital did while Romney was there.
The big picture of what private equity firms do is actually very positive. Private equity firms like Bain take failing companies that are headed for bankruptcy or completely shutting down and rescuing them to live and operate another day. There may be some jobs lost in the meantime, but overall the stats show (according to Erin Burnett of CNN) that there is only a 1% net job loss after private equity firms restructure and realign companies. That's not a bad stat when you consider that the percentages would be much higher if companies would fall into bankruptcy or 100% loss if they went out of business. The ad campaign is dishonest. It's the same dishonest angle Newt Gingrich was using in the primaries.
Meanwhile Obama as he is running ads criticizing Romney for his years at Bain, just had a fund raiser with a group of private equity folks and raised millions of dollars.
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When a newspaper posed the question, "What's Wrong with the World?" G. K. Chesterton reputedly wrote a brief letter in response: "Dear Sirs: I am. Sincerely Yours, G. K. Chesterton." That is the attitude of someone who has grasped the message of Jesus.
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