That explosion you may have heard yesterday was Newark Mayor Cory Booker blowing up the Democrat’s Bain is Evil strategy. Booker, new best friends with New Jersey Governor Chris Christie, appeared on Meet the Press and had this to say (via the New York Times):
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 are investing 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. And this to me, I’m very uncomfortable with.
Oops. Doesn’t Mayor Booker know that he’s a liberal Democrat? And that Mitt Romney is Darth Vader, the man who eats puppies for breakfast (oh, that’s Barack, isn’t it?).
The reality is that some companies went bankrupt; others were founded and funded. The net result is many more jobs were created than lost. And the hard fact is that those companies that went bust did so because they could not compete in the marketplace. One must sympathize with those who lost their jobs. But don’t blame Mitt Romney or Bain. It would have happened sooner or later.
And, if you pay federal income taxes, at least know that when those companies brokered by Bain went under, it wasn’t us taxpayers who had to take the hit. Unlike Government Motors and the still-crappy Chrysler (new motto: “Now our bad cars are on your dime, America!”), who left taxpayers holding a $20 or so billion loss.
Thanks, Cory. Expect to hear his soundbite a lot, if the Dems continue to beat the drum against venture capitalists (except those who donate to Obama, of course).