Replies

Obama has cracks in the crack pipe...

Note to Mr. Booker.

You’re not hateful enough to be on Obama’s team.

You have to hate white people, especially white capitalists in order to gain his favor.

You have to feel the hate. Then express it.

Amen.

Beware of Cory Booker.

If no one can say anything negative about anyone, we're in trouble.

ML/NJ

Capitalism ping

"I have to just say from a very personal level, I'm not about to sit here and indict private equity," Booker said, referring to an Obama campaign ad that spotlighted the story of a Kansas City steel company that went bankrupt after Bain's involvement.

-snip-

Private equity firms such as Bain Capital just don't pick winners and losers based on ideology and "invest" with other people's money. Capitalism is a lot like gardening. It prunes the dead branches of those plants and trees deemed to have a chance to succeed in the expectation of reviving the business and reaping a word anathema to this administration — profit. Sometimes you just have to pull the weeds and the dead plants.

"If you look at the totality of Bain Capital's record, they've done a lot to support businesses, to grow businesses," Booker said before the word came down from on high that he had strayed off the reservation. By Sunday night, Booker had released a YouTube video backtracking and saying such an examination of Romney's business record is "reasonable" and he "encourages" it. He also made it clear that Obama "more than deserves re-election."

I don't know if this has been posted before, but... the link below contains the 2010 annual report for Advantage Capital Partners. Cory Booker, Mayor of Newark, NJ, was an Advisory Board Member of Advantage Capital Partners in 2010 (I don't know if he's still there). My husband, FReeper "zelig" pointed this out to me earlier tonight.

Advantage Capital Partners Annual Report - 2010

Scroll down to page 5 of the Annual Report PDF - you'll see Cory Booker's name at the top of the list of "Advisory Board Members" at Advantage Capital Partners.

Advantage Capital Partners is a private equity-like group that focuses on "double bottom line returns", meaning an excellent return to investors while channeling capital to low and moderate income areas where job creation is one of the goals of this company. However the primary goal is to achieve an excellent $$$ return for their investors - PROFIT - just like Bain Capital's goal. Like any private investor group, they have winners and losers.