The Bain attack is back-firing and continues to expose Obama’s hypocrisy. Obama received more private equity donations than any candidate in history and he received campaign donations from Bain executives and employees.
This is another cigar that has blown up in Obama’s face. Run on your record Mr. President. I dare you!
From ABC News:
Are “job destroyers” sitting on President Obama’s jobs council?
Two Obama-appointed members of the White House Council on Jobs and Competitiveness, an advisory committee, are leading figures in the private equity industry.
Richard Parsons, chairman of Citigroup, is a senior advisor at Providence Equity Partners, “a leading private equity investment firm, specializing in media, communications and information companies,” according to his bio on the White House website.
He joined the firm in 2009 shortly after it completed what news reports describe as the “biggest leveraged buyout in history,” the $51 billion acquisition of Bell Canada.
Mark Gallogly, the co-founder of Centerbridge Partners and formerly with Blackstone Group, the nation’s largest private equity firm, also sits on the panel. He served on Obama’s Economic Recovery Advisory Board, his official bio states.
Gallogly is also a major Obama campaign contributor and fundraiser, collecting more than $500,000 for the 2012 race.
More Obama bundlers rewarded by Obama.
Obama’s inclusion of these men on his Jobs Council highlights a potential sticking point in his case against GOP rival Mitt Romney, a former private equity executive who says his 15-year experience in the industry qualifies him as a “job creator,” a claim that is a cornerstone of his campaign.
While neither Gallogly nor Parsons is running for office, Democrats and the Obama campaign have sought in some ways to demonize the industry itself, part of an aggressive effort to discredit Romney’s top selling point.