"When some people question why I would challenge his Bain record, the point I've made there in the past is, if you're a head of a large private equity firm or hedge fund, your job is to make money. It's not to create jobs. It's not even to create a successful business - it's to make sure that you're maximizing returns for your investor. Now that's appropriate. That's part of the American way. That's part of the system. But that doesn't necessarily make you qualified to think about the economy as a whole, because as president, my job is to think about the workers. My job is to think about communities, where jobs have been outsourced. [Emphasis added]Yes, the President of the United States of America believes that:
- A by-product of successful businesses is not jobs, but profit.
- He doesn't need to think about creating a positive business climate, he needs to creates jobs.
It's not to create jobs. It's not even to create a successful business - it's to make sure that you're maximizing returns for your investor.
So your goal as a private equity firm is not to create a successful business? While I agree, in principle, that a PE firm's main goal is to make a profit, I think BHO believes they make money by buying companies, closing them and selling their assets. Certainly, Bain did not do this. They bought companies and turned them around [or in some cases, funded start-ups] and eventually sold them for huge profits.
BHO clearly does not understand that successful companies hire employees (or in his Marxist terminolgy "workers"). BHO has never run a business. Aside from Valerie Jarrett, who parlayed her position as Commissioner of the Department of Planning and Development under the Daley administration into the CEO of The Habitat Company [to the tune of $800,000 per year) none of his close advisers have had a job in the private sector, much less had to turn a profit.
... my job is to think about the workers.
Really? I thought his job, at least as outlined in the constitution was to be the Commander in Chief of the Armed Forces and to "preserve, protect and defend the Constitution of the United States." He doesn't seem to understand how his policies have business leaders frozen in their tracks. It is his policies that are setting the foundation of this economy. History will show that under BHO, the government intrusion into the affairs of business through the regulatory agencies (EPA, OSHA, DOT, EEOC, HHS, etc...), the implementation of the largest tax increase in the history of the world with the Obamatax, and his continued bashing of the free enterprise system is undermining the U.S. economy.