Are Democrats telling the real story about Bain?
Biden hammers Romney's record
- Duration 4:52
- Date Sep 11, 2012
Biden hammers Romney's record
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Vice President Biden hammering governor Romney's record at Bain Capital suggesting to Americans that he would run the country like corporation.
VP saying that even though Romney grew up in Detroit and his father ran American motors he was quote willing to let Detroit go bankrupt.
I think he saw at the -- way.
-- this -- -- I think he saw it in terms of balance sheets and write offs.
The Bain way.
May bring your firm the highest profits.
But it's not the way to lead our country from the highest office.
But are the Democrats telling the real story about -- to Roy Murdoch syndicate columnist and Fox News contributor joins us now.
With more thank you for joining cats.
Hi Heather -- -- you.
I'm doing good said -- -- you wrote an article he caught it Obama -- -- -- banks with Bane what do we not know about things.
What's very interesting is a lot of the people who are in Charlotte screaming loudly for pres Obama's reelection.
Actually benefit from Bain capital's financial pro west AF financier Manhattan's a very good friend of mine in British -- sort of like took a look at this.
And what we found is that -- the biggest investors in Bain Capital.
Happened -- for example a government worker a retirement funds and pension funds including those of for broad public retirees.
It's a public employees and Iowa.
And -- -- and retired teachers in Ohio they've -- something like one point five billion with a B.
In Bain Capital.
Then you've got to Major League universities which have their endowments investor with -- including such schools as Columbia University where Barack Obama went under grad.
A Princeton where Michelle Obama what for and got her up her bachelor's degree at Harvard where they both went to law school.
-- you've got these very large a government employee union type pension funds major universities.
And then Centre left foundation such as the Ford Foundation and even the Oprah Winfrey foundation.
Which of invest in being so.
Are you a lot of these groups which are sort of on the left side of the political spectrum -- complaining about being.
In it that's where many of them have invested their money and their profiting from this corporations that which they denounces.
These sort of founders of outsourcing.
And a very young cold hearted company yet that's where many of them have their money in there and in -- of people -- pensioners who were joined their pensions.
Because of the excellent financial returns that Bain capital's -- produced.
And that begs the question then why on earth would a government union leaders university president's foundation -- Let a company like Bain.
Oversee their assets.
I think what their interest -- this is not the sort of social justice that your heard about in Charlotte with their interest -- in his is very respectable.
And positive returns on investment and a private equity funds like -- apple actually deliver on those assets.
What these big funds are -- -- the -- retired if -- were a teacher a firefighter -- cop the first responder what have you social worker.
This money goes that it is taken -- your check put into pension funds the pension funds that invest this money.
And the intention is to invest that have this money -- offer high returns -- -- gonna have comfortable retirements and -- is private equity company that is invested its money.
And for example the California State -- -- state teachers' retirement system has.
-- -- -- about up it's what is the exact number 21 point 25000000001.
Point 15 billion.
Invested in -- And the response from one of their spokesman was where interest in high returns we're not interest in political speeches we want high returns for our members but eight -- 50000.
Retired teachers in California.
And -- -- seeing very high returns on investments of people will have comfortable retirements including my mom who by the way is retired teacher.
So that it they're not incident in speeches and agreeing that the technology and done all this sort of thing they -- -- see.
These investments do well so that the retirees will have comfortable retirement so that put the money in the into a organizations like Bain Capital and -- -- -- Yes.
I'm sorry -- and you also found out that about 80%.
Of these institutions prospect.
That it's right to Bain Capital of the companies which they invest -- such as staples.
Guitar Center sports authority.
A bright horizons which is a daycare center but 80% of the companies which they invest and actually have profited -- that positive revenue 20% in the did not do well but when you invest in companies and -- Prosper but about 80% of them prospered.
They've hired people they've added jobs about a private sector jobs people working for these companies and so Bain Capital has so I had a very positive impact in the lives many people and people are -- very comfortable and and a profitable careers were happy companies which Bain capital's investment -- -- -- the Democrats should talk about this in the all right thank you very much -- right we appreciate -- and -- to run and I got thank you.