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We're back now with Tom -- and -- console and -- let me let me turn -- you.
-- here you are.
-- and here you're getting some really lousy publicity right now -- to Newt Gingrich and Rick Perry.
And you know these are gonna fish that -- both beneficiaries.
Private equity aren't -- Well certainly the industry has been very supportive.
Really of both sides of the aisle here.
If you look at the money that President Obama -- ridge a tremendous amount of money from Wall Street.
So there is some irony there there are ever so that everybody talking about that -- -- Probably so.
There's -- people who may be I think twice about it but -- I would say that you know everybody.
Here is is and they've had their own participation with this group and everybody I think is aware that there is.
You know capital.
There are issues this is no different than any other industry that that wants -- voice -- So it is a little bit ironic I guess I'm looking at it from where I sit to see both are repairing and Newt Gingrich.
Bringing this issue to the four.
It can because what it does is sorely highlights their lack of private sector experience more than necessarily it it -- does damage to Romney I think certainly in the long permanently.
And as we look across the electorate you've been very critical private equity industry.
Josh and you know and I think by the way many of your criticisms either.
-- -- thank you taking.
You know and salute.
Point of view here that nothing is perfect and I think those criticisms help.
The policy makers are helping industry and they news so you know I I think that's terrific.
At the same time.
When this thing is trying to be translated by the Democrats.
The Obama administration.
Is this fodder for an anti business perspective it's one thing to be critical constructively of industry.
-- whatever it may be financial or otherwise it is another to consign it to hell.
As some folks are trying to do and those are just the Republican.
But what is what is the intelligent.
Response on the part of Romney.
To his constituency which may soon be the entire country.
I think when -- is trying to do and his defenders are trying to do is trying to mix venture capital private equity business.
Most of what Mitt Romney did more than 90% of that was leveraged buyout not venture capital he counts Staples and sports authority.
And companies he did not control it was just a passive venture investor and says I created a 100000 generation we should all have such passive -- No question and I don't have any issue -- those kind of passive investments my issue is that he says.
I created a 100000 jobs and combined with companies he controlled.
You can control Staples he didn't control sports authority it's apples and oranges.
Aren't -- you get the last word here.
Well I think the fundamental issue that has been raises an important one the political issue is this question about.
Private equity and the the reality is that it is an accelerant things go faster when people take private equity and one of the things that happens is a reallocation.
Of labor and the workforce.
And the government does have a role there I think that's a fair question that we should all be talking about and it shouldn't be a process of demonizing a particular industry.
United not demonizing a particular industry and didn't quite -- -- it's going to be fascinating see.
Now governor Romney response here because it turns out he's gonna be the standard -- not only for private equity.
But for financial institutions the financial marketplace itself I -- free enterprise.
And -- it's going to be interesting to see how this plays out first and South Carolina -- Florida.
And then perhaps across the country.
-- -- -- thank you very much for being here we appreciate it's much come -- -- Josh thank you didn't come back we'll come back we're -- we'll continue the conversation.