You're watching...
FBN’s Liz MacDonald on the politicians who have worked at private equity firms over the years.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Taking a beating this week of course -- -- painted as ruthless job killers be you be surprised to hear who has been involved in the industry over the years was McDonald joins us now.
With more yeah that's right gang now while GOP presidential contender Mitt Romney gives demonized for his work a private equity firm Bain Capital.
Prominent Democrats such as Bill Clinton Al Gore Tom Daschle Wesley Clark and John Edwards.
Have also worked a private equity firms or even launch a private equity firm is Al Gore did.
As some of the -- names of the most recognizable on Wall Street like fortress investment or the Apollo investment group.
Even and Jimmy Carter's top economic advisor David Rubenstein.
-- -- of the world's third most powerful private equity shop the DC based Carlyle group.
Now there's been a -- of criticism of their involvement in creating jobs at private equity firms or job losses.
Moreover the biggest beneficiary political donations from private equity firm so far.
Was president Barack Obama says -- -- this is a nonpartisan research group that tracks campaign contributions.
And Democrats got more political donations the Republicans from private equity the group says.
Private every person they're executives gave more than ten million dollars to Democrats retain -- those 70 June 2011.
Or Republican counterparts got six point six million dollars the group bets that the Democrats total.
Barack Obama got more than one point nine million bucks.
So a lot of money there and the other point to be made to is that essentially Evan by the gotten Wesley Clark these are big private equity shops and Alley or different found a private.
Pretty shop over -- -- I think it's it has to that you reminded us that it was private equity hats and all these alternative investment funds that worked a huge donate -- to.
Obama's 2008 campaign.
Yeah that's an important thing that you don't really see lost in the debate right now that Mitt Romney you know suppose -- -- to really the thing is that this a debate.
You'll never know if the net net created jobs or loss of job losses I don't know about the Dixie state I -- well I -- there's a way to sit down and quantify the investments that's been a lot of discussion right now but I don't report job losses that's the case.
Yeah yeah I guess I mean it but if you look at the individual companies but he invested in you -- look at their growth over time I mean there.
There is some way to get closer to the numbers to see sort of what he's gotten -- I think it's -- to see like you said when you pointed out.
Where those donations came from I'd like to see which private equity groups that incredibly whereas Carlisle I mean this is made on its political yeah that's actually what that final and to think -- too is that the bigger debate about Mitt Romney is -- it's releases tax returns and how we get -- paid -- that -- -- -- the private equity dramatically -- -- at the lower 15% tax rate on capital -- that's another debate that's probably coming right.
Yeah they haven't been -- and -- Analyst thanks thanks so much --
