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Former Bain Capital Partner Ed Conard discusses how the presidential candidate helped strengthen businesses while in corporate America.
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This JPMorgan news could be more ammunition against Mitt Romney.
His opponents have already used his days at Bain Capital to paint him as an evil corporate Rita.
Joining us now is -- -- on it.
He was a pop -- with Romney at Bain Capital is also the also on the unintended consequences and welcome to the program sir thank you for having brought to JPMorgan sudden loss -- fat cat bankers being painted as evil.
Is that a Mitt Romney that you knew and worked with -- not at all I mean it really wasn't involved with Wall Street he was involved -- turning around companies -- really making the tough difficult decisions that made them stronger.
More competitive and got them to grow faster okay now that's a puzzlement mean you -- the -- personally he's not the evil kind of guy.
But was betting you did -- -- caught on how to best that I and I hear that that that's that if we put a case I was working so hard to create today to create value for customers got.
Now he's painted though as an evil capitalist -- -- laid people off everything in the pursuit of profits he put profit -- people did you do that.
Absolutely not.
We worked hard to make companies as strong as we can make them and to get him to grow as fast as we could that's how you make money in business that that that's what you do but you sometimes have to lay people off to get about lean mean conditions -- competitors are trying to -- -- much value to customers as they possibly can for the lowest cost and they're trying to create more and more value at lower and lower costs over time I guess the criticism of Mitt Romney at Bain Capital is a criticism off capitalism.
They don't like it -- it I think there's a lot of truth to that sure that there is it a -- creative destruction and when that occurs people suffer and of course people are going to be very unhappy as a result of that but that is partially what's required to get the economy to grow and move into.
A new arena has a question -- Tracy and I brought up many many times on this program.
The rich seem to be.
And on exactly hated the suddenly demeaned in America success.
It seems to be fashionable to go -- the success and do it down.
Why is that in remarkable places why is that well -- partly depends on which rich is if you're a sports Tara movies are not so much but thankfully that's why nobody hates the Hollywood people nobody -- this won't stop but an executive or a -- Wall Street time they had -- I think there's a lot of truth of that but I think part of it is that.
The economy has changed dramatically from where was in the 1950s where big businesses were making cars and things like that -- today where.
Thirteen entrepreneurs in two years concrete answer Graham a billion dollars of value so we don't mind that value today but people are shocked by the size of.
So what would you tell me if he's you know as a friend what -- you -- to say differently to the American people to really sell the story properly -- -- -- yet.
I think -- it's probably a little too early in the process to start selling that we gotta wait for the campaign season began but of course you know as well as -- -- that the top story that's.
Cards and even.
Started out a couple hundred who've been didn't six know how you think they're expanding at this point anything you know I'm -- I don't name.
Sure I think it really starts up in about August is when that when that the cameras really get -- he's gonna -- -- -- fat sell this -- not been watching volume.
He's gonna have to make that sell there's no doubt about it and everybody hadn't come on come -- Calmer yes -- -- our Fiat former Bain Capital 93 to 2007 bank capital thanks so much we appreciate it thanks for having me --
