You're watching...
Wayne Rogers & Co. Chairman Wayne Rogers on why it is not the role of the government to invest in private sector companies such as Solyndra.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Obama administration might be wishing it didn't start attacking Bain Capital.
As a -- comparisons are piling up.
Nancy Pelosi trying to help the situation by making it worse by praising Obama for taking a risk on the now bankrupt solar panel company.
Wayne Rogers the chairman of Wayne Rogers and company joining me now -- great to have you back on the show thanks for being with us.
Let me read Eric let me region this Pelosi comment today consists really.
Surprised this is shocking so.
She said that the Republicans are the ones who say -- the risk takers now all of a sudden they're saying don't take risks.
This is responding to criticism.
Of so Linder -- which obviously went bankrupt and they compare it to banks saying.
You know if you're taking risks with -- -- you know wouldn't it with -- why would you take them with the wonder why is that the bad comparison.
Who.
-- -- before the -- the most ridiculous fired admitted that I had the risk with the lender with public money was taxpayer money you know the.
Bain Capital was not taxpayer money that's a private equity firm in private equity firms that's what they do is they take risk all the time.
But is not up that -- taxpayers on behalf of some government employee and somebody like that have been taking risks.
It's -- you can't think -- do things king coming into its like how isn't oranges.
Correct.
Parent after.
It you know I'm waiting here's something that debt and Jay Carney was trying to get in on -- and here's -- think he just gets a loss in the muddle through this it's funny but a up.
Difference in -- -- overall view.
What.
Your responsibilities are as president and what your view of the economic future is and and the president believes -- he's made clear that it president's responsibility is not just to.
Those who win but those two in for example on a company where there have been layoffs or company -- gone bankrupt it did you know we have to.
Make sure that.
Those folks have.
The means to find other employment.
That is the most tortured explanation.
I think I've ever heard what -- -- Well that fact of the matter is a he hasn't read the constitution and apparently neither -- the president there's an old.
Place -- the government but did doing this in the first place it's an outrageous thing.
Where -- it said no where is it stated that the government has to invested any businesses whatsoever.
The government is they have not to do that.
And by the way it even if it war this is not about job creation there's nothing that says that they are supposed to be creating jobs.
They're not designed to do that they're not supposed to be that for the private sector.
The government may be they have to stimulate the economy in some -- by passing.
Laws and passing things that would be helpful.
Due to business to create jobs but it's not their job to do that is not their job to make direct investment by the way.
This -- you know there are approximately I don't know thirty or forty of these companies in these various loans that would given these kind of tax incentives primarily for green you know for green.
Cars estimates batteries and yet payment car's batteries wind and so are all of that cut.
And if you look at the comparison of the people who would doing that with the names that are on the White House lawn you will find a remarkable correlation between those who bundled money.
For Obama and those who got these loans it's outrageous that you're saying there's -- connection there.
-- got stuck.
If it's only up on both fool would -- that there's a connection you can look down see if it's some guy who has -- -- -- the White House 24 times as something like that and he got a five billion dollar loan I mean yeah.
Playing Wayne Wayne we're just trying to grow the economy here with our best friend -- right beside us you know.
Let the current thinking it was slightly different topic that we been debating an -- morning meetings here this is.
Folks to seem to have a leg up in life.
Taking advantage of a public dollars food stamps the number of degree holders for example on the dole is up and up dramatically some 33000.
Folks with -- -- -- Are on welfare -- taking food stamps there's a big debate in this country over whether that's the right thing.
What do you say.
Well -- interesting.
Fact if you pull up on your -- anybody can do it on your computer and look at those people who are the highest paid people in this country.
The second category and that group happens to be academics.
So it's amazing.
That you would say that people who are Ph.D.s that the people who are who are on food -- I'm sure there are people who are on would say I'm sure there are people who can afford.
Not to be on food stamps -- our own -- said.
But we have -- it's another case of of of a federal program that's gone -- The amount of not just the fact that there's a Ph.D.
on -- but that.
Fact of the matter that the abuse of the food stamp program by people who are cheating selling -- food stamps we've got people in California go into the casinos in using food stamps.
-- of gambling purposes it's it's it's a terrible situation.
People using taxpayer dollars to shouldn't be that's the famous segment that's for darn sure where -- -- running in green energy company.
Or Europe Ph.D.
At some -- spent hundreds of thousands of dollars on your education now you're getting government help to buy or tertiary I that's the outrage for -- Well -- -- and I think.
It's not goes beyond that in the sense that that.
We have -- to be used to where we use the word for example entitlements when we talk about.
Healthcare and we talk about Social Security.
Entitlement programs everybody is entitled the government is not -- to boosts -- -- -- Jack Kennedy said it wonderfully you know.
Ask not what your country can do for you but what can you do for your country.
And Israel is a great example of that where everybody is committed to doing something for the country we don't do that -- we take we take they are fewer people now.
Paying into the government then there are taking out of the government and sooner or later you know its gonna be good by USA hello worry.
Hello Greece Wayne Rogers thanks for coming on tonight always a pleasure to have -- -- appreciate your time thank you.
