1) Mitt Romney had a sterling business career
While (current) President Barack Obama criticized Mitt Romney’s career at Bain Capital, (former) President Bill Clinton praised Mitt Romney: “The man who has been governor and had a sterling business career crosses the qualification threshold.”
President Clinton went on to call Mitt’s record at Bain Capital as “sterling.”
It seems like a very good endorsement by Bill Clinton.
Romney, of course, would feel very happy…to hear Clinton’s thoughts. “I think Bain Capital has a good and solid record. I was happy to see President Clinton made a similar statement … and called my record superb,” he said on Friday, according to Politico.
“I understand that over the last 28 years, according to a letter they wrote to their investors, 80% of the businesses Bain Capital invested in grew during the period of Bain Capital’s ownership. That’s a pretty good record,” Romney proudly added.
2) Speaking of endorsement…
Bill Clinton’s indirect endorsement was not the only endorsement that Romney picked up this week.
Former First Lady Nancy Reagan said, during a visit by Mitt and Ann Romney at her home, that “Ronnie” (Reagan) would have liked Romney’s business background and “strong principles”—as reported by Fox News.
On 05/29, former Secretaries of State George Shultz and Condoleeza Rice also gave their support for Romney.
“That’s the truly exceptional nature of this country,” she told those gathered at a fund raising event. “It’s understood in this world. Its leadership is craved in this world. And Governor Romney, you can bring it back.”
“If America is going to rebuild its strength at home, rebuild its sense of who we are, it needs a leader that also understands how really exceptional the United States of America is, and is not afraid to lead on the basis of that exceptionalism,” Rice said to the 300 donors. “The only thing that people dislike more than unilateral American leadership is no American leadership at all.”
(Rice, of course, is rumored to be a potential VP for Romney)
At the same event, George Shultz, former Secretary of State under Reagan, also endorsed Romney. “What he has done at Bain Capital has been a major contribution to the American economy,” said Shultz. Venture capital firms “help make our economy more competitive; they learn how to keep costs under control; they are the kind of people who help figure out where to put investments,” Shultz added, “He has learned and instinctively can feel what it takes to get this huge amount of money that is sitting on the sidelines of our economy to move forward and invest.”
(End of quotes from newsmax.com)
Private companies will fold when they are not profitable—unlike government owned Postal Service that continues their business model year after year on annual loss of billions of dollars.
Venture capital firms take private investments and return maximum profits—higher risks will reward high returns of profit.
On the other hand, you will have irresponsible government investment of hundreds of millions of tax money into business like Solyndra without being held accountable.
Losing businesses will fold—jobs will be lost.
At the same time, profitable businesses will prosper and expand—jobs will be created.
Free market. Fair competitions.