Democratic Newark, New Jersey, Mayor Cory Booker seems like a good, intelligent, down-to-earth guy.

Image representing Cory Booker as depicted in ...
Image via CrunchBase

How intelligent is he?  He went to Stanford, received a Rhodes Scholarship to Oxord, earned a Juris Doctor from Yale Law School.  That takes some serious smarts.

He’s a bit of a hero to people as well, doing everything from saving a woman from a house fire on April 12 to showing up at an elderly man’s house with volunteers to shovel the man’s snow-covered driveway after going through a Twitter exchange with a constituent concerned for the man’s well-being.

Cory Booker tends to show some good common sense.  I’ve seen the man speak in a leadership conference via satellite, and generally liked what I’ve heard from him … a lot.

Then there was his appearance on “Meet The Press” Sunday morning, where he made a statement that made me scratch my head.

Booker made it known that he disapproves of using negative advertising in political campaigns.  Normally, I would applaud that myself, but it’s a bit late to try and stuff that genie back into the bottle.  His displeasure on Sunday’s “MTP” was directed more toward the Obama campaign’s ad talking about Republican presidential candidate Mitt Romney’s experience as a founder of Bain Capital, a private equity firm.

“This kind of stuff is nauseating to me on both sides,” Booker said of negative ads. “It’s nauseating to the American public.  Enough is enough.  Stop attacking private equity.”

Stop attacking private equity, Mayor Booker?  In an age where Social Security is called a Ponzi scheme and people eat it up like chocolate, sticking with some truth and facts when it comes to talking about Romney’s experience in a private equity firm seems rather … tame.  It especially makes me scratch my head when a large part of private equity firms‘ methods involve cutting costs by cutting jobs — something Mitt Romney had plenty of experience doing while at Bain Capital.  And Romney is running on the claim that he’ll create jobs?

That sounds closer to “fair game” to me rather than a cheap shot.  A cheap shot in this campaign would be closer to associating Obama with Rev. Wright … again.  Not that Mitt Romney has approved that ad himself.

I have a bit too close of an experience with a private equity firm to swallow Mayor Booker’s argument that they should be treated with kid gloves.  After all, that’s a big part of how I ended up on the unemployment rolls myself.

Let’s not fool ourselves into thinking that private equity firms are the saviors of American jobs.  They’ll look strictly at their own bottom lines before they’ll look at how to create or save jobs.  And if Social Security can be compared to a Ponzi scheme, private equity firms could just as easily be compared to massive plundering.

With all due respect to Mayor Booker, maybe he needs to watch this fairly creepy yet accurately elementary look into just how private equity firms operate.

Does anyone know of any good job openings at a lemonade stand?  I’m available.

Copyright 2012, Daddysangbassdude Media


4 thoughts on “You’re a good man, Cory Booker, but on this one remark …

  1. OK, that video…very good way to explain the methods used in private equity deals, but dang. Creepy doesn’t even start to describe it! Eeek!

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