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Must-Read Op-Eds for Wednesday, May 23, 2012

TALL TALES ABOUT PRIVATE EQUITY
STEVE RATTNER
NEW YORK TIMES

Aware of private equity’s reputation, Mr. Romney still trots around the country erroneously calling himself a “venture capitalist.” And in a further effort to deflect attention from the Bain Capital debate, Mr. Romney last week argued that President Obama was responsible for the loss of 100,000 jobs in the auto industry over the past three years. That’s both ridiculously false ... and a remarkable comment from a man who said that the companies should have been allowed to go bankrupt and that the industry would have been better off without President Obama’s involvement. Adding jobs was never Mitt Romney’s private sector agenda, and it’s appropriate to question his ability to do so.

PRESIDENT OBAMA WANTS IT BOTH WAY ON PRIVATE EQUITY
EDITORIAL
WASHINGTON POST

The president accepted $3.5 million in campaign donations from private equity executives in 2008, and additional dollars this time around, so it would have been awkward for him not to concede that private equity does “good work.” ... What we’re left with is a president who seems content to present an even-handed view of private equity at his news conferences while propounding a much more tendentious one in his campaign advertising. Pointing out that a business career hasn’t fully prepared Mr. Romney to be president, in other words, is a long way from suggesting that he’s a vampire.

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MAUREEN DOWD
NEW YORK TIMES



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