President Obama on Creating an Economy Built to Last
Facebook it: my.barackobama.com Tweet it: my.barackobama.com Tumblr it: my.barackobama.com President Obama responds to questions during a press conference at the 2012 Chicago NATO Summit. President Obama: "Well, first of all I think Cory Booker is an outstanding mayor. He's doing great work in Newark and obviously helping to turn that city around. And I think it's important to recognize that this issue is not a, quote, distraction. This is part of the debate that we're going to be having in this election campaign about how do we create an economy where everybody from top to bottom, folks on Wall Street and folks on Main Street, have a shot at success, and if they're working hard and they're acting responsibly, that they're able to live out the American dream. Now, I think my view of private equity is that it is -- it is set up to maximize profits and that's a healthy part of the free market. That's - that's part of the role of a lot of business people. That's not unique to private equity, and as I think my representatives have said repeatedly, and I will say today, I think there are folks who do good work in that area, and there are times where they identify the capacity for the economy to create new jobs or new industries. But understand that their priority is to maximize profits. And that's not always going to be good for communities or businesses or workers. And the reason this is relevant to the campaign is because my opponent, Governor Romney, his main calling card ...
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