Produced by:
KBOO
Program::
Air date:
Mon, 01/16/2012 - 12:00am
Well-read Red Clayton Morgareidge reads an article and comments on investment capital & job creation
Well-read Red, Clayton Morgareidge, reads an excerpt from Gary Weiss' article from Salon on Mitt Romney and vulture-capitalism. The article reviews how Romney's former investment firm bought out companies and destroyed rather than created jobs, while turning a tidy profit, and how Romney's Republican opponents have even cricized him for it (drawing their own criticism for questioning capitalism). At least as important to consider is Clayton's commentary on how Romney's Bain-controversy is a teachable moment for the Left: Capital investment is not the same thing as job creation, and often quite the opposite since wages and benefits diminish profit margins and disincentivize companies from creating jobs.
- KBOO
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