Romney in ‘02: ‘I’m basically in the Investors Hall of Fame’

Updated

On PoliticsNation tonight, Rev. Sharpton played a fascinating clip of Mitt Romney boasting, back in 2002, about his ability to make profits for investors.

“I wish I could bat a thousand,” Romney said during a debate while running for governor of Massachusetts, in reference to his record at private equity firm Bain Capital. “I can’t. But I’m basically in the Investors Hall of Fame. And that kind of record is something I will use to help the people of Massachusetts.”

These days, Romney points to his experience at Bain as evidence that he’s a “job creator.” (That appears to have been true in some cases, and not in others.) But touting his ability to generate profits for investors isn’t as prominent among his talking points. That’s largely because in the post-financial-crisis world, being in the Investors Hall of Fame isn’t seen as something to brag about in quite the same way. Indeed, many have argued that it was the financial sector’s ruthless drive for short-term profits, at the expense of long-term stability, that helped tank the economy in the first place.

In fact, Bain’s focus on generating profits for investors, sometimes at the expense of the workers at the companies it acquired, is the centerpiece of the Obama campaign’s attacks. So it’s hardly something that Romney wants to emphasize.

 

 

Romney in '02: 'I'm basically in the Investors Hall of Fame'

Updated