Private Equity in the Political Crossfire :: Audio
Professor David Brophy finds Republican attacks on Romney's time at Bain Capital an odd way to court conservative voters.
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ANN ARBOR, Mich.—Republican presidential candidate Mitt Romney is coming under fire for his time running private equity firm Bain Capital. But the attacks are not coming from the "Occupy" movement. It's fellow Republican candidates who are firing the shots during this primary season. In this podcast, professor David Brophy, director of the Office for the Study of Private Equity Finance at Michigan Ross, explains why he thinks the tactic is a poor way to court Republiican voters. That said, the debate reveals the industry's vulnerability in the court of public opinion. The private equity world is misunderstood and could do more to promote itself and educate the public, he says.
"If you deny the fundamentals of private equity, you are denying the value of the endogenous growth model which is at the core of what we believe here in the United States," Brophy says.
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