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Paul backs Romney’s record at Bain Capital
“At some point Governor Romney has to hold a news conference and walk through in detail some of the companies that Bain took over where they apparently looted the companies, left people unemployed and walked off with millions of dollars,” he said.
In an appearance on Fox News Tuesday, Mr. Gingrich said he wanted to know how Bain could take $180 million out of a company and then have it go bankrupt — at one point suggesting it amounts to “looting.”
“To what extent did they have some obligation to the workers? he said. “Remember there are a lot of people made that $180 million. It wasn’t just six rich guys at the top, and yet somehow they walked off from their fiduciary obligation to the people who made the money for them.”
The Club for Growth, an influential anti-spending group, slammed Mr. Gingrich’s comments, accusing him of stooping to “economically ignorant class warfare” to promote his candidacy.
Speaking outside the Webster School poll station in Manchester earlier Tuesday, Mr. Paul said the other candidates are making a “making a mistake.”
Later, in his interview with The Times, Mr. Paul seemed disappointed that Mr. Romney’s remarks would be taken so far out of context and perplexed that such attacks would come from people who cast themselves as conservatives.
Private equity companies, such as Bain, play a “crucial” role in restructuring companies that are on the verge of bankruptcy, he said.
“If you don’t restructure and a company gets into trouble, everybody loses, so restructuring is what you need,” he said. “Bankruptcy and restructuring are very important principle in free markets.”
He also said argued that if Republicans want to criticize Mr. Romney, they should take him to task for his issue stances, including his decision as governor to create a universal health-care system in Massachusetts — which included an individual mandate.
“I go after him on that and flip-flopping on different things,” he said.
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