CHICAGO (AP) — President Barack Obama is defending his criticism of presumptive Republican presidential nominee Mitt Romney, saying Romney’s record at the private equity firm Bain Capital is rightfully part of the campaign debate.
He said he has no problem with private equity companies in general. He said there are times when they help the economy create new jobs for new industries.
WATCH ANDREA MITCHELL COVERAGE OF THE BAIN CONTROVERSY:
Still, the president said the main role of private equity firms is to “maximize profits” for themselves and their investors. He said his job as president is to worry about everybody, not just some.
At a news conference closing a NATO summit in Chicago, Obama was asked about comments Sunday by Newark, N.J., Mayor Cory Booker criticizing the president for his attacks on Bain. Obama called Booker an “outstanding mayor.”
Copyright 2012 The Associated Press.