What makes Cory Booker run? Bain Capital controversy exposes Newark mayor's ties to big money
theGRIO REPORT - Officials in Newark, who knew Cory Booker, before he became a regular headline maker weren't surprised that the mayor had delivered another controversial statement...
Was Booker making a legitimate point?
“I’m against negative campaigning as he is.” But Rice couldn’t condone Booker bringing up Rev. Jeremiah Wright and Bain Capital. “I think it was apples and oranges to compare the two.”
The currents from this political firestorm not only continue to spread heat well beyond the debate about what constitutes negative campaigning, the media is busy exposing Booker and New Jersey’s deals with private equity firms. Again, they quote Booker’s comments during hisMeet the Press interview.
“I have to say from a very personal level, I’m not about to sit here and indict private equity. It’s to me, we’re getting to a ridiculous point in America. Especially that I know I live in a state where pension funds, unions and other people are investing in companies like Bain Capital. If you look at the totality of Bain Capital’s record, they have done a lot to support businesses to grow businesses and this to me, I’m very comfortable.”
The Associated Press’ Beth Fouhy, was quick to point out that Booker “is eying a run for statewide office in New Jersey, where many bankers and private equity investors live.”
Other media also pounced on the private equity connection, which included Bloomberg who asked the question: “Why would a key Obama supporter break ranks like that?” And gave the answer: “New Jersey has a lot riding on private equity.” And, according to Bloomberg, Booker, as the mayor of a big city has a “deep interest in economic development” through private equity.
But does it go deeper than that for Booker? Perhaps, according to the website Think Progress, which unearthed an even closer connection to the mayor and private equity. They report that Bain and the financial industry gave over $565,00 to Booker’s 2002 campaign for mayor.
