Vice President Biden is correct when he says that Romney doesn’t get it and the republicans don’t get it as well. President Obama isn’t demonizing private equity, he acknowledges that it has its place within our economy. That is his point, it has its place and function and Vice President Biden even goes further by rightfully pointing out that a Romney presidency would be all about completing the overhaul of our economy into a government sanctioned finance based economy. Romney would turn the power of government away from the guardianship of consumer rights, environmental protections and towards the codification of big business and big banking laissez faire behavior and cavalier attitude towards the consumer. Romney and the republicans have lost sight that consumerism is at the heart of capitalism, not the investor, their short sighted pursuit of vulture capitalism will only destroy itself as a snake does in the end when it feeds upon itself. For a society to succeed, there has to be balance, Teddy Roosevelt understood the dangers of runaway venture capitalism. He stood for the consumers and the country as a whole did better for it. That is what we still need and Obama/Biden understand this.
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