Obama Slams Romney Despite Own Private Equity Cabinet Officials
A memo released by the Obama Admistration takes shots at Mitt Romney for his participation in private equity ventures; despite Obama quietly staffing several cabinet positions with private equity veterans.
Obama's new White House Chief Of Staff, Jack Lew, is a private equity veteran, having been a manager at Citi Alternative Investments. Jeffrey Goldstein, the former Treasurer for Domestic Finance, was a managing director at Hellman And Friedman, and is returning to the firm now that he has left to Obama Administration. At least 8 other administration officials at various levels have come from directly, or had experience, in the private equity world. One financial expert said if that's the road Obama is going to take vs. Romney, he will have to start by "purging his own administration." Private equity, in laymans terms, are financial investments and securities etc that are not dealt with in the public stock exchange. It is a complicated, and often volatile financial arena.