Robert Reich explains 'The Magic of Private Equity'...

Ernest A. Canning Byon 5/15/2012, 9:19pm PT

Guest blogged by Ernest A. Canning

We covered the subject of wealth acquisition by the likes of Charles Koch and Mitt Romney in "Wealth vs. Democracy and the 2012 Presidential Campaign" --- "outsourcing, manipulations of the financial markets, of government and our laws" --- not as character flaws but as variants of the behaviors one can anticipate from their class.

As we approach the Fall campaign, we can anticipate a propaganda blitz that is based on variations of a line from the song "If I Were a Rich Man" of Fiddler on the Roof --- "When you're rich, they think you really know."

No doubt we will hear, time and again, that Mitt "Gordon Gekko" Romney's wealth acquisition is a testament to his business savvy that will equate to jobs creation. Against that backdrop is this short video (below) in which Robert Reich, former Secretary of Labor in the Clinton administration, provides a succinct rebuttal to the jobs scam canard...



