June 01, 2012
Former President Bill Clinton appeared on CNN’s Piers Morgan Tonight, guest hosted by Harvey Weinstein, to provide his take on the presidential election. When Clinton was asked about the recent attacks on private equity, he responded:
“If you go in and try and save a failing company…you can go into a company, have cutbacks and make it more productive with the goal of saving it, and when you try, like anything else you try, you don’t always succeed…so I don’t think that we ought to get into the position where we say this is bad work. This is good work.”
Private equity invests in promising companies poised for growth and those in need of a turnaround. In both these cases, the goal of private equity investment is to strengthen companies for the long-term. Check out our whiteboard video to learn how private equity works.
UPDATE Whip Hoyer (D-MD): “Private equity is a very important aspect of growing our economy.”
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