Yes, you read that headline correctly. The director of the Office of Management and Budget, Jeffrey Zients, is a child of Bain. According to his bio found here: http://www.whitehouse.gov/omb/organization_office, Zients "began his career in management consulting at Bain & Company and Mercer Management Consulting, where he focused on developing strategies and improving operations of Fortune 1000 companies." That stinking, evil, nasty, vulture capitalist!
All kidding aside, this is left as an open debate on purpose. Why? I really don't have much of an opinion of this. I'm not big into gitchy, "gotcha" points. I'd prefer to stick to actual economic analysis, and clearly this is not. So I've opened this up for debate, and I want to see what everyone thinks of this.
My only opinion is that I find it pretty funny. I heard about this on the radio yesterday (so no, I'm definitely not taking credit for this discovery), and I came home and had to research it for myself. When my wife came over to me at the computer and asked, "what are you reading?" I simply responded with, "read this" as I highlighted the line pasted above. She (if you read this blog you would know she is a democrat, and that's fine - she even said she would be open to voting for Romney - shhhhhh) simply replied with, "ohhhhh... haha, that's pretty funny." Like I said, I found it funny, too.
So I ask: is this a big deal? Is it small potatoes? Is it hypocrisy? Is it meaningless? Obama continually rails against Romney's time at Bain, and he has made the repeated claim that Bain outsourced jobs (even to the point of putting it in a campaign ad that has since been proven wrong: http://loudmouthelephant.blogspot.com/2012/06/obama-campaign-deceit-machine-rolls-on.html), but private equity and Bain Capital are not bad enough things to stop Obama from hiring a former employee? Aren't republicans trying to hire one of Bain's former employees to be president?
I want to try something new. In addition to comments (or maybe you don't want to comment, and that's fine), use the rating system below. If you're on the side that believes this IS a big deal, and Obama is a hypocrite, and this should be called out and broadcast across the country, check one for #5 or Strongly Agree. If you think this is meaningless and is completely irrelevant, check #1 or Strongly Disagree. Of course, if you're somewhere in the middle, check one of those values. This can help us quantify people's feelings about this issue. Thank you.