Former Obama administration auto czar Steve Rattner criticized a new Obama campaign ad, which attacks Mitt Romney for his time at Bain Capital, calling the ad "unfair," during a panel discussion on "Morning Joe."
JOE SCARBOROUGH: Steve Rattner, are you embarrassed by this ad, knowing what you know? Are you embarrassed by this ad by the Obama campaign?
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STEVE RATTNER: I think the ad is unfair. Look, Mitt Romney made a mistake ever talking about the fact that he created 100,000 jobs. Bain Capital's responsibility was not to create 100,000 jobs or some other number. It was to make profits for his investors, most of whom were pension funds, endowments, and foundations. and it did it superbly, acting within the rules and very responsibly and was a leading firm. So, yeah, I do think to pick out an example of somebody who lost their job unfortunately, this is part of capitalism. This is part of life. And I don't think there's anything Bain Capital did that they need to be embarrassed about.
SCARBOROUGH: And, Willie, you hurt for the guys that are being filmed there. But they’re being used on a commercial that certainly just — it's demagogic, to suggest that Mitt Romney created unemployment and that, you know, you do anything for as long as he worked at Bain Capital, there are going to be successes and some failures. But here, I just don't think America is going to buy that nonsense.