House Minority Whip Steny Hoyer (D., Md.) said he agreed with President Clinton's defense of private equity in a Friday interview on CNBC.
"I think President Clinton is correct," Hoyer said. "Private equity is a very important aspect of our growing economy."
"Obviously, there's good practices in private equity; there are bad practices. You criticize bad practices but not the whole enterprise itself," Hoyer added.
Hoyer also defended the Obama campaign's focus on Romney's business record in the interview.
Clinton said Romney "had a good business career" and suggested the former Massachusetts governor's business record should not be the focus of the campaign in a Thursday interview on CNN.
"There’s no question that getting up and going to the office and basically performing the essential functions of the office, a man who’s been governor and had a sterling business career crosses the qualification threshold," Clinton said.
ANDREW ROSS SORKIN: Let’s continue this conversation. Joining us in the conversation--Steny Hoyer, I want to talk about jobs and a lot of things but react, if you would, to what Bill Clinton said about private equity and Gov. Romney.
REP. STENY HOYER: I think President Clinton is correct. Private equity is a very important aspect of growing our economy. Obviously, there's good practices in private equity, there are bad practices. You criticize bad practices but not the whole enterprise itself.
SORKIN: Is it unfair for the president to attack Romney on his business record?
HOYER: I think Romney has made his business record a central theme in his campaign. How in Heaven’s name can you avoid discussing his business record? He's said I'm a guy who can build businesses. As a result, he clearly must have expected his business performance was going to be at issue. Of course it's going to be at issue.