Meet Obama’s national co-chair: Federico Pena – private equity manager like Mitt Romney was at Bain Capital
Private equity/venture capitalism is bad I tell you! Bad! At least that’s what Obama and his Marxist Democrats have claimed. They smeared Newark Mayor Cory Booker for defending Mitt Romney’s time as a private equity manager at Bain Capital. Now here is some even more delicious irony from the Marxist Obama regime. Federico Pena who was once mayor of Denver is an Obama campaign co-chair. Federico Pena also just so happens to be a private equity manager whose firm has shut down several factories and laid off hundreds of people amid a stalled economy. You know, like what the Democrats accused Mitt Romney of doing at Bain? According to Daily Caller, Federico Pena is also a partner with Vestar Capital Partners. It’s not like Frederico Pena has been a partner recently. Pena has been with Vestar since the year 2000! I’d love to see how Obama, David Axelrod, Jim Messina, and all the press secretaries in the media spin this. Newt Gingrich ended up doing Mitt Romney a huge favor by dropping the Bain bomb during the primary. Obama and his collection of idiots took the Bain bomb and ran with it, and it’s completely backfired. Pena is responsible for laying off 1,000 works at Del Monte this month.
Pena has already contributed $5,000 to Obama’s campaign, even though Vestar laid off 1,000 workers from Del Monte this month, closed three factories and laid off 540 people at Solo Cup Co., and fired another 500 workers at BirdsEye food-processor in 2006, according to the report.
The Pena revelation follows reports highlighting the venture capital careers of two people on the president’s jobs council.
Richard Parsons, chairman of Citigroup, is a senior adviser at Providence Equity Partners, and Mark Gallogly is a co-founder of Centerbridge Partners.
Pena joined Vestar in 1998. “Our strategy is simple: We look for strong management teams at successful companies with excellent growth potential,” according to the company’s website. “We back those teams with the capital and global resources they need to realize that potential and take their companies to the next level.”
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