At an Iowa campaign rally, President Obama pressures Mitt Romney to explain how Bain Capital prepared him for the presidency. MSNBC's Krystal Ball, E.J. Dionne, and Ari Melber join MSNBC's Martin Bashir to discuss the week in Bain and Romney's upcoming Vegas event with Donald Trump and Newt Gingrich.
>> good evening, i'm martin bashir in for lawrence o'donnell, tonight on the campaign trail, president obama rallied support in iowa where he pressured mitt romney to explain how bain capital prepared him for the presidency.
>> he doesn't really talk about what he did in massachusetts . but he does talk about being a business guy. right, he says, this gives him a special understanding of what it takes to create jobs and grow the economy. even if he's unable to offer a single new idea about how to do that, no matter how many times he's asked about it, he says he knows how to do it.
>> the president then articulated his problem with mitt romney 's experience at bain capital .
>> there may be value for that kind of experience, but it's not in the white house .
>> today the president's general election opponent opted for revisionism and extreme rhetoric to muddy the waters around his career at bain capital . it began this morning on the good ship fox news where romney falsely accused the president of being anti-capitalist.
>> there's no question but that he's attacking capitalism. frankly the american people understand that it's the economy is tough, it's hard work. and when they're hearing that bain capital was successful 80% of the time. and 5% of its investments went bankrupt. that's a pretty good record. if all the president wants to talk about is the failures, why he's representing --
>> now listen to what the president really thinks of firms like bain capital . here he is again tonight in iowa.
>> there's an important creative role for it in the free market . their main goal is to create wealth for themselves and their investors. yeah, that's part of the american way , that's fine.(Google)
>> the president doesn't have a problem with bain capital . what he does have a problem with is mitt romney claiming that being ceo of bain capital makes him a job creator, when he of all people knows full well, that isn't what private equity managers do. an important fact that even rush limbaugh little illustrated no less than twice this week.
>> bain capital didn't go into business to create jobs anyway. that's not what private equity does.
>> private equity is not there to create jobs. that's not what they do.