Gingrich on Romney's Record as CEO

Newt Gingrich addresses ad attacking Romney's tenure at investment firm.
2:50 | 01/07/12

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Transcript for Gingrich on Romney's Record as CEO
Mr. speaker groups supporting you. 11 run by one of your closest longtime advisors -- put at a very scathing attack just today on governor -- on his tenure. As the CEO of that investment firm. Being Catholic cults that tenure -- story of greed that's a quote. Saying that they made spectacular profits by again quote stripping American businesses of assets selling everything to the highest bidder. And often killing jobs for big financial rewards do you agree with that characterization. Well I haven't. I haven't seen the film but it does reflect the New York Times story two days ago warned Japan company and I think people should look at the -- and decided that's factually accurate. It raises questions that I'm very much for free -- -- -- I'm very much exactly what the governor just described. Create -- business grow jobs provide leadership. I'm not nearly as enamored of a Wall Street model. Where you can -- companies you can do women have Leveraged Buyouts you can. Basically take out all the money leaving behind the workers and I think most model well -- I think you have to look at the film have to look at the New York Times coverage of one particular company. You have to ask yourself some questions governor has every right to defend that and I think but I think it's a legitimate part of the debate is okay. On balance were people better off or were people worse off for this particular style of investment. Back in December you said that. Governor Romney made money it gained by quote bankrupting companies and laying off employees that was I think the New York Times story two days ago they took one specific company. They walk through and detailed -- what they bought it for. How much they took out of it and the 17100 people they left unemployed now -- -- the New York Times story but that's their story governor Romney response. Well I'm not surprised at the New York Times. -- -- -- free enterprise -- trial. I'm not surprised to have the Obama administration do that either it's a little surprising from by colleagues on this stage which we understand. That in the free economy in the private sector. That the sometimes investments don't work and you're not successful. It it always -- she was you have to be in a situation. Of of downsizing a business and ordered trying to make it more successful turnaround and trying grow again. And I'm very proud of the fact that the two enterprises -- -- were quite successful when the Olympics was successful in my state. Was successful the state of Massachusetts but in the business I had we invested in over a hundred different businesses and net net. Taking out the ones we lost jobs and those that we -- those businesses have now -- over a 100000. Jobs. I have a record of learning how to create Jonathan question. About that that that calculation of the 100000 jobs if you could explain a little more I've read some analysts who look at it and say. -- -- counting the jobs that were created but not counting the jobs they were taken away is that accurate. No it's not accurate it includes the net of both I'm good -- numbers got to make sure I got both sides of that.

This transcript has been automatically generated and may not be 100% accurate.

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