josh kosman? >> i don't think... in my view the facts don't justify what stewart is saying, with all due respect to stewart. what private equity defende now are doing is throwing out a lot of nice terms. "we build businesses" but not a lot of facts behind it. private equity firm returns-- according to several good academic studies-- are no better than the s&p 500 and if we look at bain, which has gotten the most scrutiny lately, four of bane's ten biggest investments under mitt romney ended up going bankrupt and yet bain made a lot of money. so i think there's very little evidence that for the big large private equity firms that they build any value in their businesses. >> woodruff: you get the last word, stewart kohl, t bring us around to your argument on how you see this >> i'm reticent to talk about bain, i'm not an investor or familiar enough with their results although i will say bain has been able to continue to attract capital which would lead me to believe that most of their transactions have worked well enou

the book the best way to rob a bank is to own what and then from our studio in new york we have josh kosman author of the buyout of america how private equity is destroying jobs and killing the american economy gentlemen thank you both for joining me tonight and i guess so much to discuss josh i want to start with you and i want to start with bain capital and start with private equity firms i think that a lot of people out there probably don't know a whole bunch about that they think that find you know you take the company out of the public market something happens in between and then you reintroduce it to the public market so what does it all happen in the in-between. well i think this is what mitt romney is trying to do right now he's trying to throw a lot of dust up in the air so we don't focus on private equity yet ninety percent of what he did was leveraged buyouts which is what private equity used to be called when michael milken was funding those deals and today it's called private equity for private equity firms own companies employing one out of every ten americans they are america