Romney's equity past may be a target

WASHINGTON, Aug. 3 (UPI) -- Some members of the U.S. private-equity sector are bracing for a political beating if former colleague Mitt Romney becomes John McCain's running mate.

Romney, a former Massachusetts governor and ex-presidential hopeful, was once involved in the equity business and will likely be portrayed by the Democrats as a corporate raider whose contribution to society is taking over struggling companies and laying off scores of employees in order to score a quick profit.

Democratic strategist Mark Mellman told Politico Sunday the issue would surely come up should McCain, Arizona senator who is the presumptive Republican presidential nominee, select Romney to be his vice presidential running mate.

"This is an economy where people are on edge about things like downsizing and getting laid off and here's a guy who has wielded that knife," said Mellman, who worked on John Kerry's presidential campaign in 2004.

Politico said some equity players are also concerned that a higher profile for Romney will shine a spotlight on tax policies that benefit their industry.