By Meghan Keneally

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President Obama's campaign team continued their attacks on Mitt Romney's business background when they released a new video on Monday slamming the former CEO for the closure of a office supply factory in Indiana nearly two decades ago.

Addressing the issue directly for the first time, Mr Obama said that Mr Romney's business decisions shows that his first priority is profits and not people.

'My opponent, Governor Romney -- his main calling card for why he thinks he should be president is his business experience,' Mr Obama said at a press conference at the end of the NATO summit.

Plan of attack: President Obama said that it was appropriate to criticize Mr Romney's time as CEO at Bain because the Republican frontrunner has called his business savvy as reason for his candidacy

Plan of attack: President Obama said that it was appropriate to criticize Mr Romney's time as CEO at Bain because the Republican frontrunner has called his business savvy as reason for his candidacy

'He’s not going out there touting his experience in Massachusetts. He’s saying, "I’m a business guy. I know how to fix it." And this is his business.' 

'When you’re president as opposed to the head of a private equity firm, your job is not simply to maximize profits. Your job is to figure out how everybody in the country has a fair shot.'

The question of whether or not pointed attacks about business decisions while Mr Romney was a businessman- as opposed to a public official- came under specific scrutiny when Newark Mayor Cory Booker blasted negative attack ads during a Sunday morning television interview.

The popular Democratic Mayor called such ads 'nauseating', but was quick to walk back his statement- likely at the urging of the White House or Democratic heavyweights.

Back tracking: Newark Mayor Cory Booker made an apologetic clarification video after controversially calling the negative ads being used by both parties 'nauseating'

Back tracking: Newark Mayor Cory Booker made an apologetic clarification video after controversially calling the negative ads being used by both parties 'nauseating'

Just hours after his appearance on Meet The Press, Mr Booker released an apologetic clarification video to his 'social media followers'.

'Stop attacking private equity, stop attacking Jeremiah Wright. This stuff has got to stop,' he said.

Mr Obama clearly did not take that advice, releasing a nearly-six minute video describing the hundreds of lost jobs in a small Indiana town that took place in 1994 when Mr Romney's firm, Bain Capital, took over a local factory and forced cuts.

While the President rejected Mr Booker's criticism, he praised the Democratic rising star as 'an outstanding mayor', but moved on to justify his attacks on Bain. 

Interestingly enough, Mr Obama's explanation sounds like a carbon copy of what Mr Booker said when he made a YouTube video backtracking on his original statements- statements which were lauded on Twitter by Mr Obama's former opponent, Senator John McCain.

Then and now: The Obama video features Jerry Rayburn (shown recently on the right), one of the people who lost their job at SMC in 1994 (left) talking about how he thinks Mitt Romney is a cruel businessman

Highlighted: Valier Bruton was pictured in a local newspaper at the time of the firings (left) and also speaks in the Obama video (right)

'Let me be clear: Mitt Romney has made his business record a centerpiece of his campaign and therefore it is reasonable- and in fact, I encourage it- for the Obama campaign to examine that record and to discuss it. I have no problem with that,' he said.

'I used the word nauseating on Meet The Press. That's really how I feel.

Tough times: As CEO, Mr Romney was responsibly for making clients money and not for the well-being of all citizens

Tough times: As CEO, Mr Romney was responsibly for making clients money and not for the well-being of all citizens

'I get very upset when I see such a level of dialogue that calls to our lowest common denominators and not the kind of things that are going to unify us as a nation and move us forward.'

Capital New York speculates that Mr Booker’s initial intention with the controversial comments was to gain some favorability with a wider audience than simply his largely Democratic Newark constituents.

If he were to seek state-wide or national office, support from moderate Republicans and the financial backing of private equity employees would certainly come in handy.

Mr Obama knows that to be true as well, and was feted in a private fundraiser held by a wealthy Blackstone executive on his last trip to New York.

In the newly-released attack video, Mr Obama's campaign focuses in on Bain Capital's work with Ampad and office product supplier SCM. When Ampad bought SCM, 250 SCM workers were fired.

'Took our benefits, we didn't have any more retirement. And Bain, and Mitt Romney, they did not care about us as workers, they were looking at the mighty dollar,' former SCM employee Jerry Rayburn said in the Obama video.

By 2000, the company lost about 1,500 jobs and went bankrupt while Bain partners and stockholders profited and made approximately $100million from the deal.

'To me, Mitt Romney takes from the poor and the middle class and gives to the rich. He's just the opposite of Robin Hood,' Mr Rayburn continued.


WATCH THE OBAMA VIDEO HERE

WATCH MAYOR BOOKER'S VIDEO HERE

WATCH MAYOR BOOKER'S ORIGINAL STATEMENT HERE

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