(CNN) - Jack Welch, the former CEO of GE and a supporter of GOP presidential candidate Mitt Romney, defended Romney's field of private equity in a Wednesday interview on CNN's "Piers Morgan Tonight."
"You take a dead carcass and put oxygen in it, and keep it alive, that's what private equity does," Welch said. "It is a big job creator? No. But does it keep jobs? Yes."
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