A week ago, Vice President Joe Biden insisted that private-equity experience didn’t qualify anyone to be President:

Today the Romney campaign released a new ad reminding people of what Biden neglected to mention, which is that being a legislative backbencher for a decade and President doesn’t qualify one to conduct private-equity transactions, either.  And since Barack Obama insists on playing with our money, maybe having some private-equity experience would have helped  One thing is certain — it couldn’t have hurt:

President Obama has given billions of taxpayer dollars to companies that later failed—many of them were run by Democrat donors. This is just another example of President Obama’s pattern of picking winners and losers and wasting taxpayer money.

Biden could have had a point if his boss hadn’t decided to become President Private Public Equity, although even then Romney had a term as governor of Massachusetts and his rescue of the Salt Lake City Olympics, which makes him still more qualified for the presidency than Obama, even discounting his long record of success as an executive in the private sector.  Since this administration insists on making equity bets with our money, maybe it’s time to get someone who knows what he’s doing in position to make those choices — or better yet, find someone who isn’t interested in picking losers with house money in the first place.  Either would be an improvement over what we have now.

Maybe Obama can take his running mate’s advice and take up amateur plumbing in his retirement.