Democrat Cory Booker may not want “to sit here and indict private equity” like that once run by Republican presidential hopeful Mitt Romney, but a former Labor secretary was more than happy to take that plunge.

Booker, the mayor of Newark, N.J., stirred up a firestorm Sunday by appearing on national TV to seemingly undercut President Obama’s attacks on the way Romney handled his time at the head of private-equity firm Bain Capital.

However, Robert Reich, the Clinton-era Labor secretary and noted liberal economist, teamed up with MoveOn.org to create a lively and clever Web video which describes just why a political critique of private equity firms is entirely valid — “in eight simple steps.”

WATCH THE VIDEO HERE:

Click here to view the embedded video.