Romney campaign aide claims auto bailout was Romney's idea

The HIll ^ | 04-28-12 | Brendan Sasso

[raulgomez05]

One of Mitt Romney's top advisers said Saturday that President Obama's decision to bailout Chrysler and General Motors was actually Romney's idea.

"[Romney's] position on the bailout was exactly what President Obama followed. I know it infuriates them to hear that," Eric Fehrnstrom, senior adviser to the Romney campaign, said.

"The only economic success that President Obama has had is because he followed Mitt Romney's advice."

[RedMDer]

Click the link. The Republic you save may be your own.

[Irish Eyes]

It is a lie. Romney's only support for a "managed bankruptcy" was through private lenders. Problem was, the financial system was in panic at the time, GM was melting down, and there was no private money available. None. This has since been confirmed by numerous Wall Street sources. The only possibility was a government supported bailout, which Romney opposed. If you don't understand this, you shouldn't pretend that you do.

Taken from another poster and this is the way it was.

[Eagle Forgotten]

The bailout was popular with many people, and “bankruptcy” was a dirty word to them. Opposing the bailout was one of the few times Romney actually took a principled conservative position that could have cost him votes.

And now he’s giving the Etch-A-Sketch a shake and trying to pretend it didn’t happen.

[Mozilla]

It’s a one party government between the republicans and democrats. Obama and Romney are indistinguishable and basically both candidates could run on one ticket. Republicans are a crony capitalist party supporting bailouts, rescue plans and big banks.

[norwaypinesavage]

"this is the way it was."

Exactly. GM WAS bankrupt. The only options were takeover, bankruptcy, or managed bankruptcy. In all three cases, most GM plants would continue to make cars, and most GM workers and retirees would continue to get something.

The problem with the Obama directed managed bankruptcy was that Obama stiffed everyone but the unions. Had a normal bankruptcy court directed the bankruptcy, the union contracts would have been voided and "the New" GM would likely be in an even better position than it is now.