Skip to comments.Mitt Romney Takes Credit For The Auto Bailout. Say, What?
Posted on 05/10/2012 10:58:24 AM PDT by SoConPubbie
Its a common thing for a presidential candidate to pontificate about an issue of the day. Its quite another for one to take credit for something he had no discernible role in.
But that isnt stopping Mitt Romney. On Monday, in an interview with Clevelands WEWS-TV, Romney said, Ill take a lot of credit for the revival of the Detroit companies that went through federally sponsored bankruptcies.
As Justin Hyde on Motoramic put it, Its too bad for Romney that Al Gore invented the Internet so we could keep track of what actually happened.
. . . . . . . . .
In the television interview, however, Romney takes his role further than just proposing an idea. Heres what he said:
My own view, by the way, was that the auto companies needed to go through bankruptcy before government help. And frankly, thats finally what the president did. He finally took them through bankruptcy. That was the right course I argued for from the very beginning. It was the UAW and the president that delayed the idea of bankruptcy. I pushed the idea of a managed bankruptcy and finally when that was done, and help was given, the companies got back on their feet. So Ill take a lot of credit for the fact that this industrys come back.
But where was Romney when the actual work was taking place on the bailout? As far as I could tell at the time, when I was reporting on the story on a daily basis for The Times, he was not involved in any visible way, beyond speaking about it.
(Excerpt) Read more at forbes.com ...
Romney had as much to do with the auto bailout as he did with finding that run away girl and rising from the dead in France.
Thanks for posting this.
Its beneficial to remind people that the GOP is about to make a DISASTROUS mistake nominating a socialist sociopath as its candidate for pres.
Lets leave the socialist sociopaths to the other party..
Romney just provided video for the Obama Campaign commercial that will be running in Michigan and Ohio.
Sorry pal but even thinking that makes you look like an extortionist.
What Obama did in the Auto Bail Out was extort money from private investors (myself and probably many of you through our 401K investments), from bond holders and the American people through our taxes.
He did this entirely for the benefit of the UAW and other unions as evidenced by the fact that most of the Auto company stock ended up in the hands of the unions and that non-union auto parts companies did not benefit from the from the bail out.
The fact that Mitt wants to take credit for one of the worst government abuses in the last 30 years shows him to be just another Big Government Republican.
I will most likely end up voting for Mitt but I will be fighting my gage reflex in the voting booth.
I have a long list of disgusting, illegal, and unconstitutional actions by the federal government over the past four years. The two items at the top of that list are ObamaCare and the corrupt auto bailout. Romney is not endearing himself to me by claiming not just to have supported that massive theft from the rightful claimants on GM assets but actually to have in some sense led the governmental thought process. How could any decent person brag about supporting theft from the bondholders, who were entitled under contract law, bankruptcy law, and common law to first claim on GM assets? [Rhetorical question - this is Romney, not a decent person.]
Romney is pathetic. That’s the only word I can think of (that is suitable for polite company).
Hmmmm...You POS liar!
So you were in favor of a managed bankruptcy? Of the type GM went through?
You idiot! You are still saying “I agree” with your opponent and backhandedly saying it was your idea.
So let’s understand what you “a numbers guy” who is good enough know and get it right:
Outright Breaking contract law and screwing the shareholders, many of whom were little old ladies who had relied on their investment in GM.
Enron and Worldcom were real hoots. You and Barrack are modern day Ken Lays and Bernie Ebbers. Hooray.
Taking of “Taxpayer” monies to prop up this company “because it’s a good investment that will have significant returns(profit on investment) to the government.
Unlike the banks, GM still has yet to repay their loans in their entirety.
Since your views still run propitiously coterminous with Barack I ask again “Why is your candidacy even necessary?”
In 2008, Romney wrote a New York Times op-ed titled Let Detroit Go Bankrupt in which he argued for a managed bankruptcy to help turn the industry around. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk, he wrote.
Do we have to buy him some "poop-proof" shoes until November?
How many screeds did I go on here explaining what they did, how it took us back to the Magna Carta even, and how it was a total destruction of contract law which continues today, even with the Catholic Church...
I got to go, I maybe back later, but he is beginning to suffer from McCainolyosis or something....
See my 11. The premise of this Forbes Op-Ed is a lie.
See my 11. I do not like Romney, but let’s call ‘em out when they lie.
In 1996 when the GOPe ran Dole, it was obvious that the party had left me, just as the demonrat party had left Reagan.
And they aren't coming back. Fast forward to 2012 and read the Romney record to see for yourself.
The party that Reagan revived and I eagerly joined has left him and left us to pursue their progressive socialist agenda instead.
Now, I'm a Tea Party independent. When something is no longer necessary, it fades away. This is especially true for political parties.
And there is nothing we can do about it. IT is so very disgusting. Just as polls start to look like Romney might have a slight chance - he starts this crap. He is self destructing even before the Fall campaign really gets rolling. AS someone else posted, he is providing cannon fodder for Obama.
We are truly screwed. But I'm sure the FR MittBots are ready to spring into action to explain all this away (apologists).
Are you denying Mitt’s own words and the context in which they were said?
I'm no Romney fan, but lets not make stuff up.
I’d say Mitt is shooting himself in the foot, but the honest truth is he is not much different in the grand scheme of things from Obama. Both are left of center and believe in big government. Enough said.
I know what he proposed in 2008 but what he is saying here is that he agrees with how it was done.
I got no problem with the original premise but, in this instance a good many people got in the A&&.
I have several friends who lost more than $1 million and a few lost a little under.
Romney coming out and saying this was his idea without a qualifier is what I disagree with.
If he wants to preface his commentary with why it was wrong then explain how it could have worked under traditional BK laws that would be fine as well.
As I read the article it seems he is only saying “My idea, good outcome”.
Managed BK’s are done all time but this is the 1st one I am aware were the government came in and broke contract law screwing the bond holders(my friends) and in the process marginalizing peoples life savings and retirement monies.