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Mitt Romney Takes Credit For The Auto Bailout. Say, What?
Forbes.com ^ | 5/08/2012 @ 11:32AM | Micheline Maynard

Posted on 05/10/2012 10:58:24 AM PDT by SoConPubbie

It’s a common thing for a presidential candidate to pontificate about an issue of the day. It’s quite another for one to take credit for something he had no discernible role in.

But that isn’t stopping Mitt Romney. On Monday, in an interview with Cleveland‘s WEWS-TV, Romney said, “I’ll 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, “It’s 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. Here’s what he said:

“ My own view, by the way, was that the auto companies needed to go through bankruptcy before government help. And frankly, that’s 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 I’ll take a lot of credit for the fact that this industry’s 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 ...


TOPICS: Politics/Elections
KEYWORDS: romney
And the Un-Masking of Mitt Romney, the lying, left-wing, Progressive Liberal, continues . . .
 
"If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures." - Alexander Hamilton
 
"We don't intend to turn the Republican Party over to the traitors in the battle just ended. We will have no more of those candidates who are pledged to the same goals as our opposition and who seek our support. Turning the Party over to the so-called moderates wouldn’t make any sense at all." -- President Ronald Reagan
 
"A thing moderately good is not so good as it ought to be. Moderation in temper is always a virtue; but moderation in principle is always a vice." - Thomas Paine 1792
 
"It does not take a majority to prevail, but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." - Samuel Adams
 
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen." - Samuel Adams
 

1 posted on 05/10/2012 10:58:26 AM PDT by SoConPubbie
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To: SoConPubbie
.

Mitt's in trouble ...

especially when his Bain Capital buddies at Forbes call him out on a deliberate lie ...



I keep sayin '

Mitt Romney does "not" get the GOP 2012 nomination ...



.
2 posted on 05/10/2012 11:03:32 AM PDT by Patton@Bastogne (Newt Gingrich and Sarah Palin "will win" the 2012 GOP Nomination in Tampa !)
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To: SoConPubbie

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.


3 posted on 05/10/2012 11:03:36 AM PDT by svcw (If one living cell on another planet is life, why isn't it life in the womb?)
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To: SoConPubbie
More great news about the man who can save the economy. Just what our economy needs, more bailouts NOT!
4 posted on 05/10/2012 11:05:49 AM PDT by Idaho_Cowboy (Ride for the Brand. Joshua 24:15)
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To: SoConPubbie

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..


5 posted on 05/10/2012 11:11:15 AM PDT by myself6
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To: SoConPubbie

Romney just provided video for the Obama Campaign commercial that will be running in Michigan and Ohio.


6 posted on 05/10/2012 11:11:43 AM PDT by Uncle Slayton
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To: SoConPubbie
He thinks taking credit for the Auto Bail Out makes him look Presidential?!

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.

7 posted on 05/10/2012 11:16:55 AM PDT by Pontiac (The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
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To: SoConPubbie

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.]


8 posted on 05/10/2012 11:19:06 AM PDT by Pollster1 (Can we afford as much government as welfare-addicted voters demand?)
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To: SoConPubbie

Romney is pathetic. That’s the only word I can think of (that is suitable for polite company).


9 posted on 05/10/2012 11:25:36 AM PDT by torchy
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To: SoConPubbie

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?”


10 posted on 05/10/2012 11:32:59 AM PDT by Vendome (Don't take life so seriously, you won't live through it anyway)
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To: SoConPubbie
This article is a LIE.

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.

OOPS.

11 posted on 05/10/2012 11:37:42 AM PDT by Lazamataz (To the wall, street occupiers!!!!!)
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To: SoConPubbie
OMG did he really step in this?

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....

12 posted on 05/10/2012 11:38:30 AM PDT by taildragger (( Palin / Mulally 2012 ))
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To: taildragger

See my 11. The premise of this Forbes Op-Ed is a lie.


13 posted on 05/10/2012 11:39:03 AM PDT by Lazamataz (To the wall, street occupiers!!!!!)
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To: Vendome

See my 11. I do not like Romney, but let’s call ‘em out when they lie.


14 posted on 05/10/2012 11:39:45 AM PDT by Lazamataz (To the wall, street occupiers!!!!!)
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To: SoConPubbie
In 1962, Reagan switched to the Republican Party saying "I didn't leave the Democratic Party. The party me."

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.

15 posted on 05/10/2012 11:40:57 AM PDT by GBA (Isaiah 9:11)
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To: SoConPubbie

16 posted on 05/10/2012 11:46:35 AM PDT by TheBattman (Isn't the lesser evil... still evil?)
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To: myself6
Its beneficial to remind people that the GOP is about to make a DISASTROUS mistake nominating a socialist sociopath as its candidate for pres.

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).

17 posted on 05/10/2012 12:15:26 PM PDT by TheBattman (Isn't the lesser evil... still evil?)
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To: Lazamataz

Are you denying Mitt’s own words and the context in which they were said?


18 posted on 05/10/2012 12:17:38 PM PDT by TheBattman (Isn't the lesser evil... still evil?)
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To: TheBattman
According to the article I cited, Romney wrote an op-ed that basically advocated a position close to what occurred.

I'm no Romney fan, but lets not make stuff up.

19 posted on 05/10/2012 12:19:07 PM PDT by Lazamataz (To the wall, street occupiers!!!!!)
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To: SoConPubbie

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.


20 posted on 05/10/2012 12:32:19 PM PDT by Blue Highway
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To: Lazamataz

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.


21 posted on 05/10/2012 2:14:33 PM PDT by Vendome (Don't take life so seriously, you won't live through it anyway)
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