Did President Obama take Mitt Romney's advice on the auto rescue?

But don’t ask Washington to give shareholders and bondholders a free pass — they bet on management and they lost.

The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.

In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check.

"let detroit go bankrupt"


http://www.nytimes.com/2008/1...

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,” Romney said during an interview with ABC News’ Cleveland affiliate WEWS on Monday. ”He took them through bankruptcy. That was the right course I argued for from the very beginning. It was the AW and the President that delayed the idea of bankruptcy.”
what he said in ohio

http://abcnews.go.com/blogs/p...

That is so not true read this ... and then come back at me!

http://politifact.com/truth-o... :

A SAMPLE OF CAMPAIGN PROMISES KEPT BY PRESIDENT OBAMA:

No. 4: Extend child tax credits and marriage-penalty fixes
No. 16: Increase minority access to capital
No. 33: Establish a credit card bill of rights
No. 36: Expand loan programs for small businesses
No. 37: Extend the Bush tax cuts for lower incomes
No. 38: Extend the Bush tax cuts for those making less than $250,000 (couples) or $200,000 (single)
No. 48: Close the “doughnut hole” in Medicare prescription drug plan
No. 51: Require insurance companies to cover pre-existing conditions
No. 53: Give tax credits to those who need help to pay health premiums
No. 55: Require large employers to contribute to a national health plan
No. 56: Require children to have health insurance coverage
No. 57: Expand eligibility for Medicaid
No. 58: Expand eligibility for State Children’s Health Insurance Fund (SCHIP)
No. 63: Require health plans to disclose how much of the premium goes to patient care
No. 65: Establish an independent health institute to provide accurate and objective information
No. 69: In non-competitive markets, force insurers to pay out a reasonable share of their premiums for patient care
No. 70: Eliminate the higher subsidies to Medicare Advantage plans
No. 93: Reinstate executive order to hire an additional 100,000 federal employees with disabilities within five years.
No. 105: Increase the Veterans Administration budget to recruit and retain more mental health
No. 109: Fully fund the Veterans Administration
No. 113: Expand the Veterans Administration’s number of “centers of excellence” in specialty care
No. 121: Fully fund the Violence Against Women Act
No. 125: Direct military leaders to end war in Iraq
No. 126: Begin removing combat brigades from Iraq
No. 132: No permanent bases in Iraq
No. 161: End the abuse of supplemental budgets for war
No. 167: Make U.S. military aid to Pakistan conditional on anti-terror efforts
No. 172: Open “America Houses” in Islamic cities around the globe
No. 182: Allocate Homeland Security funding according to risk
No. 195: Seek verifiable reductions in nuclear stockpiles
No. 196: Extend monitoring and verification provisions of the START I Treaty
No. 197: Stand down nuclear forces to be reduced under the Moscow Treaty
No. 215: Create a rapid response fund for emerging democracies
No. 222: Grant Americans unrestricted rights to visit family and send money to Cuba
No. 225: Establish an Energy Partnership for the Americas
No. 229: Expand the Nurse-Family Partnership to all low-income, first-time mothers
No. 239: Release presidential records
No. 241: Require new hires to sign a form affirming their hiring was not due to political affiliation or contributions.
No. 244: Provide affordable, high-quality child care
No. 247: Recruit math and science degree graduates to the teaching profession
No. 259: Reduce subsidies to private student lenders and protect student borrowers
No. 269: Increase funding for national parks and forests
No. 275: Expand Pell grants for low-income students
No. 290: Push for enactment of Matthew Shepard Act, which expands hate crime law to include sexual orientation and other factors
No. 293: Repeal “Don’t Ask, Don’t Tell” policy
No. 315: Establish ‘Promise Neighborhoods’ for areas of concentrated poverty
No. 359: Rebuild schools in New Orleans
No. 371: Fund a major expansion of AmeriCorps
No. 411: Work to overturn Ledbetter vs. Goodyear
No. 422: Create new financial regulations
No. 427: Ban lobbyist gifts to executive employees
No. 433: Sign a “universal” health care bill
No. 435: Create new criminal penalties for mortgage fraud
No. 449: Raise fuel economy standards
No. 458: Invest in all types of alternative energy
No. 483: Invest in public transportation
No. 495: Double federal spending for research on clean fuels
No. 500: Increase funding for the Environmental Protection Agency
No. 507: Extend unemployment insurance benefits and temporarily suspend taxes on these benefits
No. 513: Reverse restrictions on stem cell research