Quantcast

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

Mopvyzo 2012/05/09 01:10:45
You!
Add Photos & Videos
Add a comment above

Top Opinion

Sort By
  • Most Raves
  • Least Raves
  • Oldest
  • Newest
Opinions

  • Mrkando 2012/05/10 03:02:25
    No Romney is a big liar
    Mrkando
    +1
    And the Auto industry can be grateful for it. It would have cost thousands of jobs. Why he is now taking credit for it is very strange. Had Obama followed his advise there would have been no bailout and the auto industry would have collapsed.
  • Keeping It Real 2012/05/09 23:54:36 (edited)
    No Romney is a big liar
    Keeping It Real
    2face Romney is nothing short of a snake oil salesman! snake oil salesman
  • scbluesman13 2012/05/09 19:19:31
    No Romney is a big liar
    scbluesman13
    Romney is a pathological liar. Half the time he does it, I'm not even sure he realizes he's doing it:

  • David Lindner 2012/05/09 14:22:59
    Yes Romney is right
    David Lindner
    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...
    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...
    (more)
  • Steve David L... 2012/05/12 21:34:33
    Steve
    Bankruptcy reorganization did happen, but only because Obama put taxpayer dollars on the line at the beginning. If that hadn't happened, it wouldn't have been a reorganization of the industry, it would have been liquidation.



    Romney is a liar.
  • flaca BN-0 2012/05/09 14:07:46
    No Romney is a big liar
    flaca BN-0
    +1
    I think Orwell called this attempt to convince the public that they had been mistaken all along - we never said that, or we never did that (when in fact they did) was called DOUBLESPEAK wasn't it?

    David Letterman's Top Ten list should be
    "Ten Things Mitt Romney Could Claim Were His Idea"
  • Veni Vidi 2012/05/09 13:21:46
    No Romney is a big liar
    Veni Vidi
    Romney made his fortune by laying off people and devouring companies.

    Why should he do something else in this case? When the score of the life time comes along? That is what he does. He is a vulture capitalist. If corporations are people then Mitt is a serial killer.
  • carolynb 2012/05/09 13:17:14
    No Romney is a big liar
    carolynb
    Romney said the private sector should pick up the tab, but no one would invest in the auto industry, where Obama lent the money thru the govt, and now the industry is paying back the loan with interest. Mr Businessman, Romney, was totally wrong and Obama was right.
  • darwolf 2012/05/09 09:41:54
    No Romney is a big liar
    darwolf
    No Obama finish what bush started.
  • aneed2know 2012/05/09 05:23:08
    No Romney is a big liar
    aneed2know
    +3
    Romney is a flat out Liar and i hope people dont buy this BS
  • sjalan 2012/05/09 04:58:28
    No Romney is a big liar
    sjalan
    +3
    He is the biggest liar to come along in my lifetime
  • wtw 2012/05/09 03:03:30
    Yes Romney is right
    wtw
    Romney said let them go Bankrupt and he was right!
  • D.C. Wi... wtw 2012/05/09 03:26:55
    D.C. Willis
    +3
    Romney is a fool. If the auto industry had failed we would really be up a creek without a paddle.

    Besides Romney has recently stated that he would have given them government help after they filed bankruptcy. Which essentially means that he would wait until the maximum amount of people could be laid off and collect unemployment, then bailout the industry.

    My motto is "An uniformed vote is worse than not voting at all". :-)
  • aneed2know D.C. Wi... 2012/05/09 05:24:01
    aneed2know
    +2
    Or worse yet, he would have let his vulture capitalist pick over the bones.
  • Wilde~MoonChild ™ 2012/05/09 02:22:31
    No Romney is a big liar
    Wilde~MoonChild ™
    +7
    Hes really starting to get under my skin now!! Grampy McSame (McCain) didn't get under my skin like this..
    Romney's purchasing the elections and trying to make him and Obama look similar that people will vote for him.
    There's a HUGE difference.. Romney's a bold-face liar and he thinks the American people are too stupid to noticed.
  • luvguins 2012/05/09 02:22:10 (edited)
    No Romney is a big liar
    luvguins
    +6
    You cannot trust anything that comes out of Romney's mouth. This lie is outrageous.
  • Mike luvguins 2012/05/09 02:30:34
  • luvguins Mike 2012/05/09 03:38:20
  • Mike luvguins 2012/05/09 14:53:17
    Mike
    He's not the president - he holds no public office
  • luvguins Mike 2012/05/09 15:24:02
    luvguins
    +2
    Fortunately, this absurd clueless clown won't be holding public office, but he is running for one, dimbulb.
  • Mike luvguins 2012/05/10 02:12:51
    Mike
    You just described the current
  • luvguins Mike 2012/05/10 02:40:31
    luvguins
    No, that would be the animated cadaver, Romney, that you are on board with, loser.
  • #Justice4Trayvon 629 BLOCKT... 2012/05/09 02:07:25
    No Romney is a big liar
    #Justice4Trayvon 629 BLOCKT CONS
    +6
    Thank God President Obama took the action he did. At the time this country was losing 750,000 jobs monthly because our economy was in free fall, headed toward a 2nd Great Depression.

    Mitt Romney is an unmitigated liar. He wouldn't know the truth if it slapped him in the face.
  • ὤTṻnde΄ӂ 2012/05/09 01:38:56
    No Romney is a big liar
    ὤTṻnde΄ӂ
    +7
    Of course not. President Obama knew they had to go through bankruptcy, Willard just didn't think the money should come from the U.S. government. Since there were no other lenders, Willard would have allowed the auto industry to go bust.

    This is part of Willard's plan. Remember he also wants the foreclosures of homes to continue so "investors" can buy up the homes and rent them back to the common people. He'd love to see the auto industry go bankrupt so his buddies could buy it up and make autos unaffordable.
  • aherbert 2012/05/09 01:33:50
    No Romney is a big liar
    aherbert
    +7
    Do not believe a word this flip flopper says ....

    mit romney flip flooper

    mit romney flip flooper
  • Boris D. aherbert 2012/05/09 01:39:54 (edited)
    Boris D.
    +1
    Romney did not change his position on this. In fact, it took some huge balls for him to say that right before the Michigan primary in 2008, but it was the truth. He has experience in these matters and knows when a company needs to restructure it's debt. The union deals were killing the auto companies and only bankruptcy could get them out of those contracts. He took a lot of heat for saying that, especially here in Detroit. We should have listened to him then.

    But, you would give Obama more "flexibility" to flip-flop his positions after the election??
    obama flexibility
  • aherbert Boris D. 2012/05/09 01:46:13 (edited)
    aherbert
    +6
    Yep … he is dealing with the party of no in congress … even though, he is turning the mess around that Dubya created in eight years …. Slowly but surely …. America cannot sustain another ReTHUGlican in the white house …. It is too much cleaning up to do …

    conservative agenda
  • Boris D. aherbert 2012/05/09 01:50:48
    Boris D.
    He hasn't turned around squat, even with a democrat house and senate giving him everything he wanted for 2 years.
  • aherbert Boris D. 2012/05/09 02:00:40
    aherbert
    +6
    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 t...










































    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
    (more)
  • Mike aherbert 2012/05/09 02:32:54
    Mike
    Man did all that nonsense spur on the economy laugh
  • D.C. Wi... Mike 2012/05/09 03:30:24
    D.C. Willis
    +1
    It kept some families off the street and healthy. Guess that doesn't matter because we are Americans and should not take care of our own. (Sarcasm)
  • aherbert Mike 2012/05/09 16:59:07
    aherbert
    Yep it stimulated it and we are recovering … there is more to America than the economy … conservatives have tunnel vision.
    conservative tunnel vision
  • darwolf aherbert 2012/05/09 10:00:31
    darwolf
    No. 125:Direct military leaders to end war in Iraq. Sorry but that is wrong. Bush in 2008 signed a treaty for us troops to be out by the end of 2011. Obama tried to get Iraq to extend the deadline. But Iraq said no.
    No. 132: No permanent bases in Iraq. Again that was Iraq's government doing not Obama.
    http://globalspin.blogs.time....

    http://www.politico.com/news/...
  • aherbert darwolf 2012/05/09 17:00:30
  • Charge 2012/05/09 01:18:46
    Yes Romney is right
    Charge
    +1
    Romney said they should go thru BK first... they did.
    However the money should have mostly been a loan not equity because now the taxpayers will lose $20billion.
  • Boris D. Charge 2012/05/09 01:26:28 (edited)
    Boris D.
    +1
    And since Obama owns them now, the whole bankruptcy procedures corrupt.

    They changed the rules of bankruptcy law so Obama could hook up his union buddies with ownership while totally screwing over the bond holders.
  • Charge Boris D. 2012/05/09 01:30:19
    Charge
    +1
    Exactly correct, plus GM received $billions in tax breaks and is sitting on $30billion in cash that they do not have to pay to the taxpayers.
  • Wilde~M... Charge 2012/05/09 02:33:22
    Wilde~MoonChild ™
    +4
    Link please?
  • Charge Wilde~M... 2012/05/09 15:06:09
    Charge
    There's way more than one, you should have been able to find it easily, but here You go.
    Quote from Bloomberg:
    If GM manages to address all these issues, notes Sean McAlinden of the Center for Automotive Research, its share price might go up $40 to $45, leaving taxpayers still $5 billion to $8 billion in the red. But that’s under the best scenario. If stock prices remain at the current $25 level, the losses could mount up to $15 billion. That’s not counting the $15 billion in tax write-offs that GM got as part of the bankruptcy deal. All in all, taxpayers are facing somewhere from $20 billion to $30 billion in losses.
    Link:
    http://www.bloomberg.com/news...
  • Wilde~M... Charge 2012/05/09 16:50:50
    Wilde~MoonChild ™
    I probably could find it but I wanted your link. Thank you.. I'll look this over

See Votes by State

The map above displays the winning answer by region.

News & Politics

2014/10/02 02:27:44

Hot Questions on SodaHead
More Hot Questions

More Community More Originals