Romney takes credit for Success of Auto Bailout... Can we take anything he says seriously?
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2012/05/08 15:50:57
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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‘sWEWS-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 onMotoramic put it, “It’s too bad for Romney that Al Gore invented the Internet so we could keep track of what actually happened.”
But that isn’t stopping Mitt Romney. On Monday, in an interview with Cleveland‘sWEWS-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 onMotoramic put it, “It’s too bad for Romney that Al Gore invented the Internet so we could keep track of what actually happened.”
Read More: http://www.forbes.com/sites/michelinemaynard/2012/...
Top Opinion
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Ali ~ In My Heart I Trust ~ 2012/05/08 16:44:44You do realize the frontal lobe of the cerebral cortex allows us to store and...
http://www.youtube.com/watch?...
http://www.youtube.com/watch?...
You are proof that Reichties are NOT that intelligent.......
http://www.nytimes.com/2008/1...
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.
yes it is false.
All of this is past tense now. The bailout has been a success, and Romney had nothing to do with it. GM is back on top among auto makers, Chrysler is introducing interesting new products––thanks to Fiat, of course––and Ford is doing well, despite going it alone. All of them are in the black, Chrysler has repaid its loans, and GM has repaid about half of its loans.
None of this would have happened if they had followed Romney's advice, which revealed a shocking lack of knowledge of economic conditions at the time. He said they should file for bankruptcy and then seek private money. From his ivory tower, he apparently was unaware there was no private money available. Only the government could have bailed out the auto industry, and it did, saving 1.3 million jobs.
You can keep crying false until your face turns purple, but it won't change anything.
he was against any public funds being spent.
http://money.cnn.com/2012/05/...
"I'll take a lot of credit for the fact that this industry's come back," he told an Ohio television station Monday. "My own view is 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."
The claim in Ohio was Romney at his flip-flopping worst.
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.
exerpt from "let detroit go bankrupt"
"I pushed the idea of a managed bankrupt...
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.
exerpt from "let detroit go bankrupt"
"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," Romney said in an interview inside a Cleveland-area auto parts maker. "So, I'll take a lot of credit for the fact that this industry has come back."- what he said in ohio.
no flip flop. its the truth. he does get some credit.
Still with the sour grapes. The simple fact remains the auto industry bailout was successful. All three companies are still in business and are now profitable, Chrysler has repaid its loans and is introducing interesting new models, and GM is once again the top car maker, and has repaid most of its loans to the U.S. and Canadian governments. 1.3 million jobs were saved, and many small businesses were saved. Detroit is on its way back as a major city.
Try as they might, the GOP won't be able to spin this one into a perceived failure, and Mitt Romney will convince no one that he deserves credit.
Why do you keep supporting Romney in this or in any issue? He is a very poor candidate, and will be exposed as a charlatan in the debates with Barack Obama. This is only the latest in his myriad of gaffes.
http://www.blacklistednews.co...
This does not justify Romney trying to take credit for the auto bailout, which has saved more than 1.3 million jobs.
They should have been forced into a normal bankruptcy, and if they couldn't hack it on their own... shut down.
The other successful manufacturers would have expanded their operations and absorbed the displaced workers.
Chin's sales grew like crazy after the Bail-out and they passed the USA last year. That's pathetic.Why did GM invest $200 Million in an assembly plant in Mexico? We couldn't have used those jobs?
How 'bout the Chevy Spark which will be hitting dealerships in late 2012.
Shipped, fully assembled from Korea.
Now Romney is pretending he suggested exactly what happened, when the reverse is true. He was strongly opposed to any kind of government bailout.
What's your logic here? The President doesn't deserve credit for his fortitude to go through with a plan that all repugincans including Romney criticized him for actually WORKED, and now America have the #1 automobile dealer in the world because some America dealerships build cars overseas? By that same logic KIA just opened up a new plant in Georgia, who do you think that plant employs? AMERICANS!!! It's called GLOBALIZATION and it's been happening for quite some time. Face it, the President's plan worked, and it's the same old story it's been for decades. Republicans never take accountability and own their failures and try to take credit for the successes of others.
They have been doing that since the 1980's. Geez, that is when Ronnie Raygun was president......
Funny thing about technology today you can doctor anything to suit your needs...Especially if you have a agenda....
Btw, GM and Chrysler have paid their loans back......
You are nothing but a Mental Minion of the Reich just spewing propaganda....Why, because Romney doesn't want to run on his own record of being Governor of MA....A Quote: Liberal State.....
Why doesn't he not want to talk about that?????.....Hmmmm.....Haven't heard him yet!!!!
Watch the video.
http://www.blacklistednews.co...
They signed a memorandum of understanding with the city of Chongqing on Saturday.
Construction is to begin next year with engine production starting in 2013. The plant can make 400,000 engines annually; more than double the partnership's existing engine capacity in China.
The partnership operates two assembly plants in China, including one in Chongqing. It is building a third to produce the Ford Focus.
Dearborn, Mich.-based Ford is the 11th-ranked brand by sales in the Chinese market, but its sales have risen dramatically since it entered the country in 2003. Ford and its partners have sold 368,103 vehicles in China through August, an increase of 42 percent from a year ago.
Reichties are soooo hilarious....Where in the world have you been living for the last 50 yrs????.....Under a rock!...In a Rock!!.....
The parts for the American Made Cars have been made over seas since, oh, lord, ah, since at least the 1980's....Funny that is when Ronnie Raygun was president......
Now, you Reichties are just figuring that out.....
Oh, I forgot, its because you have no REAL Issues to talk about....Like what has Romney accomplished during his time of being Governor of MA....I notice how much he talks about that......
Note: to add to this, Chevy's were made in Canada back in the late 60's....My brother had a 68 Chevy Impala that had a small metal plate on the fire wall inside of the engine compartment that said body made in Canada......
So, I say again, where have you people been....Under a Rock???????...
"Treasonous. GM received billions in bailout money from US taxpayers and then 25 billion is used to move GM to Mexico, Brazil, China and Europe. We bail them out and then they use billions of our tax money to send the jobs out of the country. Pure treason"