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Romney takes credit for Success of Auto Bailout... Can we take anything he says seriously?

Met 2012/05/08 15:50:57
You do realize the frontal lobe of the cerebral cortex allows us to store and recall information right?
Romney deserves credit for Obama's accomplishments, and if we elect him, we'll be sure to give it to him.
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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.”

Read More: http://www.forbes.com/sites/michelinemaynard/2012/...

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  • Stoner Jeremiah 2012/05/09 01:47:37
  • Stoner Jeremiah 2012/05/09 01:48:16
  • painted... Jeremiah 2012/05/09 03:50:04
    painted desert
    +3
    Notice the name of the poster. That sums it all up. He lives in his own little weed patch smoke cloud.
  • Jeremiah painted... 2012/05/09 06:32:38
    Jeremiah
    +1
    That must be the reason. ;-)
  • C. C. R... painted... 2012/05/09 18:30:21
    C. C. Rider
    LOL for sure.
  • Whyputa... Stoner 2012/05/08 22:44:14
    Whyputaname
    +4
    Laughing Smiley Face


    You are proof that Reichties are NOT that intelligent.......
  • David Lindner 2012/05/08 21:34:22
    Romney deserves credit for Obama's accomplishments, and if we elect him, we'l...
    David Lindner
    considering that he urged obama in 2008 to do it, but let them file for bankruptcy first:

    http://www.nytimes.com/2008/1...
  • Jeremiah David L... 2012/05/08 22:25:41
    Jeremiah
    +5
    You need to read your own source.
  • David L... Jeremiah 2012/05/09 03:35:14
    David Lindner
    no my source backed my claim. he wanted them to file for bankruptcy first, then let the government bail them out.
  • Jeremiah David L... 2012/05/09 06:34:57
    Jeremiah
    +1
    No, he wanted bankruptcy to be followed by private financing. The trouble is, there was no private money available at the time, and nothing of that scope is available now.
  • David L... Jeremiah 2012/05/09 12:59:57
    David Lindner
    that is false, even in 2008 he wanted the government to provide funds after they filed for bankruptcy. read his economic journal on the WSJ from that time period.
  • Jeremiah David L... 2012/05/09 15:31:26
    Jeremiah
    No, it is not false. Read his op-ed in the NY Times.
  • David L... Jeremiah 2012/05/09 17:23:45
    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.


    yes it is false.
  • Jeremiah David L... 2012/05/09 18:18:11 (edited)
    Jeremiah
    We have discussed this before. The shareholders took an undeserved hit, but their stock was practically worthless when the CEO's came begging for a bailout.

    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.
  • Met David L... 2012/05/08 22:34:59
    Met
    +5
    Uhm... I think you misremembered. or misread.

    he was against any public funds being spent.
  • David L... Met 2012/05/09 03:39:39
    David Lindner
    thats also false:



    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."
  • Jeremiah David L... 2012/05/09 06:37:52
    Jeremiah
    The trouble is, that is not what he wrote in 2008. He was quite specific on private money being the answer. He was opposed to a public bailout, which was the industry's only hope for survival. There was no private money available.

    The claim in Ohio was Romney at his flip-flopping worst.
  • David L... Jeremiah 2012/05/09 13:02:49
    David Lindner
    It is not wrong to ask for government help, but the automakers should come up with a win-win proposition. I believe the federal government should invest substantially more in basic research — on new energy sources, fuel-economy technology, materials science and the like — that will ultimately benefit the automotive industry, along with many others. I believe Washington should raise energy research spending to $20 billion a year, from the $4 billion that is spent today. The research could be done at universities, at research labs and even through public-private collaboration. The federal government should also rectify the imbedded tax penalties that favor foreign carmakers.

    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...


    It is not wrong to ask for government help, but the automakers should come up with a win-win proposition. I believe the federal government should invest substantially more in basic research — on new energy sources, fuel-economy technology, materials science and the like — that will ultimately benefit the automotive industry, along with many others. I believe Washington should raise energy research spending to $20 billion a year, from the $4 billion that is spent today. The research could be done at universities, at research labs and even through public-private collaboration. The federal government should also rectify the imbedded tax penalties that favor foreign carmakers.

    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.
    (more)
  • Jeremiah David L... 2012/05/09 15:37:33
    Jeremiah
    It is unfortunate that the shareholders lost their money, but their stock was practically worthless by then.

    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.
  • David L... Jeremiah 2012/05/09 17:24:39
    David Lindner
    thats false considering there is documented evidence of him saying obama should let them go bankrupt, THEN help them. the only people who wont be convinced are the ones in denial
  • Jeremiah David L... 2012/05/09 18:24:27
    Jeremiah
    Once again I suggest you read his NY Times op-ed piece. He repeatedly stressed that private money would be the solution, apparently lacking the knowledge to know there was no private money available.

    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.
  • Schläue~© 2012/05/08 21:25:09 (edited)
    Romney deserves credit for Obama's accomplishments, and if we elect him, we'l...
    Schläue~©
  • Jeremiah Schläue~© 2012/05/08 22:24:15
    Jeremiah
    +3
    That doesn't make sense.
  • Schläue~© Jeremiah 2012/05/08 22:36:34
    Schläue~©
    +2
    Watch the video. From GM's CEO's very lips. 7 of every 10 GM automobiles are manufactured outside the US.
  • Jeremiah Schläue~© 2012/05/08 22:41:54 (edited)
    Jeremiah
    +3
    That is true with all the U.S. automakers, and most of the import brands. The last car I purchased was a Toyota, which I selected because I wanted an American-made car. It was made in Kentucky, while the Chrysler I was looking at was made in Mexico. We have NAFTA to thank for that.

    This does not justify Romney trying to take credit for the auto bailout, which has saved more than 1.3 million jobs.
  • Schläue~© Jeremiah 2012/05/08 22:58:40
    Schläue~©
    +3
    He's just pointing out that his idea was for them to go through a bankruptcy which is what happened in the end..... kinda. The unions made out like bandits and the everyday shareholders got hosed. So did 100 year old dealerships.

    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.
  • Jeremiah Schläue~© 2012/05/09 06:43:25
    Jeremiah
    You don't seem to understand. Romney wanted the auto industry to file bankruptcy and then be saved by private financing. Perhaps you don't remember there was no private money available at the time, and none of that scope available now. They would have gone out of business, taking more than 1.3 million jobs with them. According to economists, this would have have a severe effect on the entire auto industry.

    Now Romney is pretending he suggested exactly what happened, when the reverse is true. He was strongly opposed to any kind of government bailout.
  • Proggy Schläue~© 2012/05/09 08:45:40
    Proggy
    Dude, Romney wanted them to file bankruptcy and be saved by the private sector who was not touching it with a ten foot pole. Even Romney's old pals avoided it like the plague. Face it, Romney's plan would've been a colossal fail and would've spelled the end of the American automobile industry.

    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.
  • Whyputa... Schläue~© 2012/05/08 23:02:02
    Whyputaname
    +5
    They don't make the cars outside of the U.S. they make the parts outside of the U.S...

    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!!!!
  • Schläue~© Whyputa... 2012/05/08 23:10:58
    Schläue~©
    +1
    GM still owes $24Billion and their nstock would nave to complete sell out at twice what it's going for to break even..
    Watch the video.

    http://www.blacklistednews.co...
  • Jeremiah Schläue~© 2012/05/09 06:45:16
    Jeremiah
    "GM had already made several installments in paying back the $6.7 billion loan. On April 21, 2010, GM announced that it had paid back the entirety of the remaining $4.7 billion in loans from the U.S. government (and another $1.1 million to the Canadian government). GM had until 2015 to pay back those loans." –– Politifact
  • jeane Whyputa... 2012/05/09 03:36:38
    jeane
    +1
    Ford and Chinese partner, Changan Ford Mazda Automobile Ltd., plan to build a $500 million engine plant in China.

    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.
  • Whyputa... Schläue~© 2012/05/08 22:54:31 (edited)
    Whyputaname
    +3
    Laughing Smiley Face

    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.....
    Laughing Smiley Face

    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???????...
  • jeane Schläue~© 2012/05/09 03:34:14
    jeane
    +1
    "General Motors is becoming China Motors. Forget the spin. The evidence is clear and convincing. Did U.S. taxpayers save GM for China? Listen to the candid comments of GM's CEO."

    "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"
  • Proggy Schläue~© 2012/05/09 08:35:48
    Proggy
    Exactly, how does this give Romney credit for the auto industry loan he vehemently opposed and criticized the President for?
  • Proggy 2012/05/08 21:21:32 (edited)
    You do realize the frontal lobe of the cerebral cortex allows us to store and...
    Proggy
    +6
    This is further proof of what a charlatan and empty suit Romney is. He's an out right liar and is not to be trusted. If the American people know this, don't you think other world leaders whether friend or foe know this as well? Mitt Romney only get away with this kind of political tripe with the brain-dead knuckle-dragging troglodytes that make up the "hate anything Obama" crowd he pitches such rancid red meat to. Only a fool, tool, and total imbecile would even begin to buy this snake oil.
  • firebird 2012/05/08 21:14:05
    You do realize the frontal lobe of the cerebral cortex allows us to store and...
    firebird
    +1
    Complete BS ! another Liberal propaganda and smear tactic....... GET A LIFE !
  • Jeremiah firebird 2012/05/08 22:23:30
    Jeremiah
    +5
    How is it propaganda and how is it a smear tactic? Romney has said he thinks he should take credit for the auto bailout. Not much gray area there.
  • Proggy firebird 2012/05/09 08:17:22 (edited)
    Proggy
    Oh since you didn't hear it on FAUX news or read it on some right-wing lie-mill of a website it's "liberal propganda"? Dude the words came out of his mouth! The dumb asswipe is trying to take credit for the auto industry loan he vehemently opposed and criticized the President for. Since conservatives have no intelligence to be insulted he figure he can get away with it.

  • john Kills 2012/05/08 21:02:31
    You do realize the frontal lobe of the cerebral cortex allows us to store and...
    john Kills
    Dumney is more of the same crap we have now. This is why I'm voting for Paul.

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