Source:
Detroit NewsA conservative Republican slammed Mitt Romney — on a campaign swing Wednesday through his native Michigan — for not supporting the auto bailout.
Rep. Thaddeus McCotter, R-Livonia, who supported the government intervention for General Motors and Chrysler, met constituents and the media at E&E Manufacturing in Plymouth to blast Romney, and tried to link the Republican candidate to President Barack Obama.
"Motor City hospitality dictates a Michigan message to Mitt that our struggling families, entrepreneurs and workers think Mr. Romney and Mr. Obama are not rivals, they're running mates," McCotter, who is considering his own run for the White House, said in a statement.
In 2008, as GM and Chrysler, on the verge of collapse, asked the federal government for a bailout, Romney argued in a New York Timesop-ed piece headlined "Let Detroit go bankrupt" that any government intervention would hasten the decline of the industry as a whole. Read more:
http://www.detnews.com/article/20110609/POLITICS03/106090392/McCotter-bashes-Romney-for-anti-auto-sentiments
Nice! Retread Romney is even getting bashed by Republicans for his flip flopping on the auto industry bailout. While Romney tries to claim that the Obama administration did what he suggested (bankruptcy), he ignores that he was proposing that we let the companies go into bankruptcy AND GET LIQUIDATED to satisfy creditors, rather than bailed out so that they could continue to operate as going concerns.
What if GM and Chrystler bond holders were allowed to insist on liquidation without any promise of federal assistance? That's right, we would have no auto industry thanks to would-be President Romney. Worse, under Romney's world, auto industry unions would have come out of such a bankruptcy with nothing.
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