Did Obama saved auto industry for the U.S.?

[foxfan]

All those who credit Obama for saving the auto industry, and bash Romney for out-
sourcing jobs should view 'General Motors is becoming China Motors' on YouTube.
(I couldn't post the URL because I haven't made 15 Posts).

 

[PredFan]

No.

If GM had been allowed to go into Chapter 11, they would have been protected from their creditors and been allowed to re-negotiate their contracts, including the union contracts. The United Auto Workers could not allow this to happen. Obama, whom they supported in 2008, paid them back by buying GM stock with taxpayer money, thus keeping GM afloat so they couldn't file for Chapter 11.

Truth is, Obama saved the United Auto Worker's Union, and stuck the taxpayers with the bill.

 

[007]

All those who credit Obama for saving the auto industry, and bash Romney for out-
sourcing jobs should view 'General Motors is becoming China Motors' on YouTube.
(I couldn't post the URL because I haven't made 15 Posts).

I'll do it for you...

[ame=http://www.youtube.com/watch?v=Lvl5Gan69Wo]General Motors is becoming China Motors - YouTube[/ame]