Mitt Romney: 'I'll Take A Lot Of Credit' For Auto Industry Recovery

[rdean]

I suddenly realized these right wingers don't understand the fundamental difference between Obama and Romney on saving the auto industries. It's really quite simple. When the loans to the auto industries happened, the private market was NOT lending. There was no money available. EVEN BAIN CAPITAL, that company that love bankruptcy wouldn't invest in Detroit. This is why Mitt only makes these outrageous statements when he's not actually IN Detroit. They know what happened.

 

[Lakhota]

Romney is not a moral man. No moral man would lie like he does. NO ONE was willing to put up the capital to save the automakers, including Bain Capital - EXCEPT President Obama with taxpayer funds.

All politicians exaggerate, but Mitt Romney is a chronic LIAR.

Mitt Romney's Big Promises - and Bigger Lies | Crooks and Liars

Chronicling Mitt Romney's Lies on the Campaign Trail | Video Cafe

Daily Kos: Mitt Romney lies, media continues to ignore it

Cataloging Mitt Romney’s Lies, Does it Matter to You?

Mitt Romney's Martin Luther King problem: Will the candidate's MLK tall tales come back to haunt him?

 

[Quantum Windbag]

I suddenly realized these right wingers don't understand the fundamental difference between Obama and Romney on saving the auto industries. It's really quite simple. When the loans to the auto industries happened, the private market was NOT lending. There was no money available. EVEN BAIN CAPITAL, that company that love bankruptcy wouldn't invest in Detroit. This is why Mitt only makes these outrageous statements when he's not actually IN Detroit. They know what happened.

Umm, what?

 

[Quantum Windbag]

General Motors: Government Motors no more | The Economist

An apology is due to Barack Obama

Given the panic that gripped private purse-strings last year, it is more likely that GM would have been liquidated, sending a cascade of destruction through the supply chain on which its rivals, too, depended. As for moral hazard, the expectation of future bail-outs may prompt managers and unions in other industries to behave rashly. But all the stakeholders suffered during GM’s bankruptcy, so this effect may be small.

-------------------------------------

Not even Bain Capital would have invested. That means they believe Romney was wrong.

It is amazing how people are so sure about what would have happened in alternate history timelines.

 

[Vidi]

General Motors: Government Motors no more | The Economist

An apology is due to Barack Obama

Given the panic that gripped private purse-strings last year, it is more likely that GM would have been liquidated, sending a cascade of destruction through the supply chain on which its rivals, too, depended. As for moral hazard, the expectation of future bail-outs may prompt managers and unions in other industries to behave rashly. But all the stakeholders suffered during GM’s bankruptcy, so this effect may be small.

-------------------------------------

Not even Bain Capital would have invested. That means they believe Romney was wrong.

It is amazing how people are so sure about what would have happened in alternate history timelines.

While I dont for a second believe that everyone posting the alternate timeline scenarios are aware of it, if you want to see what would have happened if GM went under, take a look at what happened in St Louis, Mo. after McDonnel-Douglas folded.

The alternate timeline secnarios would be considered fairly accurate, if one looks at what has happened in the past.

 

[HUGGY]

Mormans are crazy. He probably believes everything he is saying. Do we really want someone this out of touch with reality in the white house?

 

[Lakhota]

 

[NYcarbineer]

1. Romney's comments mean he is tacitly, albeit certainly grudgingly, acknowledging the remarkable success of the auto bailout,

why else would he try to claim credit for it?

2. The outright lie by Romney is simply a hail mary desperation attempt to so muddy the waters around the issue that people - hopefully from the Romney viewpoint - get annoyed and confused and simply tune it out.

That won't work where it matters - in Michigan, Ohio, Pennsylvania - because those people are close enough to the real life benefits of the bailout not to be fooled.

 

[NYcarbineer]

Mormans are crazy. He probably believes everything he is saying. Do we really want someone this out of touch with reality in the white house?

What you have to believe to become a Mormon in the first place by definition makes you delusional.

Mormonism took Christianity, which itself has a pretty high degree of difficulty in the believability department,

and added about 10 more layers of crazy to it.

 

[BDBoop]

He honest to God might take a beating for not being 'conservative enough.'

These people are whack.

"We have a responsibility if we want to keep God as Lord in America to go to the polls and do that dirty word: vote," said speaker Frank Lay, a retired principal.

"That dirty word?" Seriously. Wow.

Well. It is Florida ...

Enthusiasm For Romney Runs Low In Fla. Panhandle : NPR

Romney's Mormon faith has been a sticking point for some evangelical voters, but Holley says not for her.

Not for Lonnie Hawkins, either. He's an accountant in the Pensacola public defenders' office. Hawkins still prefers Gingrich, but he says he has no choice but to vote for Romney. He believes, incorrectly, that President Obama is Muslim.

"Would you prefer a Mormon or a Muslim?" he says. "You've got two M's to choose from."

Hawkins says the specter of another Obama administration should pull reluctant conservatives behind Romney.

 

[Lakhota]

Proof #7 - Understanding religious delusion

 

[oreo]

You go with that, Mitt

Mitt Romney: 'I'll Take A Lot Of Credit' For Auto Industry Recovery

Despite his 2008 call to "let Detroit go bankrupt," presumptive Republican presidential nominee Mitt Romney said Monday that he would "take a lot of credit" for his impact on the U.S. automobile industry's comeback.

During an interview with WEWS-TV in Cleveland following a campaign stop, Romney said his views helped save the industry.

"I pushed the idea of a managed bankruptcy," Romney said. "And finally, when that was done, and help was given, the companies got back on their feet. So I'll take a lot of credit for the fact that this industry's come back."

Romney's stance on the bailouts and his infamous 2008 New York Times op-ed "Let Detroit Go Bankrupt," have come up throughout the campaign, especially ahead of February's primary in Michigan. In that editorial, Romney argued that a government bailout for ailing auto giants Chrysler and General Motors would do more harm than good.

Here is the "miraculous" news on the Auto industry turn-around--- It had nothing to do with Obama throwing a few billion in tax payer dollars at it--yet he is claiming it did.

As the 2012 election season turns full throttle, the president and members of his administration are pointing to their only economic success story -- the government's investment in an ailing, failing auto industry and the subsequent revival of the nation's manufacturing base.

Vice President Biden recently stated on a campaign stop that "Osama bin Laden is dead and GM is alive."

But let's put this presidential campaign victory tour into perspective. The president and even the media fail to acknowledge a critical fact, that the initial decision to help the automobile industry began with the Bush administration. This recovery plan was set in motion under a Republican administration, approved with votes in Congress from both parties, and was then continued by President Obama.

It's odd how this president and the press are so anxious and willing to blame former President George W. Bush for a failing economy and soaring national debt, yet the president's primary example of a GM turnaround began under the Bush watch. Apparently the president wants it both ways. In reality, this auto industry recovery is an example of both parties working together to help save a national treasure in our auto industry and preserve jobs in industries that depend on auto manufacturing.

I wrote some time ago that conservatives, myself among them, were certainly justified in opposing government involvement and partial ownership of a private company such as General Motors. Generally, when the government gets its fingers into private industry, problems only get worse. But since the decision was made to invest tax dollars in GM and Chrysler, let's look under the hood of GM to examine how and why this company is making a comeback. When you check the facts, you quickly understand how GM's accomplishments have nothing to do with this president and everything to do with restoring sound business practices that are rooted in conservative free-market principles -- something you'll never hear Obama, Biden or the media talk about.

The old days of GM building poor-quality vehicles that no one wanted to buy are over. The company finished 2011 by increasing U.S. sales by 14 percent versus 11 percent for the entire auto industry. GM's market share increased to 19 percent, the first share increase for the company since 2002. All four GM brands increased their total sales and posted double-digit gains in retail sales. Since the bailout, GM has racked up a remarkable seven consecutive quarters of profitability. How?

Not due to any help from the Obama administration-aka taxpayer bailouts.. New management at GM has made it clear that politicians will stay out of the car business. GM renegotiated its deal with labor to bring employee salaries in line with its competitors. This new labor agreement with the United Auto Workers union maintains a low, break-even level and gives employees a direct stake in company's performance. If the company doesn't do well, people don't make as much! Gone are automatic, built-in incentives for employees or overly generous retirement packages.

Ken Blackwell: Auto Industry Turn-Around Is a Two-Party Success

The Auto Industry--cut UNION benefits to achieve healthier profits. It's the same thing that happened with this current economic collapse. Corporations laying off thousands of people--actually show a profit on their quarterly's--because the EXPENSE of labor has been cut. Furthermore with benefit packages being cut they could eliminate that prior $1600.00 in price to cover retirees benefit packages--making their cars more attractive and competitive with foreign auto makers. It had absolutely nothing to do with throwing a few billion in taxpayer dollars at the auto unions.

 

[Lakhota]

Ken Blackwell is a partisan hack with a wingnut record. Remember Kerry Won Ohio...?

http://www.assassinationscience.com/Kerry_Won_Ohio.pdf

 

[Lakhota]

UnNews:Mitt Romney tired of flip-flopping accusations; decides to undergo brain surgery to forget last 15 years - Uncyclopedia, the content-free encyclopedia

 

[zonly1]

UnNews:Mitt Romney tired of flip-flopping accusations; decides to undergo brain surgery to forget last 15 years - Uncyclopedia, the content-free encyclopedia

wouldn't be any different but a much clearer picture with barry soetoro as the centerpiece mug shot...carry on pavlov

 

[JoeB131]

The horrifying thing is that he thinks he can get away with it.

Let's review, shall we?

In Jan 2008, Romney was desperate. He just sank tens of millions into Iowa and New Hampshire and came up empty. So he needed a win in Michigan's illegal early primary. He promised up and down he would do whatever was necessary to save the Auto Industry.

Then Obama wins, and has to actually bail out the Auto Industry, and there's Mitt saying "Let them Eat Bankruptcy".

In short, use bankruptcy to screw the workers out of their wages and pensions.

And because the Bankruptcy was Obama's idea, he was totally against it when throwing read meat to the far right.

Now he's trying to "Pivot" to the center, and trying to take credit for the hard decisions others had to make.

Seriously, what a scumbag.

 

[LoneLaugher]

bump

 

[BDBoop]

The horrifying thing is that he thinks he can get away with it.

Let's review, shall we?

In Jan 2008, Romney was desperate. He just sank tens of millions into Iowa and New Hampshire and came up empty. So he needed a win in Michigan's illegal early primary. He promised up and down he would do whatever was necessary to save the Auto Industry.

Then Obama wins, and has to actually bail out the Auto Industry, and there's Mitt saying "Let them Eat Bankruptcy".

In short, use bankruptcy to screw the workers out of their wages and pensions.

And because the Bankruptcy was Obama's idea, he was totally against it when throwing read meat to the far right.

Now he's trying to "Pivot" to the center, and trying to take credit for the hard decisions others had to make.

Seriously, what a scumbag.

Exactly. But the right will forgive him anything because - well, let's face it: They're the right.

 

[LogikAndReazon]

Black liberation theology is superior to Mormonism....................lol

 

[Katzndogz]

What Romney said initially is that GM should be forced into a managed bankruptcy and they were, just as he said. obama departed from the Romney plan by bailing out the union legacy costs and shifting all losses onto the shareholders.

Had Romney been president instead of obama, the GM bankruptcy would have gone along like the Christler bankruptcy when it was managed by Lee Iacocca years ago.