Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsObama: Romney Wants To 'Etch A Sketch' His Auto Bailout Position
http://2012.talkingpointsmemo.com/2012/05/obama-romney-wants-to-etch-a-sketch-his-auto-bailout-position.phpPresident Obama mocked Mitt Romney on Wednesday for saying he deserves credit for Detroits resurgence despite, to this day, opposing the rescue package that experts and officials across party lines say was responsible.
I think this is one of his Etch-a-Sketch moments, a laughing Obama told ABC News in an interview that aired on Good Morning America Thursday. I dont think anybody takes that seriously. People remember his position, which was, Lets let Detroit go bankrupt. Had we followed his advice at that time, GM and Chrysler would have gone under and we would have lost a million jobs throughout the Midwest.
Romney told a Cleveland TV station this week that 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, and therefore Ill take a lot of credit for the fact that this industry has come back.
But it was a misleading claim that highlighted superficial differences between Romneys various stated positions and the Bush and Obama administrations actions, namely that the car companies ended up going through a managing bankruptcy, while ignoring the crucial ingredient that made it work and which he still says was a mistake: tens of billions of dollars in federal loans and guarantees. Republicans and Democrats who worked on the rescue insist that there were no private-sector loans available to keep the companies afloat through bankruptcy proceedings given the disastrous state of the finance industry at the time, which ended up requiring a much bigger bailout to prevent it from melting down.
I think this is one of his Etch-a-Sketch moments, a laughing Obama told ABC News in an interview that aired on Good Morning America Thursday. I dont think anybody takes that seriously. People remember his position, which was, Lets let Detroit go bankrupt. Had we followed his advice at that time, GM and Chrysler would have gone under and we would have lost a million jobs throughout the Midwest.
Romney told a Cleveland TV station this week that 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, and therefore Ill take a lot of credit for the fact that this industry has come back.
But it was a misleading claim that highlighted superficial differences between Romneys various stated positions and the Bush and Obama administrations actions, namely that the car companies ended up going through a managing bankruptcy, while ignoring the crucial ingredient that made it work and which he still says was a mistake: tens of billions of dollars in federal loans and guarantees. Republicans and Democrats who worked on the rescue insist that there were no private-sector loans available to keep the companies afloat through bankruptcy proceedings given the disastrous state of the finance industry at the time, which ended up requiring a much bigger bailout to prevent it from melting down.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
2 replies, 970 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (6)
ReplyReply to this post
2 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Obama: Romney Wants To 'Etch A Sketch' His Auto Bailout Position (Original Post)
boxman15
May 2012
OP
corkhead
(6,119 posts)1. When you are laughingly mocked by the sitting President, it can't be a good day for your campaign
SalviaBlue
(2,918 posts)2. The Rmoney campaign's Etch a Sketch comment is going to come back to
haunt them again and again (I hope).
Thanks John Fugelsang!!