Romney: Bankruptcy, not bailouts, saved Detroit - The Early Show
Republican presidential candidate Mitt Romney said Friday the turnaround by Chrysler and General Motors was thanks to their being taken into bankruptcy court, not the bailout dollars that were given the automakers by the Bush and Obama administrations.
The former Massachusetts governor had written in a November 2008 New York Times Op-ed titled “Let Detroit Go Bankrupt,” that automakers needed a managed bankruptcy, not a bailout check. “If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye,” he wrote.
If anyone still thinks that Republicans aren’t serious about their “defaulting will be good for us”, this is the final nail in the coffin of that hope.