If you had to decide to keep millions employed, and keep a important skill-set industry vital;
Or let an entire industry Go Bankrupt, sold off for parts to pay the bank-rollers,
-- Which would you choose?
Romney made his choice then. So it's all Romney CYA now ...
Romney swings at Obama's auto bailout, hits himself
by Jon Healey, LATimes.com -- Oct 30, 2012
[...]
The difference between the two approaches is that Obama was willing to provide the loans necessary to keep GM and Chrysler operating as they went through bankruptcy. The most Romney would have done was provide guarantees for private-sector loans, on the quixotic belief that such guarantees would entice banks to step in with billions of dollars in otherwise high-risk loans at the height of the credit crunch.Direct loans were the only sure way to keep the companies going, and judging by an op-ed Romney wrote for the Detroit News in February, that route simply wasn't acceptable to him.
[...]Naturally, Romney's ad doesn't stop there. It goes on to claim that the administration "sold Chrysler to Italians who are going to build Jeeps in China." Although Italian automaker Fiat did buy Chrysler (as well as the federal government's stake in the company), the claim about China is "simply not true," according to FactCheck.org, citing a statement by Chrysler. The company says it's exploring ways to increase production of Jeeps in China and "has no intention of shifting production of its Jeep models out of North America."
[...]
Which method of bankruptcy do you think a billionaire Corporate Raider would prefer?
One that protects Jobs and their Workplace... or one that protects Wall Street Investors?
The President made his choice too. He chose the Workers.
Mitt Romney not so much. He chose his Bank Account.