The story is not done. Some 40 billion is still owed to the government. Romney is stupid to the tenth power for linking his Op Ed piece to policy that he's opposed all this time since. In an oblique way, however, Obama did something similar to what Romney suggested in that editorial of 2008, except for that Obama fluffed the unions and screwed several hundred family-owned, profitable dealerships that had been in business for generations. That, and drove the leverage to force the automakers to comply with ridiculous, new CAFE standards driving up the price of cars up several thousand dollars and making them less safe. Once again, government makes us settle for less while paying more. Typical.

Never mind that CAFE standards, enacted in the 70s, are actually obsolete in the face of today's driving habits. The entire premise of CAFE is, in fact, obsolete. And is it not interesting that the Obama administration is championing the resurgence of an industry that is at the same time, and by it's very own published opinion, destroying the environment?

And, back to the dealers who were shut down like speakeasies: what's a few entrepreneurs among cronies, anyway?

Romney was the smart one....call for structured bankruptcy before giving dumb loans..everyone(except Obama) knew GM going to need bankruptcy, could have saved billions

tsmith7559 said:

Romney was the smart one....call for structured bankruptcy before giving dumb loans..everyone(except Obama) knew GM going to need bankruptcy, could have saved billions

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thought you cry about jobs every week on here?...make up your mind.

mhughes0021 said:

thought you cry about jobs every week on here?...make up your mind.

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WTF? same outcome dumb dumb, just would have saved the country 10's of billions of dollars by doing it quicker. Barry has problems making decisions, it takes him awhile

LOL... the bailout worked, the auto companies returned to profitability, stability and jobs were preserved... but Obama should have done better.

and the guy who could've done better was the guy arguing it shouldn't be done in the first place?

michchamp said:

LOL... the bailout worked, the auto companies returned to profitability, stability and jobs were preserved... but Obama should have done better.

and the guy who could've done better was the guy arguing it shouldn't be done in the first place?

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the bailout worked???? you're retarded, they went bankrupt

michchamp said:

LOL... the bailout worked, the auto companies returned to profitability, stability and jobs were preserved... but Obama should have done better.

and the guy who could've done better was the guy arguing it shouldn't be done in the first place?

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I don't think the scenario has played out yet. Unless the government writes off the 40 billion it's still owed. Until we know how the CAFE standards will affect the market. Until after this pent-up demand for new vehicles passes.

byco42 said:

I don't think the scenario has played out yet. Unless the government writes off the 40 billion it's still owed. Until we know how the CAFE standards will affect the market. Until after this pent-up demand for new vehicles passes.

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alot of huge pick up trucks instead of ford focuses where i live. The market has changed and the brands that dont have a standard 40 mpg vehicle will struggle moving forward. Chrysler better work something into their 4 car portfolio they got going on right now lol. You guys are seriously worried about $40 billion?...that wouldnt put a dent in our debt and losing all those manufacturing jobs would have put us alot worse off.

Maybe he's the Brandon Inge of political debate?

mhughes0021 said:

alot of huge pick up trucks instead of ford focuses where i live. The market has changed and the brands that dont have a standard 40 mpg vehicle will struggle moving forward. Chrysler better work something into their 4 car portfolio they got going on right now lol. You guys are seriously worried about $40 billion?...that wouldnt put a dent in our debt and losing all those manufacturing jobs would have put us alot worse off.

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So the feds will write off $40B in loans and yet go after someone who owes them $4K in taxes. Predictable.

Romney said don't give them a bailout, it will be the end of them. He was wrong. Because of the bailouts GM and Chrysler were able to go through chapter 11 instead of chapter 7(liquidation) bankruptcy, there was no private money out there to prevent chapter 7 so Bush stepped in and Obama followed through. Romney wouldn't have done it, period.

Romney cannot hide from his words, he said the bailouts would kill the auto industry, he was dead wrong as usual.

johnny2x2x said:

Romney said don't give them a bailout, it will be the end of them. He was wrong. Because of the bailouts GM and Chrysler were able to go through chapter 11 instead of chapter 7(liquidation) bankruptcy, there was no private money out there to prevent chapter 7 so Bush stepped in and Obama followed through. Romney wouldn't have done it, period.

Romney cannot hide from his words, he said the bailouts would kill the auto industry, he was dead wrong as usual.

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apparently there are too many people on here that dont understand what we did with GM...we gave them a bailout...then they went bankrupt..understand?? Romney wanted the structure bankruptcy from the beginning which would have save billions....
bailout failed...bankruptcy gave them new life, understand?

tsmith7559 said:

apparently there are too many people on here that dont understand what we did with GM...we gave them a bailout...then they went bankrupt..understand?? Romney wanted the structure bankruptcy from the beginning which would have save billions....
bailout failed...bankruptcy gave them new life, understand?

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Without the bailout money GM's bankruptcy would not have helped them, it would have killed them.

They would have been forced to liquidate.

The anti-bailout people are assuming that there was money available in the private sector. There wasn't. Banks were not lending. So, GM and Chrysler had to have federal money or disappear.

There's nothing wrong with saying you were against the federal money and just say that the market will work. But, at least own it. Don't nibble around the edges now and say the money would have come in. Anyone with a clue knows that it would have been over for American car companies. Why don't conservatives own their core principles?

jimrice said:

The anti-bailout people are assuming that there was money available in the private sector. There wasn't. Banks were not lending. So, GM and Chrysler had to have federal money or disappear.

There's nothing wrong with saying you were against the federal money and just say that the market will work. But, at least own it. Don't nibble around the edges now and say the money would have come in. Anyone with a clue knows that it would have been over for American car companies. Why don't conservatives own their core principles?

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Oh, there was money. In China. But at least M&B09 might like these companies if they were foreign owned.

They just needed to go to bankruptcy sooner, at that point whatever capital was needed by the govt would have been paid, it was the loaning of money and letting GM bleed that wasnt real smart

MSNBC gives credit to Obama for Ford's success....oooppss, one problem...Ford didnt take a dime...egg on face Chris Mathews, I luv it
I was listening to him last night and I was thinking WTF...

http://www.realclearpolitics.com/vi..._bailed_out_ford_credits_him_for_success.html