Romney Takes Credit for the Auto Bailout

[d-ray657]

Originally Posted by whell

I'll call it: "meeting alleged hypocrisy (Romney) with actual hypocrisy (Obama)."

How about hopeless partisanship? (In the interest of legitimate discussion, I described the conduct rather than engaging in name-calling - like "partisan hack." )

Regards,

D-Ray

[bobabode]

Originally Posted by d-ray657

How about hopeless partisanship? (In the interest of legitimate discussion, I described the conduct rather than engaging in name-calling - like "partisan hack." )

Regards,

D-Ray

It's the new dance. Spin-pivot-flip-flop-do see do.

[finnbow]

Originally Posted by whell

What I think is hilarious is that Obama flogs private equity firms and banks for political points, but had to turn to Steve Rattner, a product of those firms that he and the OWS crowd love to demonize, to manage the auto industry bankruptcy process. Then Obama wants to take full credit for it. Color me amused over that bit of hypocrisy.

Isn't this thread about Romney taking credit for it?

[whell]

Originally Posted by finnbow

Isn't this thread about Romney taking credit for it?

It's about politics and politicians. They want to take credit when things go right, and deflect when the poop hits the fan. Romney wants to position himself as being on the right side of the auto bail out while on his way to campaign in Michigan. Obama and company get pissed cuz they took the credit for it already. Whoopee.

They both wanna take credit for it? Great. Take it. It was a bonehead move that so far has taxpayers on the hook for over $20 billion and counting.

[d-ray657]

Originally Posted by whell

It's about politics and politicians. They want to take credit when things go right, and deflect when the poop hits the fan. Romney wants to position himself as being on the right side of the auto bail out while on his way to campaign in Michigan. Obama and company get pissed cuz they took the credit for it already. Whoopee.

They both wanna take credit for it? Great. Take it. It was a bonehead move that so far has taxpayers on the hook for over $20 billion and counting.

I assume that in that inflated figure, you're not accounting for the additional tax revenue that is derived from thousands and thousands of workers in decent paying jobs, and thousands and thousands fewer needing unemployment benefits and other social services.

Regards,

D-Ray

[whell]

Originally Posted by d-ray657

I assume that in that inflated figure, you're not accounting for the additional tax revenue that is derived from thousands and thousands of workers in decent paying jobs, and thousands and thousands fewer needing unemployment benefits and other social services.

Regards,

D-Ray

It ain't inflated. That's just the estimate for GM. A host of other companies got bailed out too, but that's another story.

The talk track on the auto bailouts has always been that if the government hadn't stepped in, all those workers would be unemployed. That's sophistry.

The demand for cars would not have gone away. GM's manufacturing capacity and cuurent sales would likely have allowed it to sustain operations - albeit at a reduced level - while it shed costs and debt in a traditional bankruptcy. Even with government intervention, the workforce was still reduced. That would likely have happened in a traditional bankruptcy. Pension and labor costs might have been reduced more effectively in a traditional bankruptcy as well. It also might have given GM greater flexibility to shift labor and productive capacity to plants that were producing product that was in higher demand.


I guess we'll never know, though...

[finnbow]

Originally Posted by whell

It's about politics and politicians. They want to take credit when things go right, and deflect when the poop hits the fan. Romney wants to position himself as being on the right side of the auto bail out while on his way to campaign in Michigan. Obama and company get pissed cuz they took the credit for it already. Whoopee.

However, Obama can justly claim some credit. He was, after all, President at the time and directly involved with the decision-making that led to where we are today (i.e., GM and Chrysler alive).

Romney had no role whatsoever in it. He was neither on Obama's team, nor on the Congressional Republican team opposing it. He was irrelevant on this issue. Period.

[BlueStreak]

Originally Posted by whell

It's about politics and politicians. They want to take credit when things go right, and deflect when the poop hits the fan. Romney wants to position himself as being on the right side of the auto bail out while on his way to campaign in Michigan. Obama and company get pissed cuz they took the credit for it already. Whoopee.

They both wanna take credit for it? Great. Take it. It was a bonehead move that so far has taxpayers on the hook for over $20 billion and counting.

The difference is that the Obama team deserves some credit. Romney had nothing to do with it. He's full of shit, as usual. Stealing credit for other peoples work is, most likely, a skill he picked up in the corporate world. We've all seen that crap in our careers, many a time.

[BlueStreak]

Originally Posted by BlueStreak

What an absolute joke. Does anyone here think the American auto industry would be where it is today if the right had their way three years ago?

Please.

Originally Posted by wgrr

I am so glad mittens wrote an oped in the NY Times that single handedly saved the auto industry.

The only problem with his plan was it relied on private sector money. You want to tell me who would have provided the capital for the structured bankruptcy. No one was loaning money, in the private sector, at the time.

Originally Posted by BlueStreak

The difference is that the Obama team deserves some credit. Romney had nothing to do with it. He's full of shit, as usual. Stealing credit for other peoples work is, most likely, a skill he picked up in the corporate world. We've all seen that crap in our careers, many a time.

Hello!

Dave

[BlueStreak]

What an absolute joke. Does anyone here think the American auto industry would be where it is today if the right had their way three years ago?

Please.