"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," Romney said.
Consider that Pontiac, Saturn, and Hummer divisions were shut down as well as dealerships. The owners of Chrysler bonds, who had invested in Chrysler, were also punished. This auto company bailouts might have been a page out of the Bain Capital play book except that the UAW was protected for Chrysler and remaining GM divisions. Selling Chrysler to a foreign company temporarily protected American jobs depending on the good will of its foreign owners.
In corporatist Amerika, it makes little difference to Saturn workers or Goldman Sachs executives whether Obama or Romney is President. Romney parks some of his money in Swiss banks while one of Obama's biggest contributors is Credit Suisse, a huge Swiss banks which also is generous with Romney. It is ironic that Obama's campaign money might include money Romney is allowed to shelter overseas.
More good new$ for President Obama. On top of the $100M war chest advantage Obama already has over Romney,George Soros and Other Rich Guys to Infuse
Democrats With $100 Million for Grassroots Efforts
Bookmarks