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Report: Romney claims credit for auto industry recovery, still opposes bailout (Autoblog)

Filed under: Etc., Government/Legal, Celebrities _The Detroit __News_ reports presidential hopeful Mitt Romney believes he deserves credit for the auto industry's recovery, despite the fact that he adamantly opposes the bailout. While speaking with a Cleveland, Ohio television station, Romney said he deserves "a lot of credit" because he supported the idea of managed bankruptcy. But both President George W. Bush and President Barack Obama believed General Motors and Chrysler couldn't survive the process without backing from the United States Treasury. Meanwhile, in a 2008 opinion article for _The New York Times_, Romney warned the bailout would mean the end of the American automotive industry, saying "It won't go overnight, but its demise will be virtually guaranteed." Through the lens of hindsight, we know that statement was a bit exaggerated. Both Chrysler and GM are on the right path, with the companies posting profits in North America. _The Detroit News _reports the auto bailout is an important topic in two crucial swing states: Ohio and Michigan. Romney claims credit for auto industry recovery, still opposes bailout originally appeared on Autoblog on Tue, 08 May 2012 11:29:00 EST. Please see our terms for use of feeds. ###### Permalink | Email ...

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