The inter webs sucks for Obama.

He to.d people to "look it up".

They did. In droves.

Found out Obama lied.

Just one of a long list of things that should be "Haunting" Romney.

Romney can drown in his own mucous as far as people here are concerned. I am one of the survivors of the Chrysler loan.

Obama saved my job, my town, my industry and likely the U.S. economy.

Romney proposed doing what he does best: destroying companies for his own profit. He always has. These emotionally bankrupt class of people exploit pain for gain. Like Spanky does. Other people have to work for a living to feed these parasites.

Half of America wants this opportunistic predator for their President?

How bout if he siphons the economic life blood out of you? Will that convince you at last that this trickle down s^%t is a fraud? What will it take to wake you people up?

America is on the verge of plutocratic fascism here.

OBAMA / BIDEN next month

So glad Romney spoke his heart when he said "Let Detroit go bankrupt".....shows he has no soul when it comes to the middle class! Please Ohio, vote for the leaders that would never let the working man down.

Obama/Biden 2012

Romney wanted private banks to save Detroit with government guarantees at a time when private banks had no money. If Obama had not taken action, the US car industry would have been f*cked.

Don't fall for another Romney lie.

O and Joe 2012!!

VOTE!!! I did today and it feels so good!

Yeah I looked it up. Seemed Mittens called for a leaner restructuring so that all pensions would be wiped. 'And then he states that Obama's action caused non-union members to have part of their pension cut when Obama had no control over that.

Can't have it both ways - Mittens complaining that Obama caused some folks to lose part of their pensions when he would have cut all pensions in the leaner restructuring. Smile and wave boys.

By criticizing auto bailout, Mitt put his 'FOOT in the Mouth'..

and by outsourcing jobs overseas, Mitt has been a American job destroyer, instead of a job creator.

.

Mitt can flip-flop and say he is now for auto bailout. How can we trust this flip-flopper?

the SS Romney has hit an iceberg named Murdoch. He's taking on water and going down.

Now hear this! Now hear this!

If you're an AMERICAN AUTO WORKER

or a COLLEGE STUDENT

or a SENIOR CITIZEN or a FLORIDA or an OHIO RETIREE

or the

MEDICALLY UNINSURED

or the

PARENT of a SICK CHILD

or any

WOMAN who has ever RELIED on PLANNED PARENTHOOD

or any

AMERICAN who RELIES on MEDICARE

you'd be INSANE and CRAZY to Vote for the LIAR, TAX-CHEAT and PENSION FUND THIEF

the cowardly MITT ROMNEY

and his hideous and horroric GANG of DICK (Darth Vader) CHENEY, the "little turd" KARL ROVE, the Teabagging GROVER NORQIST, RUSH LIMBAUGH, SEAN HANNITY, and that weirdo ANN (the Man?) COULTER.

Can't we PLEASE send all those CREEPS

"BACK to the POLITICAL DUNG HEAP of HISTORY" where they and the rest of the TEA BAGGERS belong.

ALL you INDEPENDENTS and UNDECIDED VOTERS and all your RETIREES from FLORIDA and OHIO,

don't Forget to Vote a straight DEMOCRATIC ticket, so we can FINALLY send these CREEPS

"BACK to that POLITICAL DUNG HEAP of HISTORY", where they all belong to begin with.

It will be Fun, and it's the Right thing to do.

Don't forget: VOTE.

hokey-dokey?

ps. Is this a Great post, or what?

Tony, you may want to check that spelling if you want anyone to know what you are talking about. It's Mourdoch.

I’m no Nostradamus but if Romney and Ryan are elected you will hear the resounding snapping of suitcases as the forward looking brightest young Americans start to emigrate to foreign countries where
individual rights and opportunity are important to them. The formerly conservative GOP will be taken
over by the Tea Party and individual rights will be relegated to the trash bin of history. I’m referring to pro-choice, gay rights and your right to vote. It has already been shown how Republican Governors and their kindred legislators have tried to legislate voter suppression. Romney has stated that he will do away with so many entitlements on his first day in office he just might have to miss the inauguration ceremony.

Just a note for young folks who have student loans outstanding: you may want to get your passports immediately because the Republicans might enact a law stating that anyone with a student loan outstanding may not be able to leave the country for fear they will default on those loans and never come back.

Romney has said that he will do away with the Dept. of Education which will mean we will be spending less and less money on meaningful science and math and more and more on creationism and intelligent
design. Dumbing down the citizenry will make for a more ignorant and less inquisitive population who will be happy with subsistent wages.

The war-hawkish GOP will increase military spending to the point that we may end up having to put our military forces to use somewhere to show how committed we are to “world peace” (remember Grenada). Romney has already stated that he will not allow Iran to develop a nuclear weapon, implying that we will go to war to safeguard Israel’s security. Israel already has enough nuclear weapons to wipe every city in Iran off the map with enough bombs left over to do the same to other countries that may want to join in. Iran already knows this and is just doing some blustering. The sanctions we have put in place are already working. But the chickenhawks will persist and our young soldiers will perish as they did under
the Bush/Cheney wars.

My real concern is for my progeny. I’ll soon become an octogenarian and I’m afraid that the country under Romney and the Tea Party will enact so many restrictive laws concerning individual rights that we may be trending toward a fascistic government with fundamentalist laws similar to Sharia law.

With the GOPTP in control I can see my Social Security account being privatized and with Dodd-Frank repealed another Wall Street meltdown will leave me and many like me impoverished and without
affordable healthcare.

The Supreme Court is already pro-conservative and future justices will be selected for their pro-conservative views. Voter suppression will reach a stage where many voters will be disenfranchised which
will enable the GOP to rule long into the future until the people riot, which will be quickly quelled by riot squads and our own military forces. If you think that the Supreme Court cannot affect the future of our country just think of the Citizens United case which has allowed unlimited corporate funds to affect our campaigns. You younger folks might want to also see the movie Judgment at Nuremberg which showed very clearly how the highest tribunals of Germany allowed Hitler’s Enabling Act to take effect so he could control the government with his fascist Nazism.

Lying to enhance the Mormon faith is a commandment for the Mormons and Romney is being true to his faith. Even the author of “The Real Romney: admits that Romney will lie if it suited his business plan.

If Romney does win the election then Obama in his concession speech might finish by appropriately saying, “God HELP the United States” because we will need all the help we can get.

Is that all you got, ttth? Everyone, including you, knows who I'm talking about, db.

You're right. You are no Nostradamus.

Mitt wanted to ‘let Detroit go bankrupt'?

...can you believe this ungrateful vulture...Michigan is where he grew up, but he wanted to ‘let Detroit go bankrupt.’ then publish a book about this - titled No Apology.

....

Mitt has no credibility whatsoever.

....

4 more years...

Isn't it amazing that Obama takes credit for Bush's activities when it was Bush who first bailed out the Auto industry and Obama simply gave them mpre money later continuing Bush's bailout.

You see it was Bush who first bailed out the Auto industry initially and later Obama just continued Bush's policy.

http://www.politico.com/news/stories/1208/16740.html

Bush announces $17.4 billion auto bailout

President George W. Bush stepped in Friday to keep America's auto industry afloat, announcing a $17.4 billion bailout for GM and Chrysler, with the terms of the loans requiring that the firms radically restructure and show they can become profitable soon.

http://www.msnbc.msn.com/id/28311743/ns/business-autos/t/billion-auto-bailout-has-strings-attached/#.UIoGuWc_L2Q

WASHINGTON — Ailing U.S. automakers and their workers accepted huge concessions Friday, potentially including a partial nationalization, in return for a $17.4 billion federal rescue package meant to buy them time to survive.

President George W. Bush outlined a plan that would hand $13.4 billion this month and next to General Motors Corp. and Chrysler LLC. Both companies have said they soon might be unable to pay their bills without federal help.

GM would get $9.4 billion and Chrysler $4 billion. Ford Motor Co. has said it does not need immediate help.

An additional $4 billion could be available in February, but that is contingent on whether Congress approves a request made by Treasury Secretary Henry Paulson Friday for the $350 billion second half of the financial bailout fund. Tapping the fund for the auto industry basically exhausts the first half of the $700 billion total, he said.

President-elect Barack Obama, who takes office on Jan. 20, warned the auto industry that Americans did not have infinite patience.

http://online.wsj.com/article/SB122969367595121563.html

WASHINGTON -- The Bush administration said it would lend $17.4 billion to General Motors Corp. and Chrysler LLC, buying them a few weeks of financial relief but leaving the biggest decisions about the industry's future to President-elect Barack Obama.

Under the White House plan, the companies are required to extract enough financial concessions from workers, suppliers, dealers and other stakeholders to demonstrate their long-term viability by the end of March.

An enlightened statesman would love to see the middle class grow to increase tax base - thus government can always have more revenue for whatever legitimate purposes. But Mitt wanted to 'let Detroit go bankrupt,' to destroy the Middle Class, and take their money into his own pocket - or Swiss account instead of investing it here to create jobs to bolster GOP claim of trickle-down. When the middle class gets poorer, can't afford child care, Mitt has also taken away their default baby-sitter - the lovely Big Bird which was eaten alive by Mitt the predatory Vulture.

"I saw a story today that one of the great manufacturers of this state, Jeep, now owned by the Italians, is thinking of moving all production to China. "

'U.S. Jeep assembly lines will continue to stay in operation,” Gualberto Ranieri, a spokesman for Chrysler said in the statement posted on the automakers' blog."

Romney has no shame, he'll lie about anything and everything to get elected.

Turn this pos away in November.

From the article above . . . .

DEFIANCE, Ohio – Under the bright lights of a high school football field here in Northwest Ohio,

We middle class people LOVE our football, from the high school games, to college on Saturdays, to our NFL teams on Sundays.

We take pride in our teams, Whatever level they are. Under the bright lights, things ring true and clear. Romney may be a good very good man but under the lights, he's confused and fumbles. His team is the one that we root for year to year but know they will never, ever win. The President .... doesn't matter the team. He has all of us Friday, Saturday, and Sunday football lovers at heart. He has our backs. He supports the Middle Class and now, when he has his second term, he can be the QB with a lazy front line of Congress.

Congress, I so hope you put your game shirts on. The President is coming after you. He doesn't need to campaign after his election. You little red shirts need to step up to the plate.

Three claps .. I am ready for my President to engage in the game again and kick the trash out of the GOP!

http://www.youtube.com/watch?v=AlXDo5WhQXI

Obama/Biden 2012

Matt

Romney advocated federal loan guarentees just like in the 70's when Chrysler was bankrupt. The complete story of Obama's bailout is not available yet. GM is struggling and may have to enter bankruptcy court in 2013 or 2014.

The point of bankrucy is to be reorganized to be profitable. Obama's plan included building and selling cars that the public does not want in sufficient numbers to make a profit.

Government Motors IS A HORROR STORY:

1. The American taxpayers still own about 28% of GM stock.
2. The Secretary of the Treasury indicated recently that $ 25,000,000,000 still owed to the American taxpayers will be LOST.
3. However, that didn't stop GM from giving out bonuses to their UNION WORKERS. A UAW official told members that eligible members of unions representing General Motors would be receiving a $1,000 bonus (reported 6 June 2012).
4. GM currently is mired in pension/health care debt at the tune of $ 134,000,000,000 to Union retirees and is trying to "offset" the debt by giving retiring Union workers LUMP SUM offers. Sort of sounds like UPS.
5. Meanwhile, the Secretary of the Treasury was instrumental in TERMINATING about 20,000 NON-Union Delphi employee's pensions.
6. Recent profits have fallen 41% because of "slow" European sales.
7. GM recently reported they LOSE ABOUT $ 39,000 for EVERY VOLT SOLD.

Yep, Mr. Obama saved the auto industry.

Just wait.....GM is going to ASK FOR ANOTHER BAILOUT. Guess they will wait until AFTER THE PRESIDENTIAL ELECTION......just like everything else this administration is putting on the back burner.

BTW: Mr. Obama "asked" Chrysler's CEO to submit his resignation.

Yep, the President "asking" a private company's CEO to quit.

Watch out CEOs, YOU MAY BE NEXT......wait a minute......Mr. Obama's days are numbered in the White House.

I'm not so sure Iowa is "safer ground" for Romney. What's he going to do there - "Dodge" more questions? I think Mitt Romney is the worst candidate for President I have ever seen.

G-Dog-787120....."I'm not so sure Iowa the White House Situation Room is "safer ground" for Romney Obama. What's he going to do there - dodge more questions?"

Yep, Mr. Obama is staying AWAY from the White House. You know, having to be PRESIDENTIAL.

Talk about someone DODGING QUESTIONS.

I truly feel sorry for our Ambassador and the three other Americans killed because Mr. Obama DID NOT protect these American citizens he swore to "protect and defend".

Jeep is NOT going to move their production to China. I ought to know. I work in those plants at Detroit and Toledo. In fact, both of those plants are currently EXPANDING.

Expanding HUGE to meet product demand. They are installing state-of-the-art metrology centers that look like space shuttle clean rooms as I write this.

The Chinese demand that anyone selling Jeeps in their country build them there. The Chinese are smart enough to not allow Romneys in their country who'll cannibalize their economy and offshore jobs. Only idiots like the people of the United States do that.

OBAMA/BIDEN next month

David Noah - yes the auto bailout did start under Bush, which Romney opposed at that time. After getting the country into the worst economic conditions since the Great Depression, the least GWB could do was take his foot off the head of the auto workers. Thankfully, President continued the aid and regardless of how you spin it, those people are working RIGHT NOW.

So Romney promises to "fight for every American job," huh? Tell that to the workers at SENSATA TECHNOLOGIES: yet another company gobbled up by Bain and cannibalized for its assets. It's now in the process of being shut down in Illinois, to re-open in China.

What, you think he no longer owns shares in Bain, and has no influence with the rest of the vultures? Get real.

The auto bailout is the issue that will cost Romney the state, women's issues will cost him in the other remaining battleground states. Looking more and more like an Obama- Biden win here.

Then Mutt can start his apology tour to all his millionaire financiers who bankrolled his campaign. Start the bus!

NEW YORK TIMES ARTICLE BY MITT ROMNEY ON AUTO BAILOUT 11/19/2008 (LINK BELOW)

READ IT AND REALIZE OBAMA IS LYING TO YOU!!!! ABOUT EVERYTHING!

"The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk."

http://www.nytimes.com/2008/11/19/opinion/19romney.html?_r=0

...

To completely understand what Romney is doing you have to understand the GOP playbook of "crash and burn". The Republicans think that the fewer the better as for the economy. In other words, shrink the population so the rich get richer and the 80% get poorer, in their view only 10% or so would be successful and you would have a rich-poor society. My question to America? Is this what you want? Romney is a job destroyer for America, it's already been proven. Bain Capital has destroyed more jobs here in this country than any other entity. Exporting jobs to China will not grow our economy. Romney insists that his policies will help grow jobs and grow the economy. If that's true then proven evidence to the contrary must be false.

Obama didn't bail out GM, the American taxpayers did.

ticked off-There is a video of romney being asked if he said let detroit go bankrupt- he was smirking and said absolutely i said it. so flip flop lying mitt wanted detroit to go bankrupt. now he lies again.

romneys plan would have destroyed ALL pensions, cost half of the jobs- because HIS PLAN COULD NOT BE DONE.IT WAS IMPOSSIBLE TO GET THE LOANS. which part of that do you not understand?

the only plans romney has told america about are his job plans. and we only know that through his Bain job- where he shipped jobs to china.

as the workers at the sensata plant- heck romney even made them take down the american flag

yeah romney makes jobs for china-not america

romney is a traitor

ticked off

here is the odds of Obama winning from people who put money where their mouths are- gamblers. in case you dont know the gambling business has the best statisticians in the world and their word on the election -Obama by almost three to one as of yesterday

maybe you true believers in romney should put your money where your mouth is

The bankrupcy Chrysler went through in 1979 differs from the bankrupcy GM and Chrysler has gone through in recent times. In 1979 they took loan guarentees from the government and hired a sucsessful CEO to rebuild the company. This recent bankrupcy, the American taxpayer took on GM and Chrysler debt (will likely never be repaid) and Obama dictated the terms and with his illustrious business background has dictated how they can be profitable. They should have a bright future building cars at a loss. But no worries, the taxpayers hold 70% of that paper.

Politics of Auto Bailout Haunt Romney

As well they should! Does anyone here truly believe Romney gives a damn about American jobs? Then I suggest you read up on Sensata:

The 170 workers losing their jobs as Sensata Technologies relocates to Jiangsu, China, say Romney himself, who owns stock in the Bain-owned Sensata, is in a position to keep their jobs here. They note that the company has made profits in Freeport and say that the only reason to outsource is to make even more profits. Romney's Bain Capital will only have to pay the workers 99 cents per hour rather than the $17 and up the workers earned here.

"We've been trying to get his attention for months," Gaulrapp said, "But to no avail. He ignored us at the GOP convention in Tampa, at the debate in Hempstead, at his campaign offices - everywhere. So we figured we'd try to get his attention at a campaign rally."

When Gaulrapp and his coworkers got to the rally they took good seats pretty close to the front. Gaulrapp said that he got to ask the candidate: "Will you please come to Freeport, our town, and do something to help us save our jobs?"

At that very moment, he said, security people arrived and removed the Sensata workers. Gaulrapp said that as they were being removed the Romney supporters at the rally began chanting, "U.S.A.!"

"Then, the Romney supporters started yelling and calling us communists," Gaulrapp said. "They were chanting 'USA' against us while their candidate is the one sending American jobs out of the country and we are the ones fighting for those American jobs.

"Here we are, trying everything we know how to keep our jobs from being shipped off to China, and for that they were calling us communists. Go figure!"

12 million jobs in 4 years, eh, Romney? Well, here's 170 jobs you could start with right now. You don't even have to win the election to do this. How about it, Romney?

[crickets chirping]

@Ticked off in Ohio

The major problem with Romney's supposed plan was there were no financial firms willing to bankroll the bankruptcy, so a chapter 11 bankruptcy was not possibly until the Feds stepped in.

This multibillion-dollar corner of the lending market -- debtor-in-possession and exit financing -- has been rocked by General Electric Co.'s recent, undisclosed decision to largely halt lending to companies in bankruptcy-court protection or near it, said several bankruptcy lawyers and financial advisers. GE is one of the world's largest such lenders, last year doing $1.75 billion in restructuring loans.

Debtor-in-possession, or DIP, financing is essential for the lawyers, layoffs and other restructuring necessary for a company's rebirth. Exit financing is used when a company "exits" reorganization. Banks have been eager to take part in this market because the loans are the first to be paid back and command high interest rates.

Source: 'DIP' Loans Are Scarce, Complicating Bankruptcies

note at the time they were the largest in the world at $1.75B. So where was GM and Chrysler supposed to raise funds to the tune of over $80B????

So Romney suggested the Government guarantee the loans, but GM and Chrysler didn't find anyone willing to finance their bankruptcies.

Traditionally, the top providers of debtor-in-possession loans have been financial institutions like Bank of America, GE Capital, Citigroup and Wachovia. Lehman Brothers also participated in a fair number of such loans.

After Sept. 15, 2008, when Lehman filed for bankruptcy, none of these institutions were in a place to provide what would have been the largest debtor-in-possession loan ever in the case of General Motors. The only way the government guarantee would have changed this is if it were nothing more than a fig leaf, disguising what would have been for all intents a government-financed debtor-in-possession loan.

Source: Was There a Bankruptcy Alternative for the Automakers?

So in essence Romney would have let Detroit go broke.

Romney said:

"I will fight for every good job in America."

"...and, of course, it will be using *my* definition of 'good'."

David, you say, "Isn't it amazing that Obama takes credit for Bush's activities when it was Bush who first bailed out the Auto industry and Obama simply gave them mpre money later continuing Bush's bailout."

More importantly, isn't it amazing that you give credit to Bush for the bailout, but I wonder if you give credit to Bush for the financial collapse that required the bailout in the first place. I doubt not.

(The reality, which makes this whole debate on bailouts kind of absurd, is that a Republican and Democratic President supported bailouts of all kinds. It only became a political hot-button issue when the Tea Party laid the blame squarely on President Obama, ignoring Bush's policies that were already in place or in motion.)

For those of you who know nothing about Defiance OH, it is home of the Central Foundry Division (I think they may actually have changed the name of the division after I left OH in '95) of Generous Mothers. It is also the largest employer in NW OH outside of Toledo. When GM started closing other foundries back in the 70's-80's, those jobs were moved to Defiance. And yes the aluminum block division also made the engine blocks for that other saved company, Chrysler. GM workers make upwards of four times the hourly rate of any other workers in the area. Whey they went out on strike for higher wages in the early 70's, broom pushers were making $12/hr and wanted $16 plus additional benefits. Most other workers at other automotive related industries in the town of about 18K people were making less than $4/hr and most other people were earning just over minimum wage rates at other industries and businesses. The town is still mostly a GM and college town (Defiance College, a UCC affiliated college.) The only reason the GOP has a stronghold on the area is because MOST of the five county area (5th Congressional District) is still made up of small family farms owned by ultra-conservative German/Dutch ancestry people with barely high school education (even today.)

ldo

BTW: Mr. Obama "asked" Chrysler's CEO to submit his resignation.

Yep, the President "asking" a private company's CEO to quit.

Yes, asking a failing CEO to resign is awful compared to giving a failing bank CEO a blank, no sting attached check so that the failing bank CEO can turn around and not only give himself a bonus but allow him to continue the same practices that required gov. bailout in the first place.

You are so right, Ido, it is so much better to give away taxpayer money and ask nothing in return!

Mark, are you able to read or just choose to spit out whatever comes into your little brain? Did you not see where the chairman of Chrysler said there were NEVER any plans to move production to China???? Simply that they were going to build ADDITIONAL plants in China to meet their needs and the Chinese requirements? Gee, guess not. Your little rant sounds better when it doesn't include any facts.

GOPisextict: "Obama saved my job, my town, my industry and likely the U.S. economy."

Had Obama allowed the automakers to go through normal bankruptcy procedures, by now they would have been reorganized and probably back on the same track they are now. (Same scenario the airlines have been through multiple times.)

The only difference is, you would be praising Obama for handling it this way and telling everyone what a genius he was for not doing the bailout.

Grazed..."romneys plan would have destroyed ALL pensions,..."

Romney's plan? Since when does Romney decide how assets will be allocated in a bankruptcy, or who will be fired, if anyone?

You do not have one iota of proof that the courts would have chosen to force layoffs or confiscate any or all pensions.

Obama did not fire the CEO of GM. Steven Rattner did. In an article he wrote he spends paragraph after paragraph talking about the poor management and only mentions the UAW in one sentence.

He also calls out Romney as a liar.

Behind the scenes with Steven Rattner, Obama's 'Car Czar' - Oct. 21, 2009

Delusions About the Detroit Bailout - NYTimes.com

Nothing is more despicable then the lying, vote threatening, anti-constitutional completely hypocritical far rightt wingers

Obama will win this election easily and will pick up a few more congressional seats as well.. And that point we will tell you far right wingers to sit down STFU and get in the back of the bus and behave.

The Republicans party has gone off the rails and has obviously done more to sabotage America then help it, and the far rightwing is either willing ignorant for the sake of a loser agenda or jus tplain STUPID

Interesting how many little people, you know, us lower and middle class Americans, support the bailouts of these huge corporations...you know, the evil corporations, and brag about jobs saved, etc, when all along thousands of smaller businesses failed, causing tens of thousands to lose their jobs, and not one of them got a penny from the government.

And then we have to listen to the President and Vice President lie about caring for the little guy.

Actions lie louder than words.

Doing Work...if you hate capitalism so much, why don't you move to Cuba?

Amazing how many liberals don't even realize that GMC WENT BANKRUPT.

General Motors Corporation does not exist anymore, it is gone. General Motors Company is what exists today.

"On July 10, 2009, a new entity completed the purchase of continuing operations, assets and trademarks of GM as a part of the 'pre-packaged' Chapter 11 reorganization. As ranked by total assets, GM's bankruptcy marks one of the largest corporate Chapter 11 bankruptcies in U.S. history."

Gee.... and Romney wanted to let them enter bankruptcy proceedings? My goodness, how awful.(sarcasm)

The only difference is that Romney would have followed bankruptcy instead of screwing investors and taxpayers with a pre-packaged gift basket for GM executives and the UAW.

OneOfTheSane @ 1.5: You know, I take a lot of ribbing and snarkiness for my screen posting name, and could do the same to you but I won't.

What I will do is disagree completely with you. The Auto bailouts and subsequent pay backs are a scandelous fraud and someone ought to do jail time for it, starting with Tim Geithner and his boss. They had several people tell them this was a bad deal, not just Romney. The bailouts were indeed a good idea, the payback was criminal. Here is the latest article I've found (there are a long string of them) explaining how the administration set this up so they wouldn't have to pay back the CASH, instead you and I would pay it.

http://www.salisburypost.com/Opinion/090512-edit-my-turn-pender-for-web-qcd

hs321 @ 1.46: I have nothing to say to you but "right on man".

What a sham story. NEWS ALERT:: GMC did go through BANKRUPTCY! General Motors Corporation went bankrupt and General Motors Company was created - "GM's bankruptcy marks one of the largest corporate Chapter 11 bankruptcies in US history."

What Romney advocated was a managed bankruptcy to ensure that tax payers weren't being defrauded and that the company made the necessary changes to be profitable and be able to keep their head above water. Instead Obama handed them a pile of money, GMC still went through a bullsh!t bankruptcy that didn't change any of the fundamental problems in the company. The only thing this 'bailout' did was cost the taxpayers billions upon billions that will never be recovered, promote green energy cars that lose tens of thousand on each one sold, and drag out the day until they have to go through formal bankruptcy & actually make changes.

Come on NBC quite the bullsh!t.

I saw Mitt Romney on TV when a reporter asked him what he thought about the auto companies going bankrupt, and all Romney said was "Let them!" All this other crap Romney is trying to say NOW isn't telling anybody who the real Mitt Romney is, he's a Vulture Capitalist that never watched out for ever ONE American Worker.

Workers in China probably love Romney because that's where he sent our manufacturing jobs, but I don't hear any American Workers praising Mitt Robme, just the opposite. I heard stories about how Romney shut down their jobs and shipped their jobs to China.

OBAMA/BIDEN 2012!

A Must Read

We got Romney Now!!

GOP@1.3

Couldn't have said it better myself so I won't add anything except to quote what my father who worked for Chrysler Mound Road Engine plant always said: "NEVER trust ANYTHING that the Republicans promise you, they are only out for themselves and to hell with the workers and particularly the unions" Thanks Dad, hope people understand where you were coming from

GM is hardly the success story Obama would have everyone believe. They have been repaying the TARP, but it is only with borrowing from the treasury to do it. GM has let government dictate a path and the taxpayers are still on the hook for most of the debt. If I owe more than I own, I'm just a manager.

Bush did not bail out th auto industry.

Bush gave Huge amounts to the Banks only, without restrictions, or guidelines. They used it more for takeovers than for loans.

Isn't it amazing that Obama takes credit for Bush's activities when it was Bush who first bailed out the Auto industry and Obama simply gave them mpre money later continuing Bush's bailout.

Regarding Bush, even a broken watch tells the time correctly twice a day.

TARP went to the banks. Stop the rewriting of history, Ken, you're as bad as Romney. Romnesia is truely justified

@ ED ...... Do a little reading. Bush signed it in Oct. of 08 if that helps any.

Yeah, Romney moved to tie Obama in Ohio after being several points down just a couple of weeks ago. Any more haunting and he'll be several points up on Obama.

I've heard that the polls are going back and forth, with Romney ahead by 1% (ironic) one day, and then losing that lead back to President Obama.

Seems to me that once a person learns who Romney is, and what Romney is about, they decide it's better to stick with President Obama, and they sure are right about that!

OHIO for President Obama!!!

Obama/Biden 2012

Am I hearing this right, Republicans are now arguing over who bailed out whom and Republicans are trying to take credit and give credit for the bail outs to George "Curveball" Bush?

Didn't the Republicans just fire every Republican Politician last November, who favored the bail outs, NOW Republicans are in Ohio trying to take credit for the auto bail outs that they AND Romney were so fiercely against?

One of my favorite Republicans, Dick Lugar of Indiana (a real nice, down to earth guy), was tossed out of office because he voted in favor of the bail outs, and Republicans despised him for it.

Now, instead of Dick Lugar, Republicans have that wacky Mourdock who doesn't believe in rape, and wants to make women's decisions for them, who is just horrible, in place of Dick Lugar.

Just goes to show how Republicans are just making too many mistakes and bad decisions.

What a bunch of twisted nuts!

Obama/Biden 2012

Republicans will destroy this Nation if reelected, wake up America !

I really can't see anyone beating their chest over any of this. Bush signed TARP and turned it over to The next in succession to implement the distribution. GM and Chrysler took the bankruptcies to receive funds. Obama replaced GMs CEO after restructuring and demanded Chrysler CEO step down also. Chrysler said no thanks and entered into an agreement with Fiat. Chrysler is out of the TARP program, debt paid to the taxpayers and propping up Fiat in Europe. Obama is still telling GM how to run their business. No big deal? It wasn't all a bust. I think AIG has paid back most of TARP also. Not positive have to check.

I don't suppose you so-called liberals ever bothered to actually read Romney's Op-Ed piece and get the facts...

http://www.nytimes.com/2008/11/19/opinion/19romney.html?_r=0

"The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.

In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check."

1) The title of the Op-Ed, "Let Detroit Go Bankrupt", was chosen by the (far left-wing) editors of the NY Times.
2) GM and Chrysler DID go through Bankruptcy.

Romney's many flip-flops on the issues depends on who he is talking to at the time. Don't let this lying S O B get in.

Obama/Biden 2012

Wet Willy,

If Romney is so good why is he trailing Obama by 17% in his home state of Mass.? I've never seen a poll yet that has Romney ahead in Ohio so where did you get your information

He is so good because he is beating Obama. Check the polls....look it up

TO: John Doe-2241225 who wrote:

"Romney NEVER said "Let Detroit go bankrupt."

I heard him with my own ears. The reporter told Romney the Auto Industry was going bankrupt and then asked Romney what Romney would do, and again I heard with my own ears Romney say: "LET THEM!"

So what you doing, making up quotes so that you can deny your quotes were ever spoken?

Romney was on TV when he said it, millions of us heard him, and now you want change it. No thanks, we are sick and tired of Republican lies and Republicans trying to re-write history.

Obama/Biden 2012

TO: Truth Conveyer who wrote:

"He [Romney] is so good because he is beating Obama..."

No, he's snot.

Romney keeps going back and forth between being 1 point ahead and then dipping back down, which is evidence that once a person gets to know Romney they don't want him; just like the folks in Massachusetts don't want him back there either.

When Romney was Governor of Massachusetts he came in 47th out of 50 in job creation, probably because he used the Massachusetts Governor's Office to ship jobs to China.

Obama/Biden 2012

gopis -- obama did not bail anyone out. the taxpayers of America did that. he simply wrote a check on our behalf with money we didn't have.

normal bankruptcy proceedings would have been a much better and more fair approach. the left is always saying that we should all do our fair share. i believe that applies to the uaw as well.

TO: Diogenes22 who wrote:

"I don't suppose you so-called liberals ever bothered to actually read Romney's Op-Ed piece and get the facts..."

We know what the difference is: Romney's bankruptcy would have allowed Romney to keep Employee Pension Money.

President Obama's plan allowed Employees to keep everything, including their jobs AND their Employee Pension Money.

Quit trying to lie to get that phoney in office who doesn't belong there!

Obama/Biden 2012

American Girl,

And it was free too! Plus it included free contraception for everybody! LOLOLOL. Let's face it; the dude is crooked as they come.

Romneys bankruptcy would have followed the law unlike Obama's bastardized version of it. The gov't has no business participating in vulture capital type of activity.

For the good of the country, we need to move on from the Obama fad

TO: billybob-6210632 who wrote:

"... normal bankruptcy proceedings would have been a much better and more fair approach..."

Since when is it "fair" to steal American Workers' Retirement Money?

That's a big problem with Republicans, they want to steal from American Workers and pocket our retirement money. I guess that's why Romney hides his money overseas, because he's afraid that one day the Americans he stole that money from will try to get their money back!

Obama/Biden 2012

TO: Ticked off in Ohio who wrote:

NEW YORK TIMES ARTICLE BY MITT ROMNEY ON AUTO BAILOUT 11/19/2008 ... A managed bankruptcy ... would permit the companies to shed excess labor, pension ... costs..."

So, you don't understand that to "shed excess labor" means Romney was advocating LAYOFFS?

And you don't understand Romney's plan to "shed pension costs" means to steal Employees' Pension/Retirement money?

Proof Republicans don't understand a word Romney is saying.

Obama/Biden 2012

TO: Truth Conveyer who wrote:

"...Romneys bankruptcy would have followed the law ..."

What law? The "loophole" law that allows Vulture Capitalists to steal the American People's Retirement Money?

You are very sadly mistaken.

Obama/Biden 2012

American Girl,

Um, not sure if you are aware, but that is what the bankruptcy law is supposed to support. In effect, righting the ship of a company that could not right themselves. Unfortunately, difficult decisions need to be made in these siutations.

That being said, for some reason that law applies to only every other company in the USA EXCEPT for GM and Chrysler. Clearly Obama does not want a level playing field or "fair shot for everybody". He only wants a fiair shot for those he chooses to provide a fiar shot too. What a hippocrate....LOLOLOL

American Girl:

Who do you think Obama gave your and my tax dollars to for all the failed green energy companies?

Vulture Capitalists!

Romney/Ryan 2012 for effective leadership for a "United" States of America

@AmericanGirl

"We know what the difference is: Romney's bankruptcy would have allowed Romney to keep Employee Pension Money."

WOW. Just f-ing WOW. First and foremost, neither Romney nor Bain Capital nor any other boogey-man you'd like to invent had anything to do with the GM and Chrysler bankruptcies. Romney had nothing to gain, financially.

The GM and Chrysler's bankruptcies were rooted in a combination of poor management and greedy unions, period. (Strange how none of the non-union car manufacturers in the U.S: Toyota, Honda, Volkswagen, BMW, etc. needed any sort of bailout, huh.)

Stolen Retirement Money??? Tell that to the bond-holders!!! Which, if you'd bother to do some research, are predominantly RETIREES who moved their 401Ks from the "volatile" stock market to the "safe" bond market. The Obama-sponsored GM bankruptcy turned 200 years of bankruptcy law in its head and wiped out huge portions of those retiree's life savings. But hey, Obama's Union buddies got their pensions 100% funded (on the backs of me and every other taxpayer, I might add.)

"Quit trying to lie to get that phoney in office who doesn't belong there!"

Would you care to point out any lie in what I've said? One will suffice. Just one.

Bankruptcy law is heavily skewed towards the business, allowing such outfits as Bain capital to take the ailing company over, screw the employees out of moneys that they have already earned (along with srewing subcontractors and such that are owed money) and to pocket millions and millions once they go back to doing business or liquidate.

The investors who take the least risk are paid first. For example, secured
creditors take less risk because the credit that they extend is usually backed
by collateral, such as a mortgage or other assets of the company. They know they
will get paid first if the company declares bankruptcy.

Change the bankrupcy laws to stop this Bain capital type fleecing of America !!!!

Truthconveyor, Tell me which ones and in which states. I see only a slight change and none showing the Romney leads in Ohio!

200 years of bankruptcy law? If you knew anything about bankruptcy, you'd know that bankruptcy judges don't actually follow a 'law'.

In 1998, I bought a lot of shares in a struggling company which had a lot of revenue, a great credit rating, and had begun to reorganize in a way that gave me the indication that they would soon return to profitability. Unfortunately the company was bought out by a private equity firm, which immediately and unnecessarily took it to bankruptcy. In the bankruptcy proceeding, not only were all the employment contracts broken, and pensions confiscated, but also all ownership shares in the company were nullified, which means I suddenly didn't own shares anymore. But instead of liquidating, the judge allowed the company to issue new shares for funding, and the company continued doing business.

Listen up, stock investors, this means you: when I asked my lawyer how it could possibly be legal for a company to dissolve its own ownership shares without liquidation, he said simply: 'Bankruptcy judges can do anything they want.'

The company's name was Stage Stores, and need I mention that the private equity firm that took it over was Bain capital? Let's see, 1999... yep, it was Mitt Romney who took my investment and put it in his pocket. Probably took it oversees so he wouldn't have to pay taxes.

In terms of polls, I go with the oddsmakers who rely on the weighted averages of all the polls, the best example of which can be found on Nate Silver's fivethirtyeight blog. The good news for Romney is that he now has a 65% chance of winning Florida, and a whopping 81% chance of winning North Carolina, both flipped as a result of his commanding performance in the first presidential debate.

The bad news for Romney is that Obama has a 68% chance of winning Iowa, an 86% chance of winning Wisconsin, and a 75% chance of winning Ohio. Those three states alone give Obama the win.

In addition, Obama has a 78% chance of taking Nevada, and a 69% chance of winning New Hampshire. He also has an extremely slim 54% chance of getting Virginia, and 59% chance of winning Colorado.

This wouldn't look so bad for Romney, if the trend lines were moving his way. But in fact, looking at the trend and the associated dates, it is clear that Romney's first debate momentum was stopped, not by the second presidential debate, but by the Biden/Ryan debate. And the trend ever since has been slowly but surely toward Obama, who now holds an almost 75% chance of winning the election. That's almost identical to the odds on the gambling sites.

Bottom line, if you're sure of a Romney win, then you'd do well to get your money down on those odds while you can!

Snakebone,

Obama may very well win but he has in effect been nuetered. He has been exposed as nothing more than a snake oil salesman who supports crony capitalism and is dis-honest.

For all of our sakes we need a change and I am sure you will come around to that conclusion if Obama does win.

If Mitt Romney worked for an Automobile company, it would be DODGE. I can't remember ever seeing a candidate for President running away from a throng of media reporters two weeks before the election. If you're running for Office and running away from questions - you might have something worse than a case of Romnesia.

Clwyd 1.70

Try to clear your mind and read my post again. I said Romney and Obama were tied in Ohio and never said he was ahead, but that may change in the next couple of days. The source was today's Rasmussen poll.

@Snakebone .... read your 1.85 post. Very unfornatuate. Did all the homework, thought things looked legitmate, had all the basses covered. You were probably frustrated to back a loser. It happens

Wet Willy,

So I can't read, sorry, but I still have seen not one poll that even has them tied. Could you please tell me which one you saw that I couldn't find??

Ken: If you're being serious (hard to tell on these threads), thanks. Long time ago, way past it. But it does go to show, doesn't it? The stock itself wasn't a loser. When you bet the right way, the only way these guys can beat you is to change the rules of the game. Which is just another way to say that if you can't do better than the competition, then you have to destroy the competition. To some, that's the dark underbelly of capitalism, to others, it represents the great hope of immeasurable riches.

Romney is the most boldfaced liar I have ever seen. His entire campaign is based on lying. His typical responses when caught in a lie are either to ignore it or double down on the lie. A classic example is this lie about Jeep. He gets caught in a lie. Chrysler boldly says it isn't true and the facts on the ground say it isn't true. Jeep in Michigan is adding 1100 jobs, in Ohio, they are expanding and will add jobs. Chrysler makes it crystal clear they aren't moving production to China, but possibly building Jeeps in China as China doesn't want to import them. However, domestic demand for Jeeps is great. Romney lied and got caught, but you won't see any of the last part on Fox.

This is why Romney lies so much. He knows the lies just get repeated endlessly but the truth doesn't and particularly on Fox networks, they just spread the lies but never cover the later proof that he lied. So the repeated lie becomes accepted as truth by the uninformed and those who chose a "unfair and unbalanced" source for their news. Lies spread on Fox are worth 20 million viewer voters. That's why he lies and doesn't care about it.

Romney is just turning the lies up even more and refusing to do any interviews until after the election. A great strategy because he won't get pinned down at the lies by any of those who just might be considering voting for him.

This man is devious scum, he will lie to get what he wants and there is no limit to what he'll lie about. He got away with this in business and sees no reason why he can't get away with it in an election.

If this guy wins it will be the biggest con job in the history of the world.

CIA operators were denied request for help during Benghazi attack, sources say

http://www.msnbc.msn.com/id/49570159#.UIsbaGfF2UI

Ken,

Stop lying. TARP was NOT for car companies.

This is what it took to get TARP money.

The Act's criterion for participation states that "financial institutions" will be included in TARP if they are "established and regulated" under the laws of the United States and if they have "significant operations" in the United States. The Treasury will need to define what institutions will be included under the term "financial institution" and what will constitute "significant operations."^[4] Companies that sell their bad assets to the government must provide warrants so that taxpayers will benefit from future growth of the companies.^[5] Certain institutions seem to be guaranteed participation. These include: U.S. banks, U.S. branches of a foreign bank, U.S. savings banks or credit unions, U.S. broker-dealers, U.S. insurance companies, U.S. mutual funds or other U.S. registered investment companies, tax-qualified U.S. employee retirement plans, and bank holding companies.^[4]

So called, Truth conveyor is an obvious Troll who registered 10/2012. Not worth a moment of your time.

Ed,

I am sorry that you feel that way. I know the truth is painful to some of those that are attempting to defend Obama's failures

1). No, it was not Bush that left the CIA folks out to dry in Benghazi

2). No, it was not Bush who committed to reduce the deficit by half by end of first term

3). No, it was not Bush who committed that unemployment whould not exceed 6% if he recieved the stimulus

4). No, it was not Bush who committed to close Gitmo in his first year of office

5). No, it was not Bush who participated in unbeleivable crony capitalism with the energy industry in the form of $90 billion dollars

6). No, it was not Bush who committed to comprehensive immigration reform by the end of his first year in office.

7). And no, it is not Bush running for office this time around.

What part of those broken promises (er, lies) do you not understand? The Truth Conveyors speaks the truth. I am sorry that your POTUS can only run on the "free birth control for everybody platform", but that is all he has. This is a natural consequence of electing a community organizer, Jr. Senator to the office of the POTUS.

The fact is, nothing will change if he is re-elected. He ideas are worn out and the Hope and Change message he espoused the last election has been proven as fruadulent.

Let's be honest (as always, the Truth Conveyer speaks the unvarnished truth): Obama sold us all a bill of goods....and deep down we all know it.

THe papers "shredded" Mott?

Uh, Haake, I forget - who did the Detroit paper, Um, Shred?

I see you mention Jeep.

Tell us again - who owns Jeep?

Cough, cough, ummmm, AMerican Auto industry, right?

Remind me again, who all those investors were stepping up to the mat to 'bail' out the auto industry? Bain took one look and said 'skanky', like every other investor. It was liquidation or nothing, but go ahead with your alternate investment strategies that NEVER existed.

I suspect for many, if not most, they finally figured out GM actually did go BK - when Mitt told them during the debates.

But god bless 'reporters' like this guy Haake - just an Obama operative with a byline.

Besides everybody knows Detroit made cars absolutely suck.

Why can't any of them make something even close to an Accord or Camary? Never mind an S class Merc. or 7 series Bmw.

Red, they never had the chance. As I said, when the price was right.

"Tell them what they've won Johnny". Uhhhhhhh ...........nothing Bob. GovCo got the call and won. And the taxpayers won't see that money anytime soon. GM trading at around $24 and to pay back the stock needs to be over $57. BZZZZZZZZZZZZZZZ.

As I said, when the price was right.

Ya see, you hide behind the price is right fright. Guess what, the price was right at 0.00, and even then, no one would step up. Nice to know you support the idea we'll pay you to take it off our hands.

Sometimes you just have to let a sheep be a sheep. Sorry Red, has your affiliation with Fiesty and the rest of "Our Gang Comedy" left you in the cold? $0.00, really? How much time did they give it before we, the American people, gave them an out? They would have if they had any brains. They saw the opportunity to jump on with that $0.00 value with a GovCo backup but they didn't. They knew GovCo can't even run a half marathon without a damned motorcycle assist to the end of the race.

Obama and the left continue to lie about Romney and the auto industry. All you see the left wing nuts mention is the Headline: Let Detroit go bankrupt, they won't mention that the headline was actually written by the newspaper and not Romney. All Obama did was take GM and Chrysler through a managed bankruptcy like Romney wanted to, except Obama made sure the UAW members were taken care of while non-union workers got screwed.

As did all the bond holders. Of course, I am sure they were considered those evil 1%'s that needed not get anything out of the deal.

Face it. Romney said it and is now trying to back peddle out of it. No matter how hard you trolls try, it won't go away. As the election nears, the true Mitt is being cast front and center. And it ain't pretty.

Sometimes you just have to let a sheep be a sheep

You see talk, you talk a big game, but at the end, who bailed out GM. Did the private sector? No one, not a one of you in the coward crowd. You talk like you would have heralded a massive non-liquidated honorable bankruptcy (as if that exists), but yet it didn't happen. Tell me, who took the reins from you so called brazen capitalists .. no one. Yes, we know you big talkers, full of failed ideas, but never a bold plan. Pathetic. You love the idea of someone changing your diapers, but the fact is you leave a pile of crap behind.

Say, RedDev? Since you're throwing around terms like 'coward' and 'big talkers'... hey dude, let me HELP!

For three days straight, I've been trying to get answers to two simple quetions from the wrong-wing crowd:

1. How exactly has the Repulican- led House helped you and yours since taking control in 2010? Name for me just one action that the House has taken- or proposed- or even discussed in public!- that has been any meaningful help to you.

2. Help me understand who Mitt Romney is. Tell me about just one, single, position that he's been consistent on throughout his political career. Give me an example of an important issue which is so dear to him that he's never reversed himself on. Be specific- saying, "Less government, lower taxes, more opportunity !" is background noise, not a position.

No deflecting, either! Don't come back with some rant about Obama- that's a cheap deflection and will count as a non-answer. Come on, you bloviating blabbermouths- step right up, operators are standing by!

Romney's CEO swagger has become his Bain. The mainstream will reject his imperial presidency.

Good one Red.............Not. Shouldn't you be passing out from the popcorn by now........or............do you not have to go to work (yes that evil word once again) tomorrow?

Fox .. re-read my post please. I have no idea what capitalists like Romney think. If the auto survivalists had their way, we would be here 6 years haggling over 1 penny for the cost of a bailout. In the meantime, workers and plants would have been idle, products not deliverable, and at the end, a useless company. That is the capitalist way, hold out to save one cent, but cost the economy trillions. They are an idiotic lot when it comes to common sense.

Talk, so typical of the capitalist douche you are .. can't respond to an issue like the bailout, so you bring out the popcorn, park your fat ass in front of the boob-tube, pull the lever on your recliner, and pass gas. Now tell me again, what company offered to step in and do a managed bailout of the auto industry. In you pretend world, it still comes down to NO ONE. Not one, not two, but zero, a number that you can, no doubt, understand.

@RedDevPS*******:A pack of gwaddamn liars chewing typical republican bullsh^t. Until Mitt abruptly decided to lie about His support(sic) of the bailouts, these sons-a-bitches were giving the President and the auto workers total hell for taking the bailout. They were preaching all over social media, newspapers, etc. about the gwaddamned evil Socialist Obama and His Union Thugs. The people of Michigan and Ohio won't forget. Good to see you. *******

Hey Fox, Gotta ask you this. What bills have they not passed that made your life or anyone elses' less comfortable than what they were? Then, tell me what bills they haven't passed that didn't cost money we don't have. I will wait,,,,,,,,,,,,however, I will not expect an answer.

Talk, still waiting for the name of one company willing to step in. You have one or are you a Romney coward hiding behind your faux capitalistic ideals? Tell us WHO!!!!!

Oh, and to the bills, the only bills your douche's are able to pass is passing the dinner bill to the off to someone else. Did you ever fund the Medicare Part D bill? Hell no, you refused to pay the bill, and now your party claims Medicare is bankrupt. Typical date with the GOP, ruffies full of fluff. Own up Talk, and quit taking the low road of bankruptcy.

I'm sorry,...I am going to have to actually see a photo of a Romney crowd. I can no longer take the 'journalist's' word for it. Since the media seems to be manufacturing the Romney 'Surge' and all. Where are the photos?

http://thinkprogress.org/politics/2012/02/24/432150/romney-versus-obama-speec/?mobile=nc

Again, RedDev, no one would touch it as GovCo was on the courthouse steps at the "sale" of the auto industry and they knew they had no chance to try and do it their way. Smart, very smart. Why would they take the chance if GovCo was involved and they saw that it was going to be a loser?

Tacking a $40thousand check to every Volt that rolled off the assembly line is a good investment? Don't bet your retirement on it.

Good to see you stuck on Volt. Like your friend Spanky, you simply can't see the loss/gain on the books of that car. Tell me once again, one company that was willing to bail out the auto industry? Just one. You can't. I am not as stupid as you to bank my retirement on the Volt. I would be willing to ask the Government to back an electric car. We need not one, not two, but an entire fleet of electric cars, and GovCO can help us make that leap. Far too complex for you to see, so you are relegated to the blathering ignoramus.

Would someone please tell me when it became common place for the federal government to bail out any business? I guarantee if my small business that I bust my ass working 65-70 hrs a week running because my taxes are so high I cannot afford to hire anyone to help would be belly up before Nobama's administration did a damn thing to help a 'normal' person like me. No, Romney did NOT say let Detroit go bankrupt but I sure as hell will. They ran themselves into the ground in part because of all this ridiculous green energy crap that has been proven time and time again is too expensive to harvest. While I do sympathize with the employees <non union especially who get shafted.> I am 100% apposed to my hard earned tax dollars paying for a company that will likely be right back in the same sitch whining for more bailout money before the end of my lifetime. And that isn't even the worse thing this 'man' expects me to pay for.

No thanks..... no more years.

Romney/Ryan 2012

Would someone please tell me when it became common place for the federal government to bail out any business?

Talk to us when you have 1 million employees at stake. Otherwise, take your boo-hoo crying elsewhere.

Good to see you running through all the red lights RedDev. Any day Romney will say the sky is green and all our 'pals' will be running around screaming the same.

/lesigh Just wait and see what Romney wants you to pay for.

Foxtrotsky = I can name one thing Mitt has been consistent on. From Day 1 he has wanted to reduce his taxes. Never wavered.

ir12, you are quite right-we must be fair; the man has been absolutely steadfast in his belief that he shouldn't have to share his (mostly ill-gotten) gains with the society that made his staggering wealth possible.

Hand, um, WHAT? Your response is not only weaselly, it doesn't make any freakin' SENSE! I'm going to go out on a limb here and make a guess that you: a.) weren't the star of your college debating team, and b.) don't make your living as a trial lawyer today.

"Bills they haven't passed that haven't cost us any money that we don't have..." dude, I thought Romney was bad with those overly long, convoluted sentences he throws out, but you're coming back at me with a triple negative- no, I'm sorry, that is not only a non- answer, but it's not even coherent enough to count as a deflection. I'm giving you an F. Go back and read the questions again- I will have to assume that you haven't answered them because you can't.

GM trading at around $24 and to pay back the stock needs to be over $57.

Well, that's rather disingenuous of you. Because what you absolutely ignore is that in May, 2009, right after that Republican icon George W. Bush got through trashing our economy, GM stock was trading for under $1 a share. They are coming back, that $57 a share price will be hit eventually and the government will get its money back.

Now, tell me: when, if ever, will our government get back the $6.2T that George W. Bush added to our national debt in 8 years? I know, I know, they can sell off all those WMD's they found in Iraq!

The point is, this government spending is saving jobs. All the debt added by Bush did nothing but enrich Halliburton. How many offshore Halliburton accounts do you suppose are stuffed with that $6.2T??

lesigh,

We have had a long history of corporate welfare to bailout companies. Here are a few (copied and pasted from http://www.propublica.org/special/government-bailouts). And, imagine, some were implemented under Republican Presidents.

●
Penn Central Railroad
1970
In May 1970, Penn Central Railroad, then on the verge of bankruptcy, appealed to the Federal Reserve for aid on the grounds that it provided crucial national defense transportation services. The Nixon administration and the Federal Reserve supported providing financial assistance to Penn Central, but Congress refused to adopt the measure. Penn Central declared bankruptcy on June 21, 1970, which freed the corporation from its commercial paper obligations. To counteract the devastating ripple effects to the money market, the Federal Reserve Board told commercial banks it would provide the reserves needed to allow them to meet the credit needs of their customers. (What happened after the bailout?)
$3.2 billion

●
Lockheed
1971
In August 1971, Congress passed the Emergency Loan Guarantee Act, which could provide funds to any major business enterprise in crisis. Lockheed was the first recipient. Its failure would have meant significant job loss in California, a loss to the GNP and an impact on national defense. (What happened after the bailout?)
$1.4 billion

●
Franklin National Bank
1974
In the first five months of 1974 the bank lost $63.6 million. The Federal Reserve stepped in with a loan of $1.75 billion. (What happened after the bailout?)
$7.8 billion

●
New York City
1975
During the 1970s, New York City became over-extended and entered a period of financial crisis. In 1975 President Ford signed the New York City Seasonal Financing Act, which released $2.3 billion in loans to the city. (What happened after the bailout?)
$9.4 billion

●
Chrysler
1980
In 1979 Chrysler suffered a loss of $1.1 billion. That year the corporation requested aid from the government. In 1980 the Chrysler Loan Guarantee Act was passed, which provided $1.5 billion in loans to rescue Chrysler from insolvency. In addition, the government's aid was to be matched by U.S. and foreign banks. (What happened after the bailout?)
$4.0 billion

●
Continental Illinois National Bank and Trust Company
1984
Then the nation's eighth largest bank, Continental Illinois had suffered significant losses after purchasing $1 billion in energy loans from the failed Penn Square Bank of Oklahoma. The FDIC and Federal Reserve devised a plan to rescue the bank that included replacing the bank's top executives. (What happened after the bailout?)
$9.5 billion

●
Savings & Loan
1989
After the widespread failure of savings and loan institutions, President George H. W. Bush signed and Congress enacted the Financial Institutions Reform Recovery and Enforcement Act in 1989. (What happened after the bailout?)
$293.3 billion

●
Airline Industry
2001
The terrorist attacks of September 11 crippled an already financially troubled industry. To bail out the airlines, President Bush signed into law the Air Transportation Safety and Stabilization Act, which compensated airlines for the mandatory grounding of aircraft after the attacks. The act released $5 billion in compensation and an additional $10 billion in loan guarantees or other federal credit instruments. (What happened after the bailout?)

jimsepa...your post is validation that companies can go through reorganization through the courts in the form of bankruptcy or through the government. One thing you forgot to point out is this Chrysler's second bailout. What incentive does that company have to operate responsibly when they know the government will bail them out?

There was no onw, repeat no one willing to step in and finance the auto bailout in 2009. No one. Not at any price.

This is what Steven Rattner said, and he was in charge of the bailout.

Delusions About the Detroit Bailout - NYTimes.com

hs, I did notice the redundant Chrysler bailout. I purposefully did not want to get into the validity of the bailouts (except for a jab at Republican Presidents also participating in the bailout...couldn't resist) since that is a different topic from lesigh's question about whether our government has done this in the past. Since you asked, though, I do believe government bailouts play a role in sustaining a healthy economy, in rare and isolated cases, with a one-bailout-and-done policy. 2008/2009 was one of those rare, isolated times.

It never ceases to amaze me that, when discussing any policy that our president has implemented that helps the American middle class, all the Faux-heads start jumping up and down crying, "SOCIALISM!!!".

I have asked before, and I am asking again ... to all those who profess to be so against "Socialism", are you in favor of having a standing military, Police Departments, Fire Departments, Public Libraries, Public Schools, Transportation Departments (for roads, bridges, etc.) ... and so forth? Under your definition of "Socialism", all of these are part of a Socialist system. These are agencies that are for the benefit of all citizens and are paid for by taxes; government-controlled / citizen-funded = Socialist Programs.

The ONLY reason health care for all Americans has not been included in that group previously is due solely to the fact the insurance lobby has ALL our so-called Congressmen and Senators in their pockets.

Anything that is necessary for the health and well-being of the citizens of this nation should not be left at the mercy of the private, for-profit sector. That never benefits the low to middle income people.

The auto industry bailout occurred because there were NO private sector firms willing to buy the debt liabilities. NONE. And the banks were in horrible financial shape due to the failed GOP deregulations that started under Reagan and expanded under Geo. W. Bush, so they were not in any position to refinance the outstanding debts. The sole hope for keeping those Americans working, as well as those working in the support industries, was for our government to handle the bailout.

Romney absolutely disagreed with the bailout and made that crystal clean. Regardless of how Romney tries to spin history, the facts remain the same. Only the ignorant believe that he didn't mean what he said previously. He is a predator who could not possibly care less about those who are not members of his exclusive 1% club.

Some people have said that we need a "businessman" to lead our nation. That is a short-sighted thought. In business there is either an owner making all the decisions or a CEO with a Board of Directors making the decisions. (Despite the lip service they pay it, Boards are not really too interested in what the stockholders want or say). The object of a company is to make money for the owner(s), CEOs, Board members and, to a lesser extent, the stockholders. The public, in general, is just something to be manipulated, used or ignored.

Within our nation there are millions of people and our elected officials have the duty to do what is best for the majority of those citizens. The duty of the president is to be responsive to the people of the nation.

It is NOT about the CEO [read: president] or the Board [read; Congress / Senate] or the stockholders [read: the 1%] making huge amounts of money at the expense of the 99% of the citizens.

Mitt Romney has made his disdain for the middle class clear when he thought he was out of earshot of them and was with his own kind.

President Obama has made his compassion for the middle class clear. He is not in the pocket of the 1% - he is standing up for the 99%. We need a president that represents ALL the people and President Obama is that man.

Obama / Biden 2012

TO: Talk to the Hand who wrote:

[Politics of auto bailout haunt Romney in Northwest Ohio]

"Because they buy in to the Obama rhetoric..."

We were all there 4 years ago when the auto industry went bust, and we saw for ourselves that it was President Obama who saved those jobs, and the employees' retirement pensions.

I also saw Mitt Romney on TV and Romney had 2 simple words about the American Auto Industry going bankrupt: Romney said "Let them!"

So, beyond anybody's "rhetoric" we saw with our own eyes what President Obama did, and we saw how Republicans were so pissed at the auto bail out that they voted everybody who was in favor of the bailout OUT of office, and replaced the few good guys they had in the House and Senate, with those Teagagging Nuts BECAUSE of the Auto Bailouts that helped OHIO!

Obama/Biden 2012

TO: jimsepa who wrote:

"...We have had a long history of corporate welfare to bailout companies. Here are a few (copied and pasted from http://www.propublica.org/special/government-bailouts). And, imagine, some were implemented under Republican Presidents..."

Republicans just fired every one of their House and Senate Leaders that took part in the auto bailouts, and replaced them with Teagaggers who promised to create gridlock.

Obama/Biden 2012

What about Benghazi? They left our people to die who were pleading for help. The President knew this as he was meeting with the VP and Defense Secretary. He is a joke on foreign policy and he is a Muslim Extremist sympathist.

President Obama wins Ohio Easily

From the article above:

"Let's set the record straight: Jeep has no intention of shifting production of its Jeep models out of North America to China. It's simply reviewing the opportunities to return Jeep output to China for the world's largest auto market. U.S. Jeep assembly lines will continue to stay in operation," Gualberto Ranieri, a spokesman for Chrysler said in the statement posted on the automakers' blog.

Good Grief!

The Governor lied yet again.

I wish the Governor would just tell Americans the truth that his administration will bring Corporate Fascism to America thus eliminating the middle class and the United States as we know it.

Thankfully, the majority of people in Ohio are not fooled by the Governor.

President Obama will win Ohio easily on his way to over 300 Electoral Votes on November 6^th.

Salud

It's going to be so much fun to read your posts on Nov 7 when your lying candidates are finished. I'll be sure to keep a fire extinguisher next to my screen as I suspect there's going to be plenty of heat coming from those comments.

How would you like your crow tony? Broiled, grilled, fried or roasted?

Mindless insults don't cut it. Talk facts. Like these.

As a presidential aspirant, Mr. Romney evidently hasn’t felt a need to be consistent or specific as to what should have been done to address the collapse of the auto industry starting in late 2008. But the gist is that the government should have stayed on the sidelines and allowed the companies to go through what he calls “managed bankruptcies,” financed by private capital.

That sounds like a wonderfully sensible approach — except that it’s utter fantasy. In late 2008 and early 2009, when G.M. and Chrysler had exhausted their liquidity, every scrap of private capital had fled to the sidelines.

I know this because the administration’s auto task force, for which I was the lead adviser, spoke diligently to all conceivable providers of funds, and not one had the slightest interest in financing those companies on any terms. If Mr. Romney disagrees, he should come forward with specific names of willing investors in place of empty rhetoric. I predict that he won’t be able to, because there aren’t any.

Delusions About the Detroit Bailout - NYTimes.com

Obama hasn't had a chance since day one... not that liberal propaganda sites like NBC would ever admit it to their gullible sheep.

Romney Hits the 50 Percent Mark in New National Poll

"Romney's gains are clear especially in results on the economy."

"Equally important, Romney has erased Obama's customary advantage on which candidate better understands the economic problems of average Americans."

"There are other signals of Romney's gains...."

"By a broad 47-10 percent, independents say the debates left them with a better rather than a worse impression of Romney. In the same group, by contrast, just 17 percent say their impression of Obama improved - and 26 percent say it got worse."

http://news.yahoo.com/romney-hits-50-percent-mark-clear-edge-economy-210032956--abc-news-politics.html

Obama's debate performances repulsed over %50 more people than they impressed!.... and liberals still think he won the last one.

Liberals can admit when Romney won the first debate, but Mitt supporters just can muster up the honesty to admit when President Obama wins the third debate. It was a clear victory for Obama - just as clear as the first debate was a victory for Romney... But there we see the difference in supporters: Obama supporters are honest and give credit where it is due; Romney supporters are dishonest and cannot bear the thought of giving Obama credit for anything. Sad, really.

Spank and talk to the Hand Job. you are a couple of real idiots. Racist Tea Baggers. You can continue to try to defend Romney, but the Truth is the truth. The real Issue I have with your trash is the support of Sunnunu. Racist. You support a Republican party that supports racists. That makes you a Racist. Nixon used the Same "Taking America Back" Theme. Look at how big of a crook he was. your Idols are Golden Cows. Romney is a King and a God withing the Mormon Cult. The only research you do is selective at best. Cutting and Pasting from the Fox web site. The Progressives are motivated. Thank you for that. Early Voting in Ohio will deliver the state to Obama even before Nov 6th. Rape, Gods Will. Wow. You are just as guilty as those freaks who said these words, because you support them. We have bus loads Voting Early. I am so sick of you Freaks. I could go on forever about how dumb you are. The outrage when you loose will be my pleasure. You just don't have the numbers to get the Electoral count. So Go Spank and Hand Job.

See GT suffers from the same "Gremlins" Fiesty does. Post but ...............NO POST. LOL Guess he does have a couple more minutes to "lock his place" and find that copy/paste he wanted to post. LOL

Shhhhh - he's thinking.

Too bad it appears he timed out.

Ouch.

Talk to the Hack and Skanky-How come neither of you have answered the question asked about Mittens stance on any issue, You know "all of the ones he hasn't flip-flopped on?

I've seen a bunch of whimpering whiny responses, but like Mitttens and Lyin Ryan, YOU STILL HAVEN"T ANSWERED THE QUESTION?

Come on, if you answer it Donald "The Rump" will donate $5 Miilion to his favorite charity (himself!)

"I saw a story today that one of the great manufacturers of this state, Jeep, now owned by the Italians, is thinking of moving all production to China. I will fight for every good job in America. I'm going to fight to make sure trade is fair, and if it’s fair, America will win," Romney said.

What about Bainport??? They still are going to all lose their jobs at the end of this year. Bain is closing the plant, laying off all the workers, etc. Typical Bain plundering. This company is profitable. In fact, Romney's tax return shows he made $800,000.00 off it last year. But it is not enough. They are moving these jobs to China.

ROMNEY'S COMPANY IS DOING THE EXACT OPPOSITE OF WHAT HE IS PROMISING. RIGHT NOW. AS HE CAMPAIGNS ON A THEME OF "SAVING AMERICAN JOBS"!!

This is the height of hypocrisy.

Sensata develops, manufactures, and sells sensors and controls for auto companies. The Freeport plant will close by the end of 2012 with 170 positions being moved to China.

“We brought engineers and technicians into Freeport to understand the manufacturing processes. Those people will train others in the use of the equipment when it arrives at our facilities in China.”

This is corporate speak for: "We are bringing in a bunch of Chinese so you can teach them your job. Thanks. You're no longer needed. See ya."

I suggest you look up Sensata. They are already global with over 11,000 employees and when a facility can't hold it's own, what would you do? Keep dragging down the entity or move it to a place to where it could hold it's own? I hate that they couldn't keep manufacturing there for the people that worked there but you can only support the less than 1% of the people of the big picture for so long until the rest of the profit making divisions ask "Why".

American corporations have become corrupt and too powerful. Fireing American workers to hire oppressed people isn't humane. They are making record profits and not paying taxes.

Stop the corporations from punishing workers and not being accountable to their Countries!

Vote Obama

Talk,

Frankly your post is bull crap. I suggest you are the one that needs to look up information. That Sensata plant produced around $450,000 worth of merchandise last year yet HQ says that is not good enough. Who here would love to make nearly half a million in a year?

So, instead of expanding the factory to increase production and increase their profits they have decided, you know what screw you guys there in Freeport. We have workers in China that will work for 90% less than you will and guess what... you have to train your replacements!

This is what Bain does, this is their one trick pony. Buy up companies for penny on the dollar, suck the life blood out of them, then sell off the husks to China and ruin tens of thousands of American worker's lives in the process. These companies that out source to China and other nations are not American companies, they are traitors to their almighty green and paper God. If they really cared about the country that made them into what they are they would do everything in their power to keep jobs here by complying with the regulations and laws of the country and paying American works the wages they deserve and the wages we as a country need to get out of this slow recession.

Make no mistake, what grows an economy is a living wage. When you do not have a living wage, when you wages have been stagnant for years, the only place your economy can go is down the @!$%#ter. When Americans have to spend upwards of 70% of their pay checks on essentials they have no money to spend on luxuries. Capitalism relies on consumerization. This is a word I have created myself so let me explain it.

Consumerization is the process of consumption of products. When the demand for these products through consumption becomes high enough then production of the items starts up until the demand is met. Without a living wage and without the ability to spend money on frivolous things capitalism will always break down. Another way to put it is that Capitalism thrives or dies on materialism. When materialism is at an all time low your economy is going to be in the tank.

These companies that what to try and compete with the Global Market are going to destroy our economy. This is the where the real rot of our economy is located, off-shoring. While there are other factors that speed up or slow down the effect of off-shoring do not think that it has nothing to do with our issues or that other things are the central problem. Off-shoring is at the heart of why our economy is so fked up right now and until we fix it, it will always be this way. We may be able to force growth but it will be a bubble inducing growth that will result in another 2008. Even if we have legitimate growth off-shoring will always be holding growth back, always.

Until companies that engage in off-shoring realize that profits above all else produces a failed national economy and by extension a failed nation and that they are single-highhandedly responsible for this set of circumstances we are utterly screwed.

Talk to the hand

"170 American jobs, out-sourced to China, and the Sensata plant closed, despite 3rd Q net profits of $500,000,000 - $500M is apparently not enough - he needs more $$$ off the backs of workers.

why? GREED. Instead of paying American workers $17 an hour, they can...

pay Chinese workers .99.

Romney owns 51% of the stock in Sensata - he reported $800,000+ profit from Sensata on his last tax return. This is not a question of holding their own it is pure Greed. Get your facts straight.

EXACTLY!!! Romney is trading American jobs for profit. Again. At the same time, he is claiming to be a job creator. He is. for China.

wake -- you seem pretty passionate. have you wondered why obama did nothing about this when he first got elected?

what is he doing in the next term to stop this behavior?

Billybob. The reason the economy crashed was because of over leveraged investments. Obama has already fixed this. Where have you been.

Lame comment to say the best.

thanks "hand"....from you, I'll take it as a compliment!

btw - I think you meant ..."to say the least"!

and ttth had the nerve to correct me on my spelling. What a douche.

No I meant that is the best you have. And tony, you looked much better with Michelle Bachman eating the corn dog.

Talk to the Hack-You STILL haven't answered the question, but don't feel bad, you can keep ignoring the questions you don't like (like Mittens and Lyin Ryan do). Everyone reading this knows you are just a troll, hopelessly trying to defend your mentor, but sorry to be the one to tell you ,IT"S NOT WORKING. I'm sure you can find lots more of your kind over on the Dumb Fux Entertainment blog!

Don't you want to go up to him and take a swipe at him??? lol at Tagg. Or was his name 'Tulmult'??

Thank you, FlaNative! I'm honestly surprised to see Talk to the Hack still hanging around here; I noticed that after I started throwing out challenges, first all of the higher-profile wrong-wing bullies kept a very low profile and refused to take the bait, even the ones I called out by name; and second, that I literally ( a word all of the trolls know and none ever uses correctly) had to lower my language to a level they could comprehend before I could elicit a response- and what I finally did get was either more deflection or, in Hand's case, a triple-negative masterpiece of incoherent balderdash.

I was right; they ARE all a bunch of yellow-bellies. (Mark Twain, forgive me!)

Try reading up on the Community Reinvestment Act, Barney Frank, Chris Dodd, the repeal of Glass-Steagall and then say with a straight face that there was not a good deal to blame BOTH parties for with regard to the meltdown.

I lend money. I wouldn't lend money to anyone whom I knew couldn't repay me, no matter the collateral. I would though, if I knew I could sell the loan within 3 months of the transaction, with no further accountability, and retrieve all my original money plus a good profit. It's ass backward for you goofies to claim the applicants made the decision about whether they could get the loans or not. Doesn't work that way. Even government doesn't force such. Never has. The lender makes that decision. It's the lenders money. Yes, I know all about government guaranteed loans, provided the borrower meets a certain employment, income, general social worthiness, and credit history. Remember, It's the lenders job to verify these and furnish to the government agency providing the warrenty. These gwaddamn banks used warm bodies, lied about the criteria, sold the pissy loans to "Fannie and Freddie" and took the money. The better looking loans they snipped and bundled and sold to investment firms, who then screwed investors and pensioners into investing in these piles of sh^t, and took their money. Tell all the gwaddamn lies you want. I know about all this, all too well. CRA sure didn't have anything to do with any of it.

Additionally, It's hypocritical and silly as hell for you Romneites to first claim lil Georgie Bush had a great economy going, then Obama was elected and messed it all up. That's what all you dimwits yelled for years until Mitt and silly Ryan suddenly and stupidly went out claiming they could have done a better job repairing the mess than the President. How could they have fixed something that wasn't, according to them, broken in the first place? Could all of you have forgotten what you in fact claimed, before you didn't remember you had forgotten? Nothing no sorrier than a pack of gwaddamned lying cowards. Don't wallow in bullsh^t then bitch when others are offended by your odious smell. Romney is a liar and a gwaddamned fool. Ryan is a flyweight numbers scrambler of maybe an 8th grade level. Neither are worthy of the sacks of bullsh^t they each tote. I know it. Most people know it. This pair ain't gonna win.

RedDevPS*******: Give 'em hell beautiful. I'm going to bed. Have a good night. *******

Try reading up on the Community Reinvestment Act, Barney Frank, Chris Dodd, the repeal of Glass-Steagall and then say with a straight face that there was not a good deal to blame BOTH parties for with regard to the meltdown.

Oh, bullcrap! The CRA was passed in 1977. Are you seriously telling me that it took 30 years for the effects of this legislation to show?

Now, let's look at the bipartisan Congressional report by the House Committee on Oversight and Government Reform on the subprime mortgage crisis released in 2009 (summary here):

Lower down-payments led to housing prices that outpaced income growth: Once government-sponsored efforts to decrease down payments spread to the wider market, home prices became increasingly untethered from any kind of demand limited by borrowers’ ability to pay. Instead, borrowers could just make smaller down payments and take on higher debt, allowing home prices to continue their unrestrained rise. (p. 11)

The Government Sponsored Enterprises led the way into the housing crisis: Fannie Mae and Freddie Mac were leaders in risky mortgage lending. According to an analysis presented to the Committee, between 2002 and 2007, Fannie and Freddie purchased $1.9 trillion of mortgages made to borrowers with credit scores below 660, one of the definitions of “subprime” used by federal banking regulators. This represents over 54% of all such mortgages purchased during those years. (p.24)

Now, what led to lower downpayments? I refer you to:

American Dream Downpayment Initiative (ADDI) - signed into law on Dec 16, 2003.
Sponsor: Sen. Wayne Allard [R-CO]
Co-sponsors: Samuel Brownback [R-KS]; Conrad Burns [R-MT]; Ben Campbell [R-CO]; Michael Crapo [R-ID]; Michael Enzi [R-WY]; Charles Hagel [R-NE]; Lisa Murkowski [R-AK]; Richard Santorum [R-PA]; Jefferson Sessions [R-AL]

Note that there was not one Democrat co-sponsoring this bill. The bill was sponsored by a Republican, co-sponsored only by other Republicans, passed by a Republican majority in the House and Senate and signed into law by a Republican president. The biggest single thing this did was lower the downpayment for any GSE guaranteed loan to 3%. Until 2007, Bush was pushing for even lower: NO downpayment for minority loans!

Now, why did Fannie and Freddi buy up so many @!$%#ty loans?

It was under Secretary Jackson that HUD decided in 2004 to increase Fannie and Freddie's "affordable" housing goals while allowing the financial giants to continue the Clinton-era policy of counting subprime mortgages as credit toward meeting that goal. Despite Fannie's 81-percent increase in lending to minority families in 2003, Jackson chastised the organization for its "failure to lead." Jackson's pressure on the GSEs came despite the fact that regulators were growing increasingly concerned with subprime lending. The Washington Post found that "housing experts and some congressional leaders now view those decisions as mistakes that contributed to an escalation of subprime lending that is roiling the U.S. economy."

And who was Jackson?

Alphonso Jackson was named a deputy secretary at HUD a few months into President George W. Bush's first term. He became the acting secretary in late 2003, and permanent secretary in April 2004.

No, my friend, CRA had nothing to do with the housing bubble or the subprime mortgage crisis! This was strictly a Republican Recession!

Great facts there EEngineer. :0)

Newsflash:

In 2007, the UAW made concessions to Chrysler that reduced wages, overtime, and health benefits. Chrysler agreed to turn over control of retiree health benefits to a independent trust fund. Chrysler would pay into the fund, but the risks (investment income and rising health care costs) would be born by the union, rather than the company. By 2009, however, Chrysler was running low on cash and could no longer make its payments. So, instead, it offered stock. That stock is not "owned" by the UAW, nor is it a majority share. It's controlled by the trust fund and is 41% of the Chrysler shares. It also owns about 10% of GM.

Why do you think the employees are not the rightful owners of the stock they received in lieu of cash payments?

Had enuf,

Excellent post!!

Vote Romney!

The Mormon vs. The Moron

had enuf:

whats the difference if the government take it away or some private investor take it away. Either way you lose it.

There was no private money around at that time. None.

Delusions About the Detroit Bailout - NYTimes.com

There was no private money around at that time. None.

Delusions About the Detroit Bailout - NYTimes.com

That is NOT a fact. That is an unprovable assertion that has been used over and over again to try to justify the government-led bailout.

The facts speak differently. For example, Fiat (a PRIVATE company) had enough capital to take Chrysler.

The misrepresentation by those who claim there was "no private capital" is that they are equating "private capital" only with "banks". No one argues that banks were frozen up in late 2008, but private companies and investors had plenty of capital. It was simply a matter of going through a normal, legal bankruptcy proceedings to negotiate about who would get "what" and for "how much".

Need another example? Buffet put billions of private capital into GE and Goldman in late 2008/early 2009.

So to say that lending/investing had completely dried up and that there was no private capital available is a bunch of BS.

You did not read the NYTimes article did you? Steven Rattner was the man in charge of the bailout, and these are his words from that article.

As a presidential aspirant, Mr. Romney evidently hasn’t felt a need to be consistent or specific as to what should have been done to address the collapse of the auto industry starting in late 2008. But the gist is that the government should have stayed on the sidelines and allowed the companies to go through what he calls “managed bankruptcies,” financed by private capital.

That sounds like a wonderfully sensible approach — except that it’s utter fantasy. In late 2008 and early 2009, when G.M. and Chrysler had exhausted their liquidity, every scrap of private capital had fled to the sidelines.

I know this because the administration’s auto task force, for which I was the lead adviser, spoke diligently to all conceivable providers of funds, and not one had the slightest interest in financing those companies on any terms. If Mr. Romney disagrees, he should come forward with specific names of willing investors in place of empty rhetoric. I predict that he won’t be able to, because there aren’t any.

Without government financing — initiated by President George W. Bush in December 2008 — the two companies would not have been able to pursue Chapter 11 reorganization. Instead they would have been forced to cease production, close their doors and lay off virtually all workers once their coffers ran dry.

Those shutdowns would have reverberated through the entire auto sector, causing innumerable suppliers almost immediately to stop operating too.

Despite the relative health of its balance sheet, even Ford would have been forced to close temporarily, because critical parts would have become unavailable. And service providers — trucking companies, restaurants and more — would have been severely affected.

More than a million jobs would have been lost, at least for a time. Michigan and the entire industrial Midwest would have been devastated.

@enuf: "That is NOT a fact. That is an unprovable assertion..." Kind of like Mitt's unprovable assertion that his approach of relying on private financing would have worked better??

Ultimately, the President had to make an actual decision based on the advice of economists in the midst of a severe financial meltdown. We know that that decision saved jobs and allowed GM and Chrysler to get through the disaster. We know that it allowed parts suppliers to continue to sell American-made parts to American auto companies. That's the record. Mitt's claim that "he did exactly what I would have done, only I would have done it better" is unprovable. Most economists also tend to think it's also unlikely.

Now Mark, some might call that person a liar, I prefer Harry Truman's assessment, "he's a DAMN LIAR"!

Obama hasn't had a chance since day one... not that liberal propaganda sites like NBC would ever admit it to their gullible sheep.

Romney Hits the 50 Percent Mark in New National Poll

"Romney's gains are clear especially in results on the economy."

"Equally important, Romney has erased Obama's customary advantage on which candidate better understands the economic problems of average Americans."

"There are other signals of Romney's gains...."

"By a broad 47-10 percent, independents say the debates left them with a better rather than a worse impression of Romney. In the same group, by contrast, just 17 percent say their impression of Obama improved - and 26 percent say it got worse."

http://news.yahoo.com/romney-hits-50-percent-mark-clear-edge-economy-210032956--abc-news-politics.html

Obama's debate performances repulsed over %50 more people than they impressed!.... and liberals still think he won the last one.

Romney - "I have been a businessman for 25 years!"

Starting a company with Daddy's money that preys upon other companies, sucks the lifeblood out of them like a vampire, borrows huge sums of money, then lets them go bankrupt, takes the profits, lays off the workers, sells the assets, and pillages the retirement accounts is not a business.

It is organized crime.

How he could have the gall to stand up and claim credit for the auto bailout is beyond me. He is evidently a socialist, then, because what he is claiming credit for was government intervention. He wants it both ways. He is and was against government loans, but he still says it was his idea. Incredible.

So you believe the lies of the Obama campaign...they spent millions for months to trash Romney's character....go ahead and put this loser back in office.. You will be ceying soon enough.

This is no lie. Romney is shipping American jobs to China right now today. And he is saying he will keep American jobs here. Actions speak louder than words.

Romney Ignores Bainport While Trying to Take Back 47% Comments

Colin Powell endorsed Obama - that's good enough for me!

Brietbart is a RWNJ.

2 other families of the tragic attack in Libya asked the Myth & Lyin campaign to stop using this tragedy as a political tool . . . but some RWNJ's are still at it. disgraceful.

VOTE O & Joe!

What exact policies are you speaking of or are you speaking out of hate? Speaking of deceptions what of the deceptions perpetrated on this country by Bush 43 and Company. where is your outrage on that ? I guess it has something about the current administration being run by a person of color. What of the thousands of troops whose lives will never be the same because of the constant deployments and trips to the VA Hospitals ? So when you speak of deceptions, remember them also not just thelives lost in Libya.

And Colin Powell lied to the UN for GW Bush...to invade Iraq....we all know what a. Big lie it was by now.

The biggest newspaper in Utah has endorsed Obama.

The biggest newspaper in Colorado has endorsed Obama.

Colin Powell has endorsed Obama.

Colin Powell's chief of staff has endorsed Obama.

milkit - Why didn't you mention Obamas other supporters?

Vladamir Putin, Hugo Chavez, Philipe Calderon, Illegal immigrants, and Honey Boo Boo.

Can you show the quotes? Or are you just blowing smoke?

Of course he is...blowing smoke...

You don't know much about qualifications or reality do you?

P.S.

You're aware that part of Obama's gift to GM was a $15 BILLION tax forgiveness that has never been part of any public bankruptcy in U.S. history aren't you?

PJ,

Now why would you think anyone would believe you after your post above. #17.5. More BS! Without a doubt.You spew out garbage and then tell other people they are not qualified and don't have a grasp of reality. Man, you are one knuckle dragger for sure!

Same reason as O has Biden in the deep freeze. It isn't about them.

Hmmmm... I thought Ryan was supposed to be the wunderkind for the GOP. LOL

Pathetic...led down the garden path by this administration.

Obama hasn't had a chance since day one... not that liberal propaganda sites like NBC would ever admit it to their gullible sheep.

Romney Hits the 50 Percent Mark in New National Poll

"Romney's gains are clear especially in results on the economy."

"Equally important, Romney has erased Obama's customary advantage on which candidate better understands the economic problems of average Americans."

"There are other signals of Romney's gains...."

"By a broad 47-10 percent, independents say the debates left them with a better rather than a worse impression of Romney. In the same group, by contrast, just 17 percent say their impression of Obama improved - and 26 percent say it got worse."

http://news.yahoo.com/romney-hits-50-percent-mark-clear-edge-economy-210032956--abc-news-politics.html

Obama's debate performances repulsed over %50 more people than they impressed!.... and liberals still think he won the last one.

Go Mark !

For a self proclaimed 'son of Detroit', his actions sure don't seem to match his words.

Maybe he is like the Menendez brothers.

So before you guys called him an "Uncle Tom" because he did not agree with you.. Colin Powell was honorable, but when you see what went on at Benghazi. The Killings of our own. And the President did not do a thing to help out!! The President slept well that night!!! and to have Colin Powell agree with that, is NOT HONORABLE!!! Colin Powell has lost his views... It's too bad that he has to take this route. But That is what it is... Time to get this GREAT NATION UNITED!! TIME TO TIGHTEN OUR BELTS!! LETS GET BACK TO WORK... VOTE FOR ROMNEY!!!!