Posted on 06/01/2009 8:47:48 PM PDT by Saundra Duffy
WASHINGTON -- Former Massachusetts Governor Mitt Romney, whose father was an auto executive during the industry's post-World War II heyday, today called GM's bankruptcy "a sad day" for the nation as well as "a son of Detroit" like himself.
Romney, who made millions as a venture capitalist and whose business acumen helped rescue the Salt Lake City Olympics in 2002, also offered an "I told you so" to the Bush and Obama administrations, blaming both for wasting "billions upon billions" of taxpayer dollars trying to save the nation's largest auto manufacturer.
Rather than spend vast sums to keep it afloat, Romney said, the White House under Bush should have followed his prescription from last year's GOP primaries and pointed GM to bankruptcy court, which would have saved money and put the corporation back on the road to recovery much sooner.
(Excerpt) Read more at boston.com ...
Romney would have been great in our ailing economy.
We certainly need the “turn around artist” now.
I’ll give credit to Romney on that, he’s absolutely right.
I agree 100% with Romney on this.
He’s right. And many here (including myself) said this months ago.
I know some conservatives do not like Mitt but I think he could have turned GM aorund, saved a lot more jobs and found a more market oriented solution.
Capital fled the USA on the expectation O was going to get elected. The economy almost just stopped after he was elected. People just stopped spending.
I think Thompson - Romney would have been a good team and Fred could have told Mitt to lose his RIno tendencies.
The foolish UAW rank and file would have been much better off with Mitt as President.
GM is over. I will never buy anything they make.
Thank you for your reply. Romney should get credit for saving the Olympics. Thanks again.
I said the same thing last year.
This isn’t breaking news!
“I agree 100% with Romney on this.”
Ditto. And it takes guts to say so.
I don't know about that, but at least he would have let it die, and let it's assets be purchased by other investors, without having to stick it to the taxpayer.
“GM is over. I will never buy anything they make.”
Me, too. I am so mad over this I could spit nails!! Obama is an evil dictator and the UAW can kiss my grits.
Sorry yeah turned around would have been next to impossible. These companies return on capital is so low it is really not worth it. I think he could have found investors to take it over or recapitalized it in some way or sold or merged it.
The UAW and Obama will now try to destroy Ford.
I will say, I don’t think Romney is the monster people make him out to be. I would not have voted for him, but hey, he looks positively Churchillian in comparison to the current occupant of the Oval Office.
I guess that is called “damning with faint praise” though. Obama makes someone like Carter, Clinton or McGovern look like Harry Truman in comparison.
“This isn’t breaking news!”
Published today. Not getting much attention, though.
I hope NASCAR fans decide to ignore or not support Govt Motors or Chrysler Govt Motors.
Exactlyyyyyyyyyyyyyyyyyyyyyyy!..Why didn’t GM just go ahead and bite the bullet without involving the US Government?????? GM should of just gone belly up, without involving the taxpayer. Now the Taxpayer gets to be the one who gets handed the bill for the failure of GM. GM loses, and the Taxpayer..a double whammy. It sucks.
Duh—they should have negotiated a planned reorganization through the bankruptcy court like last December and by now, all the excess would be trimmed off and GM would have the money to accelerate the arrival of several important Chevrolet models that will revive GM: the Spark subcompact “sports” hatchback, the next-generation Aveo hatchback/sedan, the Cruze sedan and the Orlando MPV.
I’m one who did, however, his recent endorsement of the moderate Republican gubernatorial candidate here in NJ, instead of the true conservative one, Steve Lonegan, has made me re-think him completely.
Breaking: Romney changes position....
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