So what is the truth regarding the “let Detroit go bankrupt” lie?
Obambam accused Romney of wanting to liquidate Detroit, which is entirely different from bankruptcy.
Romney advocated a managed bankruptcy, like many other successful companies have gone through, which would allow them to lay off otherwise untouchable union workers, among other beneficial changes. After you get through that process, Detroit would have emerged from the bankruptcy in much better shape to be competitive.
Romney advocated having the government guarantee loans to them under those circumstances.
As it turned out, Obambi threw a huge, taxpayer-funded bone to the unions and kept Detroit as bloated as ever with UAW blubber holding them down.