February 23, 2012
Will Mitt Be Straight About Auto Bailouts?
Jonathan Cohn, The New Republic
Are you getting tired of parsing Mitt Romney’s statements about the auto industry rescue? I am. But Romney makes it impossible to stop, because his position keeps shifting. As Tom Walsh, columnist for the Detroit Free Press, put it recently:
During Wednesday night's CNN debate, with Michigan's primary less than a week away, he was at it again.
To review the history – skip ahead a few paragraphs if you’ve heard this already – Chrysler and General Motors came to Washington in late 2008, unable to pay their bills and desperate for federal help. Normally, companies in such desperate straights would have declared bankruptcy, then turned to the private sector for money to finance reorganization.
But this was the middle of the financial crisis: The...
TAGGED: Bailout, Gm, Jonathan Cohn, Mitt Romney