Mitt Romney Pens Detroit News Op-Ed On Big Three Bailout
Republican Presidential candidate Mitt Romney published an op-ed in the Detroit News calling the auto bailout “crony capitalism on a grand scale.” Boasting of his Michigan roots, Romney takes the Obama administration and the UAW to task for what he suggests is a symbiotic relationship between the two that allowed the union to get stakes in GM and Chrysler. In short, nothing new from the man who is running an election that is a referendum on Obama’s presidency.
Readers of TTAC will recognize that Romney’s explanation of the bailout and his own suggests are a sort of “For Dummies” executive summary of what went on, and his suggestions for improvement, like the feel good rhetoric about the resurgence of the Motor City are nothing we haven’t heard before. Buried towards the end is the one major piece of the article, with Romney suggesting
The shares [in General Motors belonging to the Treasury] need to be sold in a responsible fashion and the proceeds turned over to the nation’s taxpayers
More by Derek Kreindler
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Romney's campaign slogan shold just be "Ignorance is bliss". I don't see him saying the same things about his biggest campaign contributors that were truly "bailed out" (Chase, Sachs, etc.)
I can understand why the bailout happen. Had Chrysler and GM gone Tango Uniform at the same time, they would have dragged down the entire US OEM parts supply chain. Without that supply chain, Ford would have died, or skipped off to Europe. The foreign makers would have repatriated to their respective countries. Millions of people unemployed here in the US, cost of new cars would have skyrocketed. The economy would have gone into a death spiral. The problem with the bailout is that it required no structural reform of the auto business. If you're "too big to fail", you're too big to exist. That's the real crime behind all this bail out stuff. Money with no strings attached.
...1000′s of Ontario health cards held by US citizens who live in border states. They come up for regular visits for the free health care...... "free" health care? There is no such a think as "free" health care !!! Canadian provinces pay more than 50% of their budget for health care. Gypsies from entire world are moving to Canada, because it is the most socialist country in the world, where they can abuse "free" health care system.
…I live in Ontario, and there are 1000′s of Ontario health cards held by US citizens who live in border states. They come up for regular visits for the free health care… That is not a truth. You need to be Ontario permanent resident to get Ontario health card. That is the law. I never met one US citizen, who would try to obtain Canadian citizenship just because of health card and then he would cheat and pretend that he is living in Ontario just because of free health care. It would be a fraud. “1000′s of Ontario health cards held by US citizens” is a lie. When people buy smart phone they check FACTS- what is better for me iphone or android ? When health care is government thing, it becomes political issue and they don’t listen to facts. They just lie. And the same thing is happening to “government motors”. Once it becomes political issue, many people don’t want listen how many subsidies the government motors gets, they don’t listen to facts.