Democratic Super PAC American Bridge 21st: Detroit is Back: No Thanks to Mitt

[SunsetDreams]

Detroit is Back: No Thanks to Mitt

In New Op-Ed, Romney Reiterates ‘Let Detroit Go Bankrupt’

Two weeks from today, voters in Michigan will hit the polls for the state’s Republican presidential primary, where native son and former Massachusetts Gov. Mitt Romney — once thought of as the GOP’s inevitable nominee — is now trailing former Pennsylvania Sen. Rick Santorum. Romney’s father, George Romney, is a former governor of Michigan and was the CEO of the now-defunct American Motor Company, a Detroit-based automaker that was once one of the biggest in the world.

Romney has often played up those ties on the campaign trail — he won Michigan’s primary in 2008 — and attempted to use them to his advantage three years ago when he penned a New York Times editorial titled, “Let Detroit Go Bankrupt.” The editorial was a response to President Obama’s plan to rescue the American auto industry, and as evidence has emerged that Obama’s rescue plan worked, Romney had attempted to claim that he came up with the idea first.

Ahead of the primary, though, Romney published another editorial on the rescue, this time in the Detroit News, in which he renewed the “Let Detroit Go Bankrupt” call he first made in 2009...

In the editorial, Romney, whose former company profited from a government bailout, called on the government to sell its shares in GM and return the profits to taxpayers. In other words, Romney is fine with destroying the company when it isn’t succeeding, but then wants to seize its profits if it turns around.

http://thinkprogress.org/economy/2012/02/14/424857/romney-detroit-bankrupt/

Romney op-ed: U.S. autos bailout 'was crony capitalism on a grand scale'