Romney Claims Bailout 'Was Crony Capitalism On A Grand Scale'

This is just one of the many reasons why I will never again buy anything made by the UAW.

CARS ARE FUN

No one likes bailouts, but this one worked and many Americans are back at work because of it. 100 times as much was directed at the financial industry and it's much less clear what we have to show for it, other than huge deficits.

I hate some of the practices of the UAW, the jobs bank, ridiculous union rules and more. But I think your hatred of the UAW only plays into the global aspirations of Detroit's competitors.

If you've done business in South Korea, then you'd know the government subsidies their auto industry and non-Korean cars are often vandalized in broad daylight because of the Korean's hatred of anything competing with their own industries. Most foreign competitors play by one set of rules in the US and a completely different set of unfair rules in their home markets - which are designed to disadvantage American manufacturers.

I'm wary of the UAW and much of the past behaviors of the Detroit 3, but I hope for all of our sakes, they keep producting better cars and help Americans get back to work.

Hurray, MarathonBob--an articulate and multi-sided view.

The government stepping in was pure corruption at its best, follow the money.

If the government stepping in was pure corruption, what was it when Bush and Cheney spent 5x as much bailing out the banks?

Saving Detroit, saved the jobs of regular, every day Americans. Bailing out the banks allowed CEOs and Executives to continue collecting millions in bonuses and STILL hold the economy hostage by not issuing loans.

I have no idea why anyone who's not filthy rich would vote for today's Republican party. I've voted for them in the past, but they did not stand for the things they do today.

But of course most people spend their lives blindly follow one party or the other never voting their own interests.

Have fun with Mitt Romney, you really deserve him, it makes me giddy every time I think about it..hehe

Stone,
Both Bush and Obama voted for the bank bailouts and auto bailouts. Yes it saved jobs, but it also violated bankruptcy laws when the UAW got to the front of the line after the bankruptcy restructuring. Along with Solyndra and other freebies to companies, this administration is practicing crony capitlism at its worst. We have not had a good president since Reagan. All of those after him have done nothing but take care of those who brought them into power--Wall Street and unions. Don't be fooled that President Obama hates Wall Street. They have given him more money than any other president in history, and many who works in his administration are from Wall Street. It is so hypocritical to say these "fat cats" are so bad and hold fundraisers after fundraisers with these same people. I don't dislike the rich. I hope to get there some day. I just hate to see our president divide instead of uniting America. He is not just diving us by class, but also left vs right and minorities vs. whites.

I disagree, and this is something I've studied extensively. The Bank bailouts were well underway when Obama took office. There was no way he could change direction (not that he would if he could). Trust me, I know where Obama got most of his funds, but the facts are they are NOT supporting him this time around, they know Mitt Romney will be more sympathetic to their cause.

What I really disagree with is Obama dividing this country, this is Republican rhetoric and nothing more. There has never been a more obstructionist Congress in the history of the US. Obama-care is the root of all evil yet, no one has ever tried to do anything about our busted healthcare system, the Republicans certainly did not. I don't necessarily agree with the way it's implemented but be honest with yourself, we've had universal healthcare in this country for decades, it's called the Emergency room and it's one of the reason we have the most expensive healthcare system in the world and not the best guaranteed outcomes. Something had to be done, don't demonize Obama for actually doing something even if you don't like what he did.

I love how it's stated that Obama is dividing us by class, race or whatever else people come up with. The fact of the matter is we were never united, electing a 1/2 black guy didn't fix anything. Please don't deny the fact that the Republican party has done absolutely everything they can to make the public believe Obama is simply not like us. From the birth certificate, to the secret Muslim rhetoric it's clear to me Republicans hate who he is, not what he's done. The Republican Party is playing to the inner racist of their base, it's disgusting and sad which is why I can't support them. The divisions you speak of have been around for decades and they've become MORE evident with the election of the 1st AA president.

As far as being rich, it's admirable to strive for financial freedom and I wish everyone success, but if you aren't rich already, there's nothing the current Republican Party can or will do for you, I guarantee it.

I'll end this novel with your statement about Regan. I agree he was a great President, I voted for him in my very first election. Now be honest and admit that he would NOT be popular with today's Republican & Tea parties. Don't forget that Regan raised taxes multiple times during his administration and supported immigration reform that included amnesty. In today's Republican party, he'd be labeled a left leaning moderate at best and a closet liberal at worst.

As I stated in another post, I'm a card carrying independent and I can provide a scanned copy of my voter registration to show that I've been that way for well over 20yrs.

I'm sorry, but the Republican Party in it's current incarnation does not represent me and unless you ALREADY have a significant income, they do not represent you either, they count on your short term memory to remain effective. All of a sudden Obama is responsible for e

Exactly what would Romney had done that would have been soooo much better the country at that time? When you are campaigning and trying to get votes, you will say or even do whatever it takes to get them. Mr. Romney, back up and come again!

Stone,
You are wrong that Obama did not voted for the bank bailouts. On 10-1-2008, he and McCain came back to Washington during their campaigns to vote yes for the bank bailouts. He received over $9.5 millions from Wall Street investment and banking sectors, while McCain received over $5.3 millions. He has raised over $15.8 millions from wall Street, which is more than any other politician in history. The only reason he is not raising as much as Romney is because he speaks to poorly of them. Even the rich hates a hypocrit.
As far as obstruction from Congress, I believe that is what the majority of Americans who overwhelmingly voted them in in 2010 wanted. They wanted them to stop his agenda after "Obamacare". You are right that something needs to be done to bring the cost of healthcare down, but this will do nothing but raise it even more. My family's health insurance premiums has gone up since "Obamacare' was passed. Common sense should tell you that it will continue to go up when you add 50 miilon people to it. Some of which will not get it until they get sick.
We may not have been united before Obama, because I remember Democrats and the media calling Bush and Cheney all kinds of names. I believe Obama is making it worse by using the class warefare, race card, and political party demegogary. There are crazies in the Republican party like there are in the Democratic party. I don't listen to those birthers like I don't listen to the socialists and commies in the Wall Street protesters. There are extremes in both parties.
I'm not relying on either party to help make me rich. I will do that on my own. I just don't believe that taxing anyone more will help me. It will only help the government spend more money on things I disagree with like Solyndra.
I believe the current republican party will accept Reagan. He will win them over with his charm and common sense talk.
I'm not a Republican. I'm an Independent who is fiscally consevative and socially moderate. I believe in a smaller government than the one we currently have. I believe in a gay person's right to marriage and a woman's right to abortion. I was a Democrat in college, but I left the party 12 years ago. I see everyday what handouts have done to the people who I work with and live near. I see our education system going downhill. I hate that I will have to send my son to a private school to get a good education. My family came to America in 1980. It has declined so much due to increase in government, but that is another argument for another day. GOD bless America!

How can anyone trust a guy like Romney when he has changed his positions on issues more then ANY other candidate for president. Also how can you trust a guy that worked for a company known to destroy and sell off assets of other companies for profit. How can anyone struggling in this economy relate to someone who felt that $378,00 in speaking fees is not a lot of money.Romney made the assumption that GM and Chrysler would have been able to get banks to lend them money in 2008. What banks do you know of in 2008 that were loosening credit to companies or individuals?The answer is none. That fact alone is what started the final death spiral for Chyrsler and GM. Yes Yes those 2 companies were poorly managed for a number of yrs. However when banks stopped lending money to average individuals with average credit car sales dried up even for Ford let alone GM and Chrysler.When Romney talks about the manged bankruptsy in reality companies like Cerberus or probably Bain would have taken GM's and Chrysler's asset's and sold them out piece by piece. Because the government stepped in that's why Romney is really upset. Bain was cut out of a potentially lucrative deal and Romney's net worth did not increase enough because of this.This is what Romney's version of managed bankruptsy would have been like.Yet many more millions of people would have been out of work. Look I beleive that Obama's timing on trying to reform healthcare was wrong. Further it has not controlled rate increase by insurance companies.That is the one fundemental thing I disagree with Obama on.Also the payroll tax cut, the mortgage refinancing that he is talking about now should have happened sooner. To me that is a positive thing. Further his covert operations in the Middle East I strongly approve of.There is nothing any Republican candidate running for president has said(other then some of Ron Pauls ideas)I agree with.Republican conservatives have somehow brainwashed a lot of struggling people in this country that supporting the wealthy will benefit them.It never has happend that way and never will. Given the oppotunity large companies only scale back or outsource to improve their bottom line. And why should large oil companies get tax breaks?The rich can afford to pay a lot more in taxes. Historically since the 1950's the rich have paid in huge percentages on tax rates yet they still invested in the America.By congress abolishing Glass Steagal they opened up the floods gates for Fanny and Feddy, as well as wallstreet firms to engage in poor business practices that lead to the financial crises.They cannot be trusted just as a guy like Romney cannot be trusted.