Romney’s Auto Rescue Claims Don’t Hold Up: “I just think he’s somewhere out in the ionosphere.”

[SunsetDreams]

With the general election in full swing, Mitt Romney is tacking to the center on the auto rescue with furious speed, with a top spokesman and then Romney himself both claiming he deserves a big “thank-you” for saving Detroit.

He doesn’t.

“I pushed the idea of a managed bankruptcy, and finally when that was done, and help was given, the companies got back on their feet,” Romney told a Cleveland TV station while visiting a local auto plant Monday. “So, I’ll take a lot of credit for the fact that this industry has come back.”

...

“I’ve read, I think, everything Romney’s had to say on this subject, and the level of flip-flopping and dissembling is truly mind-boggling,” Steve Rattner, the “auto czar” who advised the White House on the auto rescue, told TPM. “He’s been on every side of the auto rescue at different times and said different things, so it’s hard to know what he honestly thinks.”

...

“Mitt Romney is on a hook of his own making because of his vocal opposition to the auto rescue, which saved General Motors and Chrysler from liquidation and prevented hundreds of thousands of job losses in a vital industry,” Levin said. “Governor Romney should have the courage and integrity to say he was wrong instead of trying to pull off another flip-flop.”

http://2012.talkingpointsmemo.com/2012/05/romneys-auto-rescue-claims-dont-hold-up.php?ref=fpnewsfeed

He doesn't know what position he will take from one minute to the next, just makes me want to sing "Flip The Magic Romney Flopped By The Sea".

Sung to Peter Paul & Mary - Puff the Magic Dragon feel free to add more words

[tanyev]

1. At last, a clue to the location of Kolob.

[SunsetDreams]

2. See also romneyflops.com

'It was not my desire to go off and serve in Vietnam.' [1]

'I longed in many respects to actually be in Vietnam and be representing our country there.' [2]

http://romneyflops.com/

[liberal N proud]

3. Next he will claim credit for killing Bin Laden

[bluestate10]

4. Romney is a born liar.

He lied about being the person that created jobs when him and Bain capital were mere minority, non-management participants. Romney had no control over decision making as a minority investor, nor did Bain. The Obama campaign must evicerate Romney every time Romney spills a lie, the Obama people will get several chances per day.

[aint_no_life_nowhere]

5. Chapter 11 bankruptcies offer protection against creditors

and the corporation must bring its assets before the bankruptcy court and the judge supervises a rescheduling of debt payment. And if that rescheduling and restructuring falls through and the corporation can't stick to its modified repayment plan, the judge can order the corporation into a chapter 7 dissolution (i.e. corporate death). When Romney talks about a managed bankruptcy he means a chapter 11. But in a chapter 11 there's always the inherent risk that the corporation will not succeed in getting through the bankruptcy process and will have to file for chapter 7 involving a liquidation of assets and dissolution. In GM's case, it was clear going in that the chapter 11 would fail unless the corporation had access to borrowed capital. And no lender was lending. Since Romney opposed the government loan, he was de facto advocating a chapter 7 which would have meant the death of GM.

[Scurrilous]

6. K & R