• dan detroit avatar dan detroit Posted: 5/26/2011 5:07am PDT

    Romney favored a "managed" bankruptcy, which is exactly what was necessary, and what happened. The hole in the "standard" bankruptcy argument is the reality that the auto collapse was the direct result of the Global Financial Crisis and resulting credit freeze. Not only were consumers unable to finance new car sales, no commercial credit was available forcing GM and Chyrsler into the arms of Government as the only entity capable of providing the immense funds necessary to cover the cash burn of the Q4 '08 and Q1 '09.

  • Jim Leonard Posted: 5/25/2011 11:27am PDT

    Just one more example that ideologues are science-, economics-, business-, and independent-thinking-illiterate. They don’t have a clue what the manufacturing base is. Or how mfg and innovation interact to create wealth. Expect Jon Huntsman to have a more enlightened view.

  • hi100 avatar hi100 Posted: 5/25/2011 11:17am PDT

    Where are the comments posted??

  • hi100 avatar hi100 Posted: 5/25/2011 11:05am PDT

    The GOP did not support Detroit because the union support to the other party. First, GOP is not a middle class party, it is for the rich and Chamber of Commerce businesses types. Why do you think we have an illegal problem--Chamber of Commerce wants cheap labor for their members and to help destroy unions.
    In the future, Union members would best be service, if they go out of their way to defeat GOP members.
    GOP is not YOUR FRIEND or a FRIEND of MIDDLE CLASS VOTERS.
    Look what that stupid senator from Tenn. did and he had all those GM plants in his state. OH, he was for the foreign auto makers and for bailing them out.
    THESE SENATORS , if we were fighting WWII today, would vote against AMERICA'S and USA interest.