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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: PROLIFE who wrote (680445)

10/23/2012 12:20:33 AM

From: puborectalis

Read Replies (2) | Respond to of 1576642

OBAMA: "Gov. Romney, you keep on trying to airbrush history here. You were very clear that you would not provide government assistance to the U.S. auto companies, even if they went through bankruptcy. You said that they could get it in the private marketplace. That wasn't true. They would have gone through a liquidation."

THE FACTS: It's true that Romney didn't preach liquidation of GM and Chrysler and that he saw his approach as a way to save the auto companies. But his was an improbable course. Opposing a government bailout, Romney instead favored private loans to finance the automakers' restructuring in bankruptcy court. His proposed government loan guarantees would only have come after the companies went through bankruptcy. At the time, however, both automakers were nearly out of cash and were bad credit risks. The banking system was in crisis and private money wasn't available. So without hefty government aid, the assets of both companies probably would have been sold in liquidation auctions.

Just in from CBS: President Barack Obama looked to be the clear winner in tonight's presidential debate, at least according to one instant, "snap" poll.

Obama beats Republican Mitt Romney 53 percent to 23 percent in a sample of 521 debate-watchers, according to CBS.

Twitter/@CBSNews

To put that in perspective, it's a bigger win for Obama in this debate than it was for Romney in CBS' post-debate poll of the first debate.

Read more: businessinsider.com