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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (33484)

11/6/2012 11:49:46 PM

From: koan

Read Replies (4) | Respond to of 85487

Doesn't matter. Romney did not want to rescue them with federal money at the time and Obama did.

That is the point and why Obama won. Romney was nuts not to push for saving the car compnaies straight up if he wanted to be president.

Another bad decision by Romney.

There was little money available, because the companies didn't go right in to bankruptcy as soon as it was obviously inevitable, so they used up what remained of their capital, and then the feds came in and took control of the process, shafting the bondholders. No surprise, that such facts (combined with the difficult situation generally with the economy and the financial sector), made private actors reluctant to put money on the table.