Been wondering how Mitt Romney would explain his opposition to the 2008-2009 federal bailouts that saved General Motors and Chrysler from a devastating bankruptcy?
Last week the frontrunning Republican presidential contender compared his work at Bain Capital, a venture capital fund, with that of President Obama in offering federal taxpayer assistance to two domestic automakers. Mr. Romney in a 2008 guest editorial had opposed a taxpayer-funded bailout for GM and Chrysler, a position that is expected to create problems for him in places like northern Ohio with a lot of auto company employees if he wins the GOP nomination.
Here's The Los Angeles Times's take:
This week, in an interview on CBS, Romney defended himself against critics of his work at Bain Capital by equating what he did as a corporate restructuring specialist with Obama’s temporary takeover of General Motors and Chrysler in 2009. “In the general election,” Romney said, “I’ll be pointing out that the president took the reins at General Motors and Chrysler – closed factories, closed dealerships, laid off thousands and thousands of workers – he did it to try to save the business.”