Contrary to the fantasy world that occupies Willard Romney's head, had we followed his lead on the auto bailout, my home state would be a wasteland right now, comparable to the Dakotas or Montana. There was no private equity funding available, and one can rest assured that had he been leading the charge, the "Detroit car guy" would have destroyed the UAW, and with it, any hope those of us not fortunate enough to be born into a wealthy family had for decent wages. And heaven forbid any of those at the top paying for their mistakes like the rest of us would have with a pink slip.
Contrast the Romney "plan" (i.e., "Let Detroit go bankrupt" regardless of any claims he makes in retrospect), with the precision with which the Obama administration handled the auto industry bailout. They had a plan and they worked that plan--moving in quickly, setting people in place, seeing that GM's Rick Wagoner got the boot (as well he should have), making the auto leaders put forth a viable plan for going forward profitably, and making sure that the workers were taken care of.
The results speak for themselves--the Big 3 are profiitable, selling more cars, and most important, hiring. Millions--fucking millions--of jobs have been saved, not just in the auto industry proper, but in all the peripheral industries as well.
The move was not popular (except in states like here in Michigan) and, again, took a political courage that Willard Romney just flat out lacks. Barack Obama handled what could have been a disaster for the American economy with grace, poise, and confidence.
One kinds of doubts the head of Bain Capital would have done the same: it would have been a big going out of business sale as our economy collapsed, with Willard leading the marching band.
Peace,
emaycee
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