We have heard a lot from democrats, especially during their convention,
about how Obama saved the auto industry from bankruptcy, which the evil
Romney would have allowed to happen. This story has become perhaps the
central theme in the narrative about Obama's successful stewardship of
the economy. But as the article below points out, Americans have a
remarkably short memory. Chrysler and GM did in fact go through managed
bankruptcies, as Romney suggested they should. The difference is that
Obama wasted a lot of taxpayer money before it happened, and screwed
secured bondholders in the process so he could help out the unions.
I pass this along in case one of your liberal friends tells you that Obama is the auto industry savior he claims to be.
Obama DID let Detroit go bankrupt.
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