Romney avoids mention of bailout at Detroit event
February 16th, 2012
03:06 PM ET
6 years ago

Romney avoids mention of bailout at Detroit event

Farmington Hills, Michigan (CNN) - Hours after Detroit automaker General Motors reported the largest annual profit in its history, GOP presidential candidate Mitt Romney said he was "delighted" the industry was profitable.

"I love American cars, and long may they rule the world, let me tell you. I want them to do well," Romney said at a chamber of commerce meeting in Farmington Hills, Michigan, later adding of the industry: "I'm delighted it's profitable."

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But as his opponents have repeatedly pointed out, Romney opposed a federal bailout largely credited with pulling the struggling industry out of collapse.

In his speech to a friendly audience of more than 400 people, Romney did not mention his opposition to the bailout. Instead, he repeated an assertion that he had recommended the path taken months later by the Obama administration.

"I love the auto industry. I want to see it thrive and grow," Romney told the audience. "I'm glad it went through a managed bankruptcy process, which I recommended from the very beginning to shed unnecessary costs and get its footing again."

Romney has said he would have solicited private financing to inject capital into Detroit auto manufacturers.

In an unspoken reminder of the uneasy politics of his stance - a highly-charged position in Michigan ahead of the state's February 28 primary - on Thursday Romney accepted the endorsement of state Gov. Rick Snyder, who has said the bailout was effective in helping turn around GM and Chrysler.

Neither man made mention of their difference in opinion.

"We have the right man here to help lead our country, but there's a special bonus. He was born and raised a Michigander," Snyder said of Romney. "He understands our state. He's one of us."

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Filed under: 2012 • Michigan • Mitt Romney
soundoff (64 Responses)
  1. Andrew

    Too late Mittens! You have been pushing the anti-bailout speech all week. People in Michigan have TV and Internet too...

    February 16, 2012 03:09 pm at 3:09 pm |
  2. cali girl

    Really happy there Mitt? Say what you want. The GM employees and company heads will remember you with lots of nothing and no votes. Gov Snyder should watch out for his own re-election.

    February 16, 2012 03:11 pm at 3:11 pm |
  3. vic , nashville ,tn

    He has to avoid or give a credit to Obama

    February 16, 2012 03:17 pm at 3:17 pm |
  4. mrindependent

    This guy is a big flip-flopper. Until a month ago he was blaming obama for detroit bailout when he was campaigning in iowa, south carolina. Now he says obama took his idea which made gm profitable. According to his ny times article, he wanted gm to go bust. This guy cant even be trusted to be a janitor. I cant believe I am saying this, but right now my preference is Ron Paul > Santorum > Obama > Gingrich > Romney.

    February 16, 2012 03:17 pm at 3:17 pm |
  5. GOP = Cheap Talk

    Romney still spewing cheap lines like anybody really cares. Good luck GOP! Good thing he won't be the next POTUS.

    February 16, 2012 03:18 pm at 3:18 pm |
  6. susan

    Romney needs a political bailout.

    February 16, 2012 03:20 pm at 3:20 pm |
  7. GI Joe.

    Yep – if it's profitable, when he goes in and tears it apart and ships every job overseas, it will be more money in HIS pockets.

    February 16, 2012 03:21 pm at 3:21 pm |
  8. Data Driven

    Ha ha, how absurd. What "private" financing is he talking about? From whom? The big banks who also needed a Federal bailout?

    Romney was wrong to a colossal degree about the auto bailouts. In the uncertain event of his nomination, Americans will be asking themselves what else he's colossally wrong about.

    February 16, 2012 03:22 pm at 3:22 pm |
  9. GI Joe.

    Just how much money does it cost for a Mormon to get into his heaven? With what he has, I'd be hiring people left and right, and still have money left over to help the poor and the homeless vets.

    February 16, 2012 03:22 pm at 3:22 pm |
  10. Bill

    You are toast Mr. Brylcreem.

    February 16, 2012 03:23 pm at 3:23 pm |
  11. Dave

    All the mormon superpack money in the world wont buy you a personality. The fine people of Detroit can see right thru your plastic exterior.

    February 16, 2012 03:24 pm at 3:24 pm |
  12. Anonymous

    LOL! As if MIchigan is going to forget what an anti-worker, anti-union, anti-bailout elitist Rmoney is.

    February 16, 2012 03:24 pm at 3:24 pm |
  13. GI Joe.

    They aren't there to listen to his lies, they're there to see a freak show. Ever circus has one.

    February 16, 2012 03:25 pm at 3:25 pm |
  14. edog

    Mitt is just straight out lying! This flip flopper will say anything to get a vote. He is lying when he says he would have found private financing to help with the "managed bankruptcy". Who in the world would have financed that right after Lehman Brothers went belly up and major banks did not even know what they held on their own books. The only one with deep enough pockets that stepped up was Warren Buffet, and he only bought warrants for Goldman Sacs!! That means, the only "private' capital available at the time was for big banks!! No one would have invested in the Auto Industry at that time. That is why the government needed to step up, and OBAMA did!

    Any blue collar worker who votes for Mitt is an idiot!

    February 16, 2012 03:26 pm at 3:26 pm |

    Delighted are you? For what? You had NOTHING to do with their current success.

    February 16, 2012 03:26 pm at 3:26 pm |
  16. Katie B from NC

    Can someone please explain the difference between a "bailout," which Mitt was against, and the "managed bankruptcy" he favored?

    February 16, 2012 03:26 pm at 3:26 pm |
  17. Jamie from Riverside

    I bet (but not $10,000.) that Mitt Romney has been dreading Michigan due to his on record remarks that he would have abandoned the auto industry.

    February 16, 2012 03:27 pm at 3:27 pm |
  18. rcw

    GM stock is around 24 bucks a share, it has to hit 53 bucks for the taxpayer to break even. The auto union received 6 Billion from the bailout. The shareholders lost everything. Under a bankruptcy the auto industry would have survived, but at no cost to the taxpayer.

    February 16, 2012 03:27 pm at 3:27 pm |
  19. Dave

    Rick, keep up the Saturday Night Live ads. This guy really deserves the mud right back out him. Mr. Personality aint goin nowhere after The Michigan Thumpin. A liberal, a conservitive & a moderate walk into a bar, They all say HI MITT

    February 16, 2012 03:29 pm at 3:29 pm |
  20. Keyser Soze

    Just pretend it didn't happen Willard. Too late, no wonder why the weathervane is polling so poorly lately

    February 16, 2012 03:30 pm at 3:30 pm |
  21. cheese

    This man is an out right lier. Gop never. Obama biden 2012

    February 16, 2012 03:31 pm at 3:31 pm |
  22. a934222

    This guy is an embarrassment for the GOP, he trashed Obama for the Bailout for a couple of years now, Today, he says it was his idea. Embarrassing!!

    February 16, 2012 03:34 pm at 3:34 pm |
  23. westward

    Michigan – If the auto industry were forced into bankruptcy in your state -and it would have if Romney would have had his way – not only would your state would have folded up and become a ghost-town state, but most of the nation would have too.

    He in no way would represent you well, or does he even care to. He is not one of you, nor is he one of any of the middle class, in any state.

    February 16, 2012 03:34 pm at 3:34 pm |
  24. Dave

    I will never foget the time I was asked to join the Mormon cult in St George. I said sure If you guys get a black elder, that coversation needless to say ended ubruptly & they walked away!!!

    February 16, 2012 03:34 pm at 3:34 pm |
  25. Tired of republican lies

    Friggin hypocrite...that is why President Obama will win another term...after weasles like you that spout the bs you regurgitate....We see where you are coming from.

    February 16, 2012 03:36 pm at 3:36 pm |
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