25 May 2011

NOW what do they think of the Auto "Bailout"?

With the recent repayment by even Chrysler of the balance of its Federal loan guarantees and the restoration to profitability of the US Auto Industry, which by all accounts was facing collapse before the president took bold action to ensure its survival, I trust those, like Republican Rerun Presidential Candidate Romney, who were heard loudly proclaiming at the time that "Detroit should go bankrupt," will now apologize for having been so obviously very wrong.

Incidentally, the CEOs of GM and Chrysler were shuffled out the door, and the unions agreed to massive givebacks. I've noted no comparable sacrifices from Wall Street execs and employees, who caused the financial meltdown that almost destroyed our economy.

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