Romney On Detroit: ""I am not open to a bailout, but I am open to a work-out."

Mitt Romney, former Governor of Massachusetts, a Mormon (Latter-Day Saint), and one of the top 2008 Republican presidential candidates, is currently "widely considered to be a 2012 presidential contender," according to a November 24 ABC News article. Romney also said what some considered to be shocking remarks about the bailout of the auto industry in Detroit, Michigan.


"Romney is strongly opposed to the auto industry's request for $25 billion in low-interest loans. He is calling for management shakeups inside the companies as they engage in extensive economic restructuring, and is recommending bankruptcy or similar legal arrangements for America's auto giants."


"'Just sending a check and hoping for the best is not the right choice,'" Romney told ABC News.com Friday, in between campaign stops in Georgia, where he was campaigning for Sen. Saxby Chambliss' re-election.


"'Simply patting the sick patient on the back and saying don't worry, everything will be fine -- that is not the right course for the auto industry,'" Romney said.


"In January, he delivered a speech to the Detroit Economic Club that included this line: "'I am not open to a bailout, but I am open to a work-out.'"
'That's what I said then; that's what I'm saying now,'" Romney said Friday.


Thanks to Romney Prescribes Tough Love for Detroit for the above quotes.
Opposition to Auto Bailout Comes After Populist Push in Michigan Primary
By RICK KLEIN Nov. 24, 2008


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