10-27-2012, 03:26 PM
RgrF wrote:
All this make the Detroit Daily News endorsement of Romney somewhat puzzling.
Not really. That paper is conservative and has rarely failed to endorse the Republican candidate. They had this to say about the auto bailout (hello samintex)
Thank Obama for auto rescue
Don't assume that it was a no-brainer for a conservative newspaper to endorse a conservative presidential candidate. We recognize and are grateful for the extraordinary contribution President Obama made to Michigan in leading the rescue of General Motors and Chrysler. Had either of those companies been allowed to go under, Michigan's economic maladies would have become fatal.
The president stepped up with the support the two automakers needed to keep themselves and their suppliers in business. We have said in past editorials that while Romney rightly advocated for structured bankruptcies in his infamous "Let Detroit Go Bankrupt" New York Times op-ed, he was wrong in suggesting the automakers could have found operating capital in the private markets. In that article, Romney suggested government-backed loans to keep the companies afloat post bankruptcy. But what GM and Chrysler needed were bridge loans to get them through the process, and the private credit markets were unwilling to provide them. Obama put a rescue team to work and they were true to the task.
We have criticized Obama in past editorials for rewriting bankruptcy law on the fly to hold harmless his supporters in the United Auto Workers union. Still, Michigan is better off today because of Obama's leadership on this issue.
From The Detroit News: http://www.detroitnews.com/article/20121...z2AVth1N8j