Romney Campaign: CO, NV, OH and VA will decide General Election

[Brittain33]

No, "managed bankruptcy" means you have a pre-negotiated deal, your flush the creditors, and as part of the package, post bankruptcy, the government issues guarantees to the extent necessary to keep the wheels moving. I don't know if the Dems are just being obtuse here, or being deceptive as part of an effort to confuse and propagandize the "dumbs."  In any event, it isn't working with me. Hopefully Mittens at the right moment, will kick them where it hurts most.

Ok, I see where you are on this, and that continuing would not serve the purpose of this forum. Cheers.

Cheers to you. This issue and the Buffet Rule rantings, annoy me, I admit.

I think any time unions come into the picture, you and I go at it like Rottweilers. I don't even like unions that much.

[Bull Moose Base]

Mittens  actually did say government financing would be involved (which we both missed I guess). That is what the word "guarantees" means. So case closed. It is time to move on. Mittens has this one in lockdown.

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Oh and Mittens is right too that just giving the auto companies money, without a restructuring, would lead to their demise. That is what Obama did.

So... Romney's argument will be that Obama has sealed the auto industry's doom by bailing it out, just you wait? 

Or it'll be "Obama saved the auto industry with the kind of bailout I myself recommended in my editorial where I wrote Detroit does not need a check"? 

Or is it "By decrying government intervention in the free market the past 4 years, I meant government should decide how businesses should be run, and then use huge government expenditures to get them to do that"?

Romney is after all uniquely positioned to offer advice to the industries of Michigan and Ohio since they and post-Katrina Louisiana are the only states that had slower rate of job growth than Massachusetts while Romney was governor.

[Torie]

Way, way too complicated Jomentum, and off point. Obama used taxpayer money to give money to the union pension plans, and other goodies, not necessary to keep the industry going, in order to cater to his base. You might not like the message, but that is the message, and you will hear it a lot. It is part of the larger theme about crony capitalism gone wild, which you will also be hearing about, again, and again, and again.

[Southern Senator North Carolina Yankee]

The key that you guys (excluding Torie) is missing, is "the plan". By which I mean the plan to restructure the companies and get them financially solvent and profitable. That is the goal of any bankruptcy. The plan is the key to restructuring a company, not the money. The money is just the enabler. The only reason that companies are liquidated, barring some outside force (credit crunch, see below), would be if no viable plan could be created. The plan is the key. Unless you create a restructuring plan, the companies would have been doomed, even with the entire treasury propping them up as zombie companies. The only reason GM is not currently so, is because Obama finally did put them into bankruptcy and forced them to accept a flawed, but financially "viable" plan. The "bailout" Romney said would doom them, was the bailout the owners requested in November 2008 (remember when Mitt wrote that article), which was cash to preserve the insolvent status quo, the bailout that Bush and Obama gave them for seven months.

In a prepackaged bankrupcty you get the plan drawn up first, before you go to a judge. Then you go to a judge and he reviews the plan to see if it is viable or not and then if it is he approves it. All that could have been done in a weeks time. You get the unions and Execs into a room, lock it TR style and force them to make a deal. If they refuse and the goverment has to provide "temporary cash to them", you make clear to them the price for such emergency funding is the job of every GM executive. In one night you have a plan, the paper pushers draw up the details and in few days you can go to the judge as described above. Of course Bush was President at the time, meaning the new President would have had to work with the out going President to implement this. I can imagine Romney fully willing to do just that, Obama not so much.

As for the Credit Crunch, that is where the Federal roles comes into play. You guarrentee the warrantees and offer 100% gov't backing to any potential creditors (no risk, absolute chance of reward) ahead of going to court. If no one ponies up the cash, then and only then do you offer the companies direct gov't loans.

You go to the judge with the plan and the cash in hand. Chances of liquidation are less then zero. The companies are on the road to recovery and it ain't even New Years. Not a dime of tax paper's money has been spent to prop up a failed company, only to implement a viable restructuring plan. The Markets applaud the action of the out-going and in-going President working to provide stability, at a time when such was desperately needed.  

That is what Romney had called for in November 2008. The Bloomberg article, the Economist, and even the stupid Michigan Governor himself (Who hasn't actually been made of aware of what Romney exactly called for because "He wants to focus on the future and not the past", as he said on "Meet the Press" a few weeks ago.) are ignoring key elements of "the Romney Proposal", which is what allows them to run headlines like "Holes in Romney's Plan","Romney's plan risked disaster" etc etc etc

And of course, don't you think a business consultant and venture capitalist would know how to put a company through bankrcupty and avoid its liquidation?

[Southern Senator North Carolina Yankee]

At least he's been saddled with an unfortunate headline "Let Detroit Go Bankrupt" which puts him out of the running of making MI competitive.

I wouldn't rest on that if that is your plan to "disqualify" Romney as a competitor in Michigan.

[Brittain33]

At least he's been saddled with an unfortunate headline "Let Detroit Go Bankrupt" which puts him out of the running of making MI competitive.

I wouldn't rest on that if that is your plan to "disqualify" Romney as a competitor in Michigan.

Well, I'm just a red avatar bloviating on the Atlas, not Obama's campaign manager. I'm sure he's got a few offices open, too.

[AmericanNation]

And of course, don't you think a business consultant and venture capitalist would know how to put a company through bankrcupty and avoid its liquidation?

YES!!!!! I want to emphasis that's what I meant by he (Romney) is more of an expert than Michigan polititians and the president of the United States.  Romney has specialized in buying and rebuilding 'troubled assets' like bankrupt companies.  His dad rebuilt a bankrupt American Motors.  It's a joke to think Mitt was somehow wrong and Obama 'saved the day.'    

[Southern Senator North Carolina Yankee]

Lets talk about the Michigan Governor for a minute. Mike Snyder a is in fact a moderate hero and he is in some measure throwing Mittens under the bus on this issue to try and create a national image as a "Solutions Governor" focused on the future and not the past and working to get things done, in the hopes that it will filter back to Michigan, revive his poll numbers, and allow him to get reelected.


He is in fact completely ignorant on this issue (on purpose I might add) and Romney should have barred him as a surrogate after the Meet the Press interview.

[Torie]

It appears that we (or I at least) have poor communication skills, because we are just not making any headway here Senator North Carolina Yankee. Ditto on the ludicrously inane Buffet Rule. The House is so divided, that folks on either side sadly seem to have stopped listening to each other (and/or find my text incomprehensible).

[Southern Senator North Carolina Yankee]

It appears that we (or I at least) have poor communication skills, because we are just not making any headway here Senator North Carolina Yankee. Ditto on the ludicrously inane Buffet Rule. The House is so divided, that folks on either side sadly seem to have stopped listening to each other (and/or find my text incomprehensible).

That is why I expect to see a lot of "This Mittens guy wanted you to go drop dead" from the Democrats with regards to Michigan.

Also the problem is that any small post can't encompass all the details, kind of like those stupid articles and therefore you get the, "Oh but he wouldn't have assured this or risked that omg omg omg...". Any long post that does will get a tl;dr response.