GM and Chrysler Did Go Bankrupt – Mitt Was Right

Just something to think about . . . . . Lately Romney is often quoted as saying “Let Detroit go bankrupt”. It was the headline of an article he wrote in 2008. In the article he suggested that the automakers needed to go through managed bankruptcy (Chapter 11) where they could lessen their dept load and restructure into a leaner and better company . . . . . Enter our current administration and after 50 plus billion dollars, guess what?

On April 30, 2009 Chrysler filed for bankruptcy (Chapter 11) and on June 1, 2009 GM filed for Chapter 11 bankruptcy. You have to like the fact that Ford didn’t get any of the billions of dollars and has still managed to go from annual losses to profits.

I am trying to figure out why the next time it is brought up about him saying “Let Detroit go bankrupt” by this administration that he does not simply state the fact that what he suggested is exactly what happened and why they are still viable companies today

Hope you have a SUPER Day!! God bless!!

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