The Detroit News spoke to former Massachusetts Gov. Mitt Romney, the presumptive Republican presidential nominee on Friday about a series of issues, including his opposition to President George W. Bush and Barack Obama agreeing to bailout General Motors and Chrysler before insisting they go through bankruptcy. Romney, a Detroit native is the son of a former Michigan governor and chief executive of American Motors.
Here is his full answer on the auto bailout:
“I think (Democrats) will try to distort what I was saying. As you know from the very beginning, it was my view that the companies — if they were in distress – needed to go through a managed bankruptcy to relieve themselves of their excess debt and other burdens. If they needed help coming out of bankruptcy and government support, that was fine but I was not in favor of the government writing billions of dollars of checks prior to them going into bankruptcy — and by the way that posture was ultimately agreed upon by people in Washington — because despite the fact that they resisted going into bankruptcy, they finally came around.”
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