Letterman Says President Distorting Facts About Romney!

Re: Letterman Says President Distorting Facts About Romney!

"...there would have been no auto industry in this country..." EXCEPT FOR FORD ... AND all the foreign auto makers, many of which have factories located here in the US. So in other words, only two (admittedly big) would have been lost. And those in trouble were locked into outrageously expensive labor contracts with the unions. Please remember, Ford began cutting costs in all areas of the industry YEARS before the financial crash, so was in a good enough position that they accepted NO bailout monies.

Exactly, Ridgerider, and most people don't realize how much money they still owe us and that they are exempt from taxes for several years, which is valued at some 90 billion dollars!

Re: Letterman Says President Distorting Facts About Romney!

"...there would have been no auto industry in this country..." EXCEPT FOR FORD ... AND all the foreign auto makers, many of which have factories located here in the US. So in other words, only two (admittedly big) would have been lost. And those in trouble were locked into outrageously expensive labor contracts with the unions. Please remember, Ford began cutting costs in all areas of the industry YEARS before the financial crash, so was in a good enough position that they accepted NO bailout monies.

Here is David Letterman criticizing Obama's distortion about Romney's statement about the Auto bailout, which I would never expect from him. Rachel Maddow, his guest, tried to bailout Dave by saying O was claiming that R was saying it should be a "managed" bankruptcy with private funds used, which would have never happened. She invokes the standard line that the credit markets were shot at the time and even Bane Capital would not bite. Of course, she doesn't point out that private companies were aware of the government wanting to help the unions first and they wanted no part of it!