Democrats Double Down on their Fiat-Chrysler LIE

The Democrats, backed by the Main Stream Media are campaigning hard for Barack Obama against Mitt Romney. The latest in keeping with the Romney is lying MEME is about the Fiat/Chrysler Jeep ad and claims that Jeep is expanding/moving production to China. On Oct 22, 2012 Bloomberg:
Fiat Says Jeep Output May Return to China as Demand Rises

 How does the left spin it?
 updated with the following:
AP Hides Fiat's Plans to Manufacture Jeeps for North American Market in Italy
----------------------------------------------------------------------------------------------------------------------------

Bill Clinton: Mitt Romney's Jeep-to-China ad is 'biggest load of bull in the world'

The Obama campaign has complained about the Romney campaign's Jeep ad, which links the president to a report saying Chrysler plans to move its Jeep production from the U.S. to China.
Chrysler released a statement on Monday saying it had no plans to stop producing Jeeps in the U.S.
The statement said, "U.S. Jeep assembly lines will continue to stay in operation."
Clinton recounted talking to Obama earlier Monday about the claim by the Romney campaign.
"I saw the reports of Gov. Romney's latest ads saying that the president had allowed Jeep to move to China. And so this morning, before [Obama] left Florida, and went back to Washington, he said, 'You know, of all the things that Gov. Romney has said, that probably hurts my feelings the most,'" Clinton said, referring to Obama.
"He said, 'You know I never had any money when I was a kid and the first car I owned I was 30 years old, it was a Jeep. I would never move Jeep to China,'" Clinton said.

 Really? The Romney is a Liar campaign as conducted by the pathological LIARS Bill Clinton and Barack Obama:

"I saw the reports of Governor Romney's latest ad saying that the president had allowed Jeep to move to China," said Clinton. "And so this morning, before he left Florida and went back to Washington, he said, 'You know, of all the things Governor Romney has said that probably hurts my feelings the most.' He said, 'You know, I never had any money when I was a kid. and the first new car I ever owned I was 30 years old it was a Jeep.'"

Obama's first new car was a Jeep Grand Cherokee, but was 39 years old when he bought the 2000 model, not 30, as Clinton stated earlier today.  Clinton: Obama's Feelings Most Hurt Over Jeep Ad

===========================================================================


Now the following Bloomberg article

Fiat Says Jeep Output May Return to China as Demand Rises

By Craig Trudell - Oct 22, 2012 10:10 AM CT
 
Fiat SpA (F), majority owner of Chrysler Group LLC, plans to return Jeep output to China and may eventually make all of its models in that country, according to the head of both automakers’ operations in the region.
Fiat is in “very detailed conversations” with its Chinese partner, Guangzhou Automobile Group Co. (2238), about making Jeeps in the world’s largest auto market, said Mike Manley, chief operating officer of Fiat and Chrysler in Asia. Chrysler hasn’t built Jeeps there since before Fiat took control in 2009.

Enlarge image

The bodies of 2012 Jeep Compass and 2012 Jeep Patriot sports utility vechicles (SUV) move along the assembly line at the Chrysler Group LLC assembly plant in Belvidere, Illinois. Photographer: Daniel Acker/Bloomberg

“The volume opportunity for us is very significant,” Manley, who is also president of the Jeep brand, said in an interview at Chrysler’s Auburn Hills, Michigan, headquarters. “We’re reviewing the opportunities within existing capacity” as well as “should we be localizing the entire Jeep portfolio or some of the Jeep portfolio.”
Chrysler, which entered an alliance with Turin, Italy-based Fiat as part of its U.S. government-backed bankruptcy, is relying on growth in China to counter weakness in Europe’s auto market. The automaker is targeting 500,000 annual sales outside North America by 2014, more than triple its overseas deliveries in 2009.
Chrysler currently builds all Jeep SUV models at plants in Michigan, Illinois and Ohio. Manley referred to adding Jeep production sites rather than shifting output from North America to China.

Further Information of GM, Bankruptcy and TARP
Barack Obama LIES about Mitt Romney's GM Bankruptcy Statements

 
GM Bailout
 
Inspector General of TARP NEIL Barofsky

Bailed-out Division of General Motors sells in Bankruptcy to Billionaire Obama Supporter 

Obama Campaign Scrambles to Discredit Romney's 'Jeep' Ad

TARP Overseer Neil Barofsky on Bailouts & Obama

Neil Barofsky, the former Special Inspector General for TARP and author of "Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street" provides an in-depth account of his experience behind the scenes, as he tried to
negotiate what he initially believed was a program designed to save main street but that he later discovered was really created with the full intention of bailing out Wallstreet.

 
Barack Obama on TARP

President Obama has remained a strong supporter of the TARP program throughout his time in the Senate and in the White House. His actions as President have drastically changed the program, taking it from its original form as a mechanism to purchase specific kinds of stocks and warrants and using the program funds to spur lending among small businesses, create programs to assist homeowners in refinancing their homes, rescue GM, and create programs to directly provide funds to states hardest hit by the housing crisis.

What is TARP

The Troubled Asset Relief Program (TARP) was created in October of 2008 to address the fiscal crisis by purchasing warrants and stocks from financial institutions so that those items no longer burdened the banks. The legislation outlines what items can be purchased, and defines the institutions from what institutions those items can be purchased. President Bush violated those rules prior to leaving office when he loaned money to General Motors and Chrysler. President Obama further violated those rules when he purchased stock in GM and then used the influence from those purchases to direct changes at GM.

Record as Senator
In addition to voting for the TARP program, Senator Obama spoke on the Senate floor in support of the program. In that speech, he urged his fellow Senators to "step up to the plate" and do the right thing in passing the legislation. He noted that a similar program had failed in the House and triggered a fall in the stock market. In supporting the program, he also urged it to have a program for home owners and an oversight board for the funds.

Second Half of TARP

After Senator Obama won the 2008 Presidential election, he asked President Bush to request the second half of the TARP funds to be allocated to TARP. In making the request, he stated that the economy was still too frail and that it would be irresponsible to enter office without having all the tools he needed to address the problem.

Request for Second Half of TARP

On January 12, 2009 President Bush stated that if President Obama desired the second installment of TARP funds, then he would move forward with the request. President-elect Obama immediately asked President Bush to request the funds.
  "(it would be) irresponsible ... to enter into the administration without any potential ammunition should there be some sort of emergency or weakening of the financial system.
  It is clear that the financial system, although improved from where it was in September, is still frail."  Barack Obama on TARP 
 --------------------------------------------------------------------------------------------------------------

TARP Subprograms

 The Emergency Economic Stabilization Act of 2008 (otherwise known as "the bailout") created the Troubled Asset Relief Program (TARP). Some of the 9 subprograms initiated under TARP were in place prior to President Obama assuming office. Other programs were initiated during his administration. The programs initiated by President Bush include:

• American International Group
• Automotive Industry Financing Program (AIFP)
• Capital Purchase Program
• Targeted Investment Program
• Asset Guarantee Program

President Obama has initiated numerous programs using the TARP funds. These purposes of these programs range from helping people refinance their homes to spurring lending for small businesses to welfare funds as shown below:

• Small Business and Community Lending Initiative
• Home Affordable Modification Program
• Consumer and Business Lending Initiative
• Community Development Capital Initiative
• Public-Private Investment Program
• Hardest Hit Funds Program
• FHA Short Refinance Program

 TARP and GM

The use of TARP funds to bail out General Motors is addressed in a separate item. The purchase of stock and warrants from GM was not valid through TARP as the GM and Chrysler are not financial institutions as defined by the TARP legislation. The use of that stock holding as leverage to force the CEO of GM out and to allow the US government to appoint chairs to the board at GM is counter to guidelines of TARP which expressly forbid purchasing stock with voting rights so that the government could not assert influence over companies it had purchased shares of through the program.

Funds Committed to TARP

The TARP program initially consisted of programs to deal with toxic assets. Those programs were extended by President Bush when he initiated loans to President Obama. President Obama further extended those programs to purchase stock in auto companies and then invest in local communities. Over 87% of the money issued by President Bush has been returned while roughly 9% of the money issued by President Obama has been returned. This data is current as of mid-March 2011 and taken from the TARP disclosure statements  Barack Obama on TARP

----------------------------------------------------------------------------------------------------------------------

A little perspective on the history and original purpose of TARP and President Obama's use and misuse of TARP 2 for GM, as an example. The Democrats caused the economic crisis funding the social-justice and class-warfare MEMES for power, called progress. We cannot afford four more years.