Showing posts with label Managed Bankruptcy. Show all posts
Showing posts with label Managed Bankruptcy. Show all posts

Tuesday, October 23, 2012

Media Ignores Obama & Romney call for REAL Fact-Check in the Debate over G.M.

Another Fact-Check Fail by the LEFT
McClatchy Writes

Facts and fiction in foreign policy debate

President Barack Obama and Republican challenger Mitt Romney traded barbs on foreign policy Monday night, dueling over everything from military spending to Middle East events to how best to stop Iran from acquiring a nuclear weapon.
In the last of three high-stakes presidential debates, not everything they said at Lynn University in the Florida beach city of Boca Raton squared with reality. Here’s a fact check of some of what they said:
SYRIA:
LIBYA:
IRAN:
IRAQ:MILITARY MATTERS:
.EGYPT:LATIN AMERICA:
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Strange the Main Stream Media wouldn't fact-check the part of the debate where BOTH candidates ask to actually check their statements. Where else in the entire debate did they call for another?   Turns out the GM OpEd statement made by Romney was CORRECT and Obama was caught in ANOTHER Flat-out LIE.  Here is the Video and quotes from the Times Op Ed.  

 

The Hill Fails to Fact Check or run a column on the GM Statement. Obama's remarks go unchallenged and this is the best The Hill.com can do   Obama: 'We might not have an auto industry’ if Romney had been president  They dont even challenge the remarks. Again, Both candidates say check the facts.
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Of course the propagandists at @MSNBC at the Maddow Blog ran with this disinformation piece.    Setting the record straight on the auto rescue

Excerpt:
In a debate in which many of the disputes are subjective, it's nice to have an argument in which there's an objective truth. Romney told viewers last night that his position was that American auto makers "can get government help and government guarantees" as part of the bankruptcy process.
Depending on how generous one is inclined to be, this is either a lie or a stunning case of "Romnesia."
Jonathan Cohn, who's done some great reporting on the auto rescue in recent years, noted Romney's condemnation during the Republican primaries of using public funds for the industry. Here's what Romney said during a debate in late 2011:
"My view with regards to the bailout was that whether it was by President Bush or by President Obama, it was the wrong way to go. I said from the very beginning they should go through a managed bankruptcy process, a private bankruptcy process. We have capital markets and bankruptcy. ... My plan, we would have had a private sector bailout with the private sector restructuring and bankruptcy with the private sector guiding the direction as opposed to what we had with government playing its heavy hand."
As a substantive matter, this didn't make any sense -- capital markets were frozen at the height of the crisis, and the money simply wasn't there. It was either the government or nothing. Last night, Romney argued the opposite of his position, saying he supported auto makers getting "government help."
By any measure, this isn't just a flip-flop; it's failing to tell the truth about a flip-flop.
And in terms of political salience, all of this only serves as a reminder to the nation -- most notably some folks in Ohio -- that if Romney had his way, the American auto industry would have collapsed, waiting for private investment that would have never come.
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Red Herring and Strawmen. MSNBC  gets caught with yet another piece of propaganda. First, they don't even reference the NYTimes Op Ed piece from the debate that the EDITORS TITLED.  Let Detroit Go Bankrupt   or even mention that Fiat took over Chrysler in the frozen capital market. The Main Stream Media and Barack Obama don't dwell in facts or truths, they perpetuate lies and push agendas.



TARP Overseer Neil Barofsky on Bailouts & Obama
Read more here: http://www.mcclatchydc.com/2012/10/22/172265/facts-and-fiction-in-foreign-policy.html#storylink=cpy

Fact-check: Text of 2008 Romney Op-Ed Debunks Obama’s Auto-Bailout Attack

Fact-check: Text of 2008 Romney op-ed debunks Obama’s auto-bailout attack

Excerpts from:  Matthew Boyle Investigative Reporter at The Daily Caller  10/23/2012
The text of a 2008 op-ed on the auto-bailout by Republican nominee Mitt Romney debunks attacks by President Barack Obama, who accused Romney of changing his position during the third and final presidential debate on Monday night.

 Debate 3 - Barack Obama and Mitt Romney Florida 2012
More:
The Romney op-ed both candidates were referring to ran in The New York Times on Nov. 18, 2008 under the headline “Let Detroit Go Bankrupt,” and appears to support Romney’s position.
In the op-ed, Romney said he thought the government should play a role in handling a managed bankruptcy. “The American auto industry is vital to our national interest as an employer and as a hub for manufacturing,” Romney wrote in the op-ed. “A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.”
“In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check,” Romney added.
Under the Obama administration, Detroit still went bankrupt. General Motors and Chrysler sank into bankruptcy, but instead of having open bankruptcy proceedings in a court, the Obama White House ran the proceedings. Many people won as a result of the bailout, but many others lost, too. Perhaps the biggest loss was that of the 20,000 non-union Delphi salaried retirees, who lost their pensions and benefits programs as they were headed into retirement as a result of a Treasury Department and White House decision
GM Bailout
Inspector General Neil Barofsky- The Overseer of Tarp Part I
Inspector General Neil Barofsky- The Overseer of Tarp Part II


 TARP Overseer Neil Barofsky on Bailouts & Obama