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View Diary: Wait, WHAT? Now President Obama is Lying About Detroit? Rachel Sets David Letterman Straight (165 comments)

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  •  Here is what drives me nuts... (20+ / 0-)

    I don't hear Obama or any of his surrogates bringing this up!

    Federal Bankruptcy Judge: Bailout Was Only Way to Save Chrysler

    The federal judge who presided over Chrysler’s bankruptcy told ABC News in an exclusive interview that the ailing company could not have survived without taxpayer money.

    “The record before the Court was clear that there were no other sources of lending,” said Arthur J. Gonzalez,  who served as chief judge of the U.S. bankruptcy court for the Southern District of New York.

    The bailouts of G.M. and Chrysler remain a political hot potato in Midwest states such as Michigan, Ohio, Illinois, and Indiana, which are heavily dependent on the U.S. auto industry.

    President Obama is taking credit for saving more than a million jobs because of the bailouts, while Republican candidates have voiced their opposition to the government loans.  GOP front-runner Mitt Romney insists, “It was the wrong way to go,” and that General Motors and Chrysler should have gone through “a private bankruptcy process.”

    But Gonzalez, who retired from the federal bench on March 1, told ABC News: “One thing is clear, without government support in one fashion or another, there were no sources of funding.”

    Now that is the judge who conducted the hearings... not a politician...

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