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View Diary: Romney adviser dismisses auto rescue as 'one-trick pony' (63 comments)

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  •  I certainly object (0+ / 0-)

    to casually dismissing something this significant.  But that said - what is the principle behind the auto rescue that we could expect to be applied in the future?  Or is it a one time thing? I don't know the answer.

    Politics is the art of the possible, but that means you have to think about changing what is possible, not that you have to accept it in perpetuity. Notes on a Theory

    by David Kaib on Sat Oct 27, 2012 at 07:24:53 AM PDT

    •  Guts (2+ / 0-)
      Recommended by:
      RadGal70, dkosdan

      willingness to take an unpopular stand, take a bet, put it on the line, make a hard decision - something Romney is completely incapable of

      "I'm sculpting now. Landscapes mostly." ~ Yogi Bear

      by eXtina on Sat Oct 27, 2012 at 12:37:07 PM PDT

      [ Parent ]

    •  Someone smarter than me (1+ / 0-)
      Recommended by:
      dkosdan

      could probably articulate this better, but it might have something to do with government action when market paralysis inhibits otherwise reasonable action.  A bulwark against excessive clenching on the part of lenders.

      Or maybe illustrative of divergent views of government as impartial free market facilitator versus government considering the consequences of actions on the people it represents?

    •  Banker of Last Resort (1+ / 0-)
      Recommended by:
      dkosdan

      That is the basic role the government played in the auto bailout, just as they did for Chrysler in the 80s. It isn't something you want to rely on in an economy, but it is a great fallback when the loss of an industry would have such a devastating impact on the overall economy. I mean, not only the loss of the jobs, but can you imagine the nightmare of no replacement parts for owners of cars from the bankrupt companies or the decline in value of all those American cars already on the road? An auto industry collapse might have damaged the American economy beyond repair. We already have many years of recovery before we get back to where we were before the GOP wrecked the economy, it would have been 3 - 4X longer if we'd lost an industry that big.  

      A government that denies gay men the right to bridal registry is a facist state - Margaret Cho

      by CPT Doom on Sat Oct 27, 2012 at 01:57:33 PM PDT

      [ Parent ]

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