So, y'all know Romney is going around trying to convince people that Pres. Obama used Romney's plan to save the auto industry after all. Romney's plan would have been a big FAIL, because the credit markets were frozen due to the 2008 economic meltdown, and the private capital resources needed to make Romney's "solution" viable were not available.
On Rachel's show tonight (2/24), one of her guests (a WaPo journalist who has been traveling with the Romney campaign - sorry, can't remember the name) said that Bain Capital was one of the firms that declined to provide the auto industry with the private capital it sought.
So, Romney KNOWS his plan would have worked only if private capital were available to the auto industry (meaning billions in private loans); he KNOWS the credit markets were frozen, and he KNOWS Bain Capital declined to work with the auto industry -- yet, he's still going around saying *his* plan saved the auto industry!
The epilogue is of course that "Let Detroit Go Bankrupt" Romney was simply going by his SOP - drive the company (in this case, the auto industry) into bankruptcy, then pick over whatever bones were left. Thank goodness, Pres. Obama had exactly the opposite approach.