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The Velveteen Ocelot

(130,398 posts)
4. No, you lying d*ck, you wouldn't have done it at all,
Wed Jun 20, 2012, 10:42 AM
Jun 2012

and you said so. "Let Detroit go bankrupt," you said.

All bankruptcies are "managed" (that's what the process is for), but no company can do a Chapter 11 reorganization unless they can get loans, and nobody, including Bain Capital, was willing to provide private financing. The auto companies would have had to liquidate had the government not provided the equivalent of DIP financing.

Here's what you said, Mitt. Want to eat those words now?

http://www.nytimes.com/2008/11/19/opinion/19romney.html

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