Posted May 11th 2012 5:00PM
As expected, the so-called auto bailout of 2009 has become a major talking point in the run-up to the American 2012 Presidential Election. Somewhat surprisingly, however, both sides of the aisle are taking credit for the success seen by General Motors and Chrysler since the two automakers were pushed through a structured bankruptcy process.
Presumptive Republican nominee Mitt Romney has said he deserves "a lot of credit" for the resuscitation of the auto industry due to his suggestion of a managed bankruptcy of the two automakers. But American President Obama, on the other hand, points out that Romney was very vocal in his opposition to the auto bailout, frequently citing the editorial he wrote for the New York Times in 2009 titled "Let Detroit Go Bankrupt," in which he said the auto industry was "virtually guaranteed" to fail if Obama's bailout proceeded.
Building on previous advertisements highlighting the auto bailout of 2009, the Obama campaign has released two new videos touting the success of the automakers since the dark days of bankruptcy.
Scroll down below to watch the videos for yourself.
News Source: Barack Obama via YouTube
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