Lutz stumps for Romney despite opposition to auto bailout
Bob Lutz has put Republican presidential candidate Mitt Romney’s numerous past comments about the automotive bailout behind him, according to Automotive News. During a recent episode of “The Kudlow Report” on CNBC, the former auto executive made it clear he now backs Romney for the 2012 presidential election, saying “[Romney] now says he was totally in favor of [the bailout] and suggested it.”
In 2008, Romney wrote an op-ed for The New York Times titled, “Let Detroit Go Bankrupt.” The piece adamantly opposed the government bailout in favor of a managed bankruptcy for both General Motors and Chyrsler. He has maintained his opposition to the auto bailouts publicly along the campaign trail, and Lutz’s comment is the first news we’ve heard of the candidate’s apparent change of heart. As recently as February 18, Lutz himself criticized the presidential candidate for his stance, especially for suggesting that the automakers simply needed to borrow from banks. According to Lutz, the banks were in worse shape than either of the imperiled manufacturers.
But that was then. Lutz now says he forgives Romney for his earlier statements, and that his support has more to do with opposing President Barack Obama than it does any actual faith in Romney’s policies. Lutz said, “You know, all is forgiven. It depends on who [Romney’s] opponent is.”
While speaking with The Detroit News recently, Romney said that if elected, he would quickly sell the U.S. Treasury’s stake in GM. He’s also criticized the Obama Administration’s proposed fuel economy requirements and support of electric vehicle manufacturing and development. Having helped usher the Chevrolet Volt to market, Lutz is a major proponent of electric vehicles.
Lutz stumps for Romney despite opposition to auto bailout originally appeared on Autoblog on Fri, 15 Jun 2012 09:32:00 EST. Please see our terms for use of feeds.