With a multi-volume list of issues that a presidential hopeful could discuss, we aren't sure why Mitt Romney keeps circling back to the auto industry bailouts, but here we are again. He's lately swinging his stick at the U.S. Treasury Department for not having sold its 26.5-percent stake in General Motors, accusing it of holding back on the stock sale to avoid having to report a multi-billion dollar loss before the election.

At GM's current stock price, the government would lose about $16 billion by sellings its 500 million shares, a number that hasn't much changed from several months ago. Romney said the government has "no reason" for not selling, and a report of his interview with The Detroit News says that "he'd sell the stock quickly if he wins the White House." A Treasury spokesman responded with "We have to balance maximizing recovery for the taxpayers with the speed of exit."

On top of that, Romney said that if he becomes POTUS, he would take another look at Corporate Average Fuel Economy standards, believing that "The best approach is to try and build vehicles that people want, rather than having the government telling the companies what they must make." It's a line we've heard (and even uttered) often, but the nexus of government regulations, consumer desires, viable business models and long-term industry concerns is a moving target shifty enough to confuse quantum physicists.

Either way, it's clearly fair to expect more jabs from Romney at President Obama and the auto bailout as the campaign season grinds toward election day.


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  • 208 Comments
      Avinash Machado
      • 2 Years Ago
      Quite an interesting election season this year. Such a huge circus it has become.
      • 7 Months Ago
      [blocked]
      • 2 Years Ago
      [blocked]
        Sir Duke
        • 2 Years Ago
        I could be VERY successful too, if I were allowed to play by those rules. Loot companies' pensions then have the federal government step in and pay back the workers.
          Nick
          • 2 Years Ago
          @Sir Duke
          Love these boards. Get downvoted for telling the truth. Scumbag republicans.
        gork
        • 2 Years Ago
        Yes, we are too stupid, we simple people. We should worship Rich People as Gods. By doing so, we shall receive money flowing down from their feet, as water to quench our thirst for life.
        Adrian
        • 2 Years Ago
        Trololololo.
        • 2 Years Ago
        [blocked]
      Patrick
      • 2 Years Ago
      Dear Autoblog, We know you hate Republicans. Sincerely, A republican
        Michael
        • 2 Years Ago
        @Patrick
        Any sane person who is not a 1%er would. The idea that the other 99% would be better off having a Republican in the White House reflects insanity that enabled the Republicans to get us in this economic mess that they have obstructed every effort by the Democrats to get us out of it.
        carlocarrera2002
        • 2 Years Ago
        @Patrick
        How is this article bias against Republicans? Romney says he wants to sell GM stock at a loss, AB didn't make the story up.
          Patrick
          • 2 Years Ago
          @carlocarrera2002
          "With a multi-volume list of issues that a presidential hopeful could discuss, we aren't sure why Mitt Romney keeps circling back to the auto industry bailouts, but here we are again." Wow that's a neutral way to start an article isn't it?
        secretvampire
        • 2 Years Ago
        @Patrick
        How's that? By reporting what your wonderful candidate has publicly stated? Should it be a secret, and if so, why?
          Patrick
          • 2 Years Ago
          @secretvampire
          "With a multi-volume list of issues that a presidential hopeful could discuss, we aren't sure why Mitt Romney keeps circling back to the auto industry bailouts, but here we are again." Wow that's a neutral way to start an article isn't it?
          Myself
          • 2 Years Ago
          @secretvampire
          I guess most sane people would be glad if such a nonsese would be quickly forgotten...
      Justin Campanale
      • 2 Years Ago
      Wow. Romney is a complete crook, and god help America if the White House falls to his hands. First he disses the bailouts, then he tries to take credit for them. Then he's talking about having the goverment make a loss just to prove a point.
      Junkyard Willie
      • 2 Years Ago
      If Romney becomes President he'll sell GM shares to himself for .02 cents on the dollar and would make Mark Zuckerberg seem poor. Can't trust this trust fund kid.
      Classic Bob
      • 2 Years Ago
      Hang on a minute,.. Romney may be onto something! Maybe it’s wise to sell GM shares before it gets worse. GM stock has not increased in value since the company is still bleeding badly, especially in Europe with Opel’s black hole. The government should have hung on to Chrysler shares instead,.. it’s worth much more than the GM ball and chain they have now...
        sossegado001
        • 2 Years Ago
        @Classic Bob
        GM is bleeding badly? Have you seen the yearly and quarterly results? Please do some research and then comment, you just look ignorant when you don't! Yes Opel is losing money, but GM is a global company that profited (net) $7.6 Billion. Know your facts.
          Classic Bob
          • 2 Years Ago
          @sossegado001
          GM stock has gone from $40 to $20 in the past two years, and there’s no sign that slide will end anytime soon. There is good reason investors lack confidence GM. Most of their yearly and quarterly results are cleverly skewed, compare them to actual vehicle sales. Just look at the latest sales figures and declining market share! Cadillac is crashing, Buick is burning, and in Opel is drowning. Is this the sign of a healthy company?
          Drakkon
          • 2 Years Ago
          @sossegado001
          Never let facts stand in the way of good ol' fashioned fear-mongering.
          • 2 Years Ago
          @sossegado001
          [blocked]
      ragtopdodge
      • 2 Years Ago
      Ya, he has so much business sense, doesn't he? What a jerk. He knowingly wants the tax payer's to lose money to make a point. He may know vulture capitalism, but he knows nothing else about anything.
      gork
      • 2 Years Ago
      it's easy for Romney to talk big...he'd be capitalizing someone else's losses (America's, Bush's and Obama's), not his. It's crystal clear Romney is good at offloading debt at someone else's expense -- that's the EASY stuff.
      Dark Gnat
      • 2 Years Ago
      Maybe Romney is still pissed that his daddy ran AMC to the ground and blames GM.
      nosirrahg
      • 2 Years Ago
      So the new adage if Romney gets elected is "Buy High, Sell Low"? Sounds like a sure-fire method to return prosperity to the country.
      angryinch_1
      • 2 Years Ago
      Clearly all the UAW folks posting here are scared to death to find out just how much GM stocks are really worth? Scared if the Government tries to sell their ownership, they well see that stocks are not worth the price of paper they are printed on. Why doesn't the UAW purchase the remaining stocks? Are they afraid? UAW already owns a huge chunk? Afraid of more? I guess the UAW wants to suckle on the taxpayer teets forever.
        Patrick
        • 2 Years Ago
        @angryinch_1
        And have GM products really gotten so much better? If so I haven't seen them on Autoblog
        Patrick
        • 2 Years Ago
        @angryinch_1
        The UAW always has people posting on these boards spewing hate.
        Michael
        • 2 Years Ago
        @angryinch_1
        I am Republican (moderate) and hate unions and your opinion is one of the most ill formed I've seen on this thread. The stock is worth exactly what it is trading for at this moment. There are no hidden secrets about who owns what portion of GM and its financial condition. Such considerations are reflected in the stock price. Any time you take a lot of anything and dump it on the market in one fell swoop, the price of that thing will be artifically depressed for a period of time. Who owns the stock has nothing to do with that. Anyone owning the stock would be very concerned about the effect of the government dumping all of it at one time. Explain your ignorant "suckle at the teat" comment. It's obvious you have zero knowledge on this subject and feel free to show us that. BTW, "angryinch_1", your username seems to be very reflective of what's eating at you. Tough to live with that isn't it?
          montoym
          • 2 Years Ago
          @Michael
          quote from Michael: - "I am Republican (moderate) and hate unions" - Well then you'd better find that guy who's posting all those other comments under your name, becuase that guy isn't within a mile of being a Republican. What are your primary reasons for being a Republican may I ask?
          j0nny5
          • 2 Years Ago
          @Michael
          Well, looks like you angered "the base" by being logical. I sympathize.
        tump
        • 2 Years Ago
        @angryinch_1
        Nobody has that kind of money - which is why private equity didn't fix the problem in the first place.
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