Comment Re:Still pretty affordable (Score 1) 393
Why were they not in favor of propping up the auto industry?
Of course they were. No president or party was going to sit by and watch 3 million jobs disappear in a chain reaction if GM went under.
Was it because the auto industry employed people with low incomes and had unions?
The deal was easily something President Romney could have put together with some stooges from Bain Capital. GM was forced to declare bankruptcy before they could get bailout money, and a two-tier system of wages was set up for the workers, creating resentment and undermining the union. If that wasn't enough, liability was eliminated for lawsuits on pre-bailout cars - so the families of those killed by faulty ignition switches are left with whatever GM decides to give them.