Mitt Romney Says To Give GM Back to Taxpayers (You and Me)
Washington -- The Obama administration and the United Auto Workers should immediately distribute their stock in a restructured GM to American taxpayers, former Republican presidential candidate Mitt Romney said Sunday.
"We don't want a president and the head of the UAW running General Motors," Romney, a Michigan native and son of former Gov. George Romney, said in an appearance on "Fox News Sunday."
Romney suggested that the roughly 70 percent of GM that the government could own after it emerges from bankruptcy should be immediately distributed to taxpayers, and the 17.5 percent that will go to a UAW trust fund for retiree healthcare should be handed out to UAW members.
"I'm a son of Detroit. My dad was an auto executive," Romney said. "I drive American cars, I love American cars. My heart bleeds for the people in Michigan, in Detroit, for all those auto workers."
"This is a very sad circumstance for this country, and it represents bad decisions by management, overreaching by the UAW. It's really tragic in a lot of ways, and it has not been well-played either in my opinion by the Bush administration or the Obama administration."FULL STORY