The Huffington Post | By Jennifer Bendery | Posted: 03/15/2012 12:48 pm Updated: 03/15/2012 1:36 pm
WASHINGTON — In a fiery campaign speech on Thursday, Vice President Joe Biden took direct aim at former Massachusetts Gov. Mitt Romney for advocating that the auto industry go bankrupt instead of the Obama administration bailing it out.
“[Romney] said let Detroit go bankrupt. He said that,” Biden said to boos during a Toledo, Ohio campaign event. “He said what what we propose, and I quote, ‘is even worse than bankruptcy.'”
More telling, he said, is that Republicans like Romney were instead advocating that the private sector come to the aid of the auto industry, something Biden pointed out was never going to happen. He cited as proof the fact that Romney’s own private equity firm did nothing to help out during the crisis.
“Bain Capital wasn’t lining up to give anybody money,” Biden said. Romney said “the market, Wall Street, will help lift them out … Wrong.”
In the end, the administration bailed out the industry and it is now returning to stable footing. Romney said a government bailout “would make GM, quote, ‘the living dead,'” Biden said. “I say to Gov. Romney — his prediction of a living dead — we now have living proof: a million jobs saved.”