and three years later it s paying off in a big way. walk me through it, austan. he didn t mention it. mitt romney wrote an editorial that said let detroit go bankrupt and it was about the detroit wrote an editorial that said let detroit go bankrupt, and it was about the detroit automakers, and that is what he was referring to, it was about the auto companies. the president said he saved detroit. we wouldn t let detroit go bankrupt. now, guess what, detroit is now bankrupt, is it not? when romney was talking about detroit, they were talking about the detroit auto industry. i can only listen to his words. you wouldn t want me to distort his words, would you? he was talking about the auto industry right there. he said detroit. detroit is now bankrupt. why? he was talking the phrase let detroit go bankrupt was mitt romney s phrase in reference to the auto companies. hugh, it s happening. it has happened and in
and three years later it s paying off in a big way. walk me through it, austan. he didn t mention it. mitt romney wrote an editorial that said let detroit go bankrupt and it was about the detroit wrote an editorial that said let detroit go bankrupt, and it was about the detroit automakers, and that is what he was referring to, it was about the auto companies. the president said he saved detroit. we wouldn t let detroit go bankrupt. now, guess what, detroit is now bankrupt, is it not? when romney was talking about detroit, they were talking about the detroit auto industry. i can only listen to his words. you wouldn t want me to distort his words, would you? he was talking about the auto industry right there. he said detroit. detroit is now bankrupt. why? he was talking the phrase let detroit go bankrupt was mitt romney s phrase in reference to the auto companies. hugh, it s happening. it has happened and in
then not only has my city not improved, but i ve gone down further as well. reporter: we heard michael and janet, employees of the city obviously not happy with the situation in detroit. what s the general mood? i m curious about what folks on the street, people in the coffee shops, what the newspaper saying? what s the average joe thinking about this filing of bankruptcy. reporter: i asked a woman working at the counter, what do you think? did you expect it? so many people say it was that a question of if, but a question of when. i don t think that s really true. i think a lot of people were holding out hope. the president is few years ago said we won t let detroit go bankrupt. a woman at the diener said i m shocked and i m scared. i don t know what it will mean for me. we know it will mean something for city workers, but we don t know what it will mean for the
industry back on its feet. he is hoping that if he just keeps on saying how much he loves cars over and over again, that you won t remember he wrote an article, that was titled, let detroit go bankrupt. jenna: governor romney born in detroit, rejected the accusation that he wanted the auto industry to go belly-up. i said they need these companies, companies need to go through a managed bankruptcy and in that process they can get government help and government guaranties but they need go through bankruptcy to get rid of excess cost and debt burden they built up. jenna: this is not all about the auto bailout. let s fast forward to now. the white house is issuing this statement when it comes to filing of bankruptcy for detroit saying quote, the president and members of the president s senior team closely will monitor the situation in detroit while leaders on the ground in michigan and the city s creditors understand they must find a solution to detroit s serious financial challenge, w
started to produce that all around the country helped, at least in part, to start sort of this usualin plight. people going to the suburbs and then the exurbs to get more space. michigan and detroit particularly has been hurt hardest by this. the president pushed hard for the auto bailout. i know the white house says he is watching this very closely. let me play for you a little bit of what the president has had to say. and it s hard to run away from a position when you re on videotape saying, let detroit go bankrupt. but, you ve got to own what you say. this isn t a game. these are people s jobs at stake. these are people s lives. when i made the decision to rescue the auto industry, it wasn t popular. even here in ohio.