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UAW President: Bailout Right Thing to Do

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  • Description

    UAW President Bob King on the clash between the candidates over the auto bailout.

  • Duration 4:20
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This transcript is automatically generated

What we also.

Haven't been able -- do is position ourselves so we can start rebuilding America.

And that's what my plan thus.

Making sure that we're bringing manufacturing back to our shores of the -- creating jobs here as we've done with the auto industry.

Not rewarding companies that are shipping jobs overseas.

Sorry UAW.

President Bob king -- -- a year and how would the issue about the bailout and then that Romney was against it.

But he said he wanted to managed bankruptcy but one without the taxpayer.

Paying -- that's ultimately will be got.

The difference being we we we spend tens of billions of dollars.

To do what bankruptcy could've done anyway would be -- By say there was not.

Debtor in possession financing available there was not private money you know -- -- credit was frozen credit was frozen no financial institution would loan money.

To be out of companies at that time.

You know I remembered about about that it wasn't.

So the way it ultimately went down then maybe it's all that he would get a car off -- -- -- -- but.

-- it wouldn't results -- a lot of plant closes it wouldn't result in a lot of people losing their jobs then we found out well.

Yeah now like bankruptcy that's exactly what would happen so.

-- had been has aggressively supported as well as the bailout if we knew viewed the real truth.

The pain that would come with to gain.

Well if that's what Romney -- well.

I I think that the president was that did the best for United States -- doing the rescue would have been -- -- a million more people have been out of work would have put us in.

You know Great Recession into another deep depression.

So was absolutely right thing to do -- you can't hit in both -- presidents in the governors of the night you can have a strong foreign policy without a strong academy.

And what the way the president I think is the right person to be commander in chief and to be.

CB to present because he's got a plan for bringing manufacturing back to the United States of America he did with the auto industry that -- -- Cavity where he -- Aristide -- now what at a strategy in every city and procedures -- play -- well what.

He gave loans you know and those prices -- paid -- back -- loan backed General Motors is in the process a you know worried that's Romney is that it sets a dangerous precedent.

Now I mean if it.

Every country in the world supports their manufacturing industry they do with currency they do with training.

They do with its direct loans rent it if you wanna strive kind of you've got to have a strong manufacturing base.

The president let's say you're right and all of that you have been and and and you believe that and hop -- and why is the president doing better.

It it states -- benefit of -- Pennsylvania comes about and it's again.

Ohio Wisconsin.

But varying degrees.

Below tight races well -- you know in many ways.

It's because I think the president will win in those states because of working -- know.

Who's supposed to candidate that's in the best protect working families look out for working families.

It's -- -- pres Obama as he stepped in to save all those working class families.

That are -- as a matter where their work in dealerships of the suppliers whether they were directly from the India assembly plants.

All of the ancillary jabs -- all those people know I'm working today.

Because president you're not upset that he's not getting more bang for the buck for that right you know if -- bird having gone through this academy in -- in coming out of it.

He's doing extremely well in many ways.

And act in I think in those states because people gonna say pres Obama we'll make this the arsenal democracy and we don't want to be the warehouse of outsourcing.

-- -- -- hasn't treated any manufacturing -- and then what's really outrageous to me obvious criticism of the auto bailout.

And then who profited financially personally.

That branding and -- made at least fifteen million dollars up from investment in Delphi to buy have.

You know as part of this hedge fund group that bottomed out by that made.

The resurrection of that rescue of General Motors a lot more expensive for the government there would have been a lot of that was pre rescue money.

They -- knows TARP money.

A lot of was TARP big is it appropriate to army unit is a hypocrite as well I -- -- I think -- not a good thing it -- you think of that ground buys it.

So I -- -- have a back up -- Bob thank you very very much.

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