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SALT LAKE CITY -- Before taking office as the most powerful leader in the free world, it has become common for a presidential contender to explain his past history of drug and substance use, particularly in regard to marijuana and alcohol.
But for the Republican hopeful Mitt Romney, a proponent for keeping marijuana as an illegal drug, an accusation has been made that he smoked illegal material.
However, the claim was made in jest to Romney's 2008 op-ed comments in the New York Times where he criticized the government for proposing a bailout to keep the floundering auto industries from going bankrupt.
On Friday, the CEO of Fiat-Chrysler Sergio Marchionne said that the Republican front-runner must have been "smoking illegal material" when he contended that the government should let the US automakers go into bankruptcy without providing federal financial assistance.
It is not wrong to ask for government help, but the automakers should come up with a win- win proposition. In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check.
–Mitt Romney
During an interview with CNN, Marchionne said: "Whoever told you that is smoking illegal material. That market had become absolutely dysfunctional in 2008 and 2009. There were attempts made by a variety of people to find strategic alliances with other car makers on a global scale and the government stepped in, as the actor of last resort. It had to do it because the consequences would have been just too large to deal with."
Following a massive bailout package to keep automakers from going under, the government acquired a stake in Chrysler Group. But on Friday, the government's stake in the company was bought out by Fiat in a $500 million deal to take over the government's remaining 6 percent stake in the company.
The US Treasury said they will take a loss of about $1.3 billion in the deal.
In Romney's op-ed, he wrote that if automakers received bailout money, "you can kiss the American automotive industry goodbye. It won't go overnight, but its demise will be virtually guaranteed. Detroit needs a turnaround, not a check."
Romney added: "It is not wrong to ask for government help, but the automakers should come up with a win-win proposition. In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check."
In light of the apparent turnaround in the auto industry, Romney has contended that the Obama administration has followed his advice by combining corporate interests with government financial help.
Related political news:
- A Rasmussen survey released Monday said that 49 percent of likely voters believed that Mitt Romney was qualified to be president. Other Republican candidates included in the survey were: Tim Pawlenty (27%), Ron Paul (27%), Newt Gingrich (26%), and Sarah Palin (23%).
- Republican presidential candidate Herman Cain believes his biggest threat is Mitt Romney's money, not the man himself.
- Mitt Romney and his Mormon religion is the subject of a recent Newsweek feature, posing the question about whether a Mormon can become president.
- Over the weekend, Ron Paul narrowed his fundraising efforts by focusing on Mitt Romney, calling it "The Revolution vs. RomneyCare: Round One." Paul raised over $1 million online.
- Jon Huntsman Jr. announced his campaign strategy over the weekend, saying he wouldn't pay much attention to Iowa. Top Iowa Republicans, however, are criticizing the former governor on his strategy, saying Huntsman is "not ready for the big dance," and that he needs "a lesson in Iowa politics."
E-mail: jfurlong@ksl.com
