The Corner

Obama Doesn’t Understand Bankruptcy

Saying that Romney was going to let GM go bankrupt (which is the right answer), and he had no plan to rebuild it, suggests that Barry doesn’t understand that bankruptcy allows you to reorganize. In fact, his plan saved union jobs. Getting rid of union contracts might have made GM way more competitive.

That attack on Romney’s “one-point plan” — low taxes for the rich — clever. But not much there — if Romney gives us the substance he had last time.   Romney needs to make sure he does not let Obama define his policies. That is a cheap trick of his, which works all too often.


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