Presumptive Republican nominee for the U.S. presidency Mitt Romney could speak about any number of issues… you know, like healthcare, the country’s dependance on foreign oil, or the country’s decreasing amount of students enrolling in engineering; but he instead decided to resurrect the three-year-old auto industry bailout, dragging the U.S. Treasury Department through the mud for not having dumped its 26.5 percent ownership stake in General Motors and blaming the department for holding back on selling the stock to avoid a multi-billion loss.
As was the case a few months ago, the Treasury would lose about $16 billion if it were to sell its remaining 500 million shares today; GM is trading $21.22 a share as of this writing. But that doesn’t matter to Romney, who says there’s “no reason” for holding on to the shares and that “he’d sell the stock quickly if he wins the White House” according to the Detroit News. A Treasury spokesman was quick to respond by saying “we have to balance maximizing recovery for the taxpayers with the speed of exit.”
On the other hand, Romney said that if he becomes President, he’d revisit Corporate Average Fuel Economy standards with the notion that “The best approach is to try and build vehicles that people want, rather than having the government telling the companies what they must make.” We tend to be supporters of that idea while fully understanding that the amalgamation of the various aspects that make people buy certain kinds of cars is a complex and elaborate subject matter… but that’s neither here nor there.
Our question to you is whether you agree with the potential POTUS about his stance regarding the Treasury. The comments, below, are wide open for your civil dialogue.