Former Obama car czar Steven Rattner went after Republican Mitt Romney in a New York Times op-ed on Friday, saying that GM and Chrysler could not have survived without the government bailouts and would not have done so through “managed bankruptcies” as Romney has suggested.
Romney took the position that the companies could have been saved by private capital, but Rattner challenges the former Massachusetts governor to name an investor who would have taken the risk.
“If Mr. Romney disagrees, he should come forward with specific names of willing investors in place of empty rhetoric," Rattner wrote. "I predict that he won't be able to, because there aren't any."
Romney’s opposition to the auto bailout has been a sticking point leading up to the Republican primary in Michigan next Tuesday, where rival Rick Santorum has mounted a strong challenge. On Thursday, the Obama campaign announced a new ad buy in the state touting the auto bailout and calling out the Republican candidates for their opposition.