Romney Op-Ed declares auto bailout 'crony capitalism'

Republican candidate Mitt Romney ramped up his Michigan media presence with an Op-Ed in The Detroit News reaffirming his viewpoint that the handling of the auto industry bailout was bungled.

Republican candidate Mitt Romney ramped up his Michigan media presence with an Op-Ed in The Detroit News reaffirming his viewpoint that the handling of the auto industry bailout was bungled.

While not denying that Chrysler and General Motors are doing well today, Romney wrote that the companies could have gotten there without the aid of the government, which he dubbed "crony capitalism." Instead he favored managed bankruptcy.

Managed bankruptcy may sound like a death knell. But in fact, it is a way for a troubled company to restructure itself rapidly, entering and leaving the courtroom sometimes in weeks or months instead of years, and then returning to profitable operation,” Romney wrote.

The Op-Ed is part of an aggressive communications push in the state to shore up his chances of winning Michigan's primary Tuesday, February 28. National polls show Romney and former Sen. Rick Santorum (R-PA) are neck and neck in the Michigan primary. After Santorum's sweep of three states last week in the Republican nomination contest, the candidate has surged in national polls.

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