to pick up and help the business community meet their training needs. >> thank you. how would have you voted for t.a.r.p. money? in particular, for the auto loans to gm and chrysler? romney has stated he would not have supported the decision to bail out the auto industry in 2009. >> i've heard that. i take a little different position than governor romney. governor romney supported the bailout of wall street and decided not to support the bailout of detroit. my feeling was that we should not support -- the government should not be involved in bailouts, period. i think that's a much more consistent position. it's one that -- that if you -- if you look at what happened with -- by the way, it's not the obama administration. i know governor romney focuses on the obama administration. and that's the reason he does, is because he supported what the bush administration did. well, i didn't. i opposed what the bush administration did. and have been a consistent critic of it. i was not in public life at the time and certainly wasn't back in 2008 considering any kind of run for office ever again. but i did make my opinions known within the administration of what

to help the business community meet their training needs. >> how would you have a voted for tarp money, in particular for the auto loans to gm and chrysler? mitt romney has stated he would not have voted to bail them out. >> i have heard that. [laughter] i take a little position -- a little bit different position than romney. he supported the bailout of wall street and not a bailout of detroit. my position is that governments should not be involved in bailouts period. by the way, it is not the obama administration. i know that governor romney focuses on the obama administration but this began with the bush administration. i was a critic of it at the time. this was back in 2008, when i was not considering running for any kind of office again. i did make my opinions known within the administration that i thought what they were doing was wrong. they plowed ahead anyway and did some things i think or injury is to capitalism. what they should have done was let the market work. they started picking winners and losers -- does this sound familiar? once they decided picking winners and losers, the market decided we can wait. if they are going to p

the auto industries. number one, we've been kind of misled, really. what gm was paid back they took back another taxpayer loan to pay back their loan. two, they haven't paid back their bond holders yet. and three, as in the auto industry failing. gm and chrysler were the only ones failing. volvo, a nonunion factory and bmw in itself, also a nonunion factory. they were doing just fine and are still doing fine. >> let's take your point. first taxpayer loans to pay off other loans. >> here is the point. gm and chrysler both paid off their loans. they need the the support to get stabilized, to create jobs. it wasn't just bankruptcy. the president's leadership he negotiated tough concessions on both sides with management and labor. this is something that we needed to do at this time. so no, that kind of rescue was essential to keep industry stable. >> what about this issue of bond holders? they still haven't paid -- auto companies still haven't paid back bond holders. >> the auto companies are starting to make profits. they are making record profits but emerging out of bankruptcy. >> his final point, nonunion auto co

the president seems to think so. at the washington auto show on tuesday, he through a barb at mitt romney and his g.o.p. hershmen who opposed the $80 billion loan to gm chrysler even though they didn't explain when the banks and insurance companies received 700 billion. >> the fact that there were some folks willing to let this industry die. because of folks coming together, we are now back, back in a place where we can compete with any car can company in the world. >> in fact, in the past few years, since we were in the valley, the auto industry has added 170,000 jobs. and a lot of them are unionized. michigan alone added 44,000 new union jobs last year. second only to florida. and it's a great start, but it will take many more to satisfy the need. according to the detroit free press, chrysler has already seen 10,000 applications for the 1,000 jobs its planning to add in detroit next year. so with me now to talk about creating jobs, good middle class, good-paying jobs here in the united states and the role of unions in a global economy is bob king president of the united auto worker's union a group with 395,000 members. bob comes to us from ann arbo

would have done the same thing which gm threw a normal bankruptcy -- gm through a normal bankruptcy would have done the same thing? guest: probably not. the loans helped to provide the auto companies with the capital they need to restructure and ultimately create the jobs and profits they are enjoying right now and workers are in joining. host: david, missouri. an independent there. caller: i live in a rural area. i am disabled. i can not afford to buy the new cars anyway. when you are disabled the do not make that kind of money. every time we seem to start going in an upward direction, and gas prices keen because it seems to shoot up again. i keep hearing -- prices go up again. i keep hearing about manipulators. why can we not do anything on about that? also, alternative fuel -- they are using ethanol, and then we cannot afford to buy corn. host: congressman? guest: we have to diversify our energy supply, and that is what the president is talking about, natural gas, solar, and biofuel -- we have to look the range of resources that are available yes, i understand that, -- available. yes, i understand that, and that is why i think the president's energy policy is the appr

really because paid back, took back another loan to pay back their loans, they have not paid back the bondholders yet. three, as in the auto industry failing? gm -- [inaudible] volvo, nonunion factory and bmw also a nonunion factory. they are doing just fine and are still doing just fine. >> host: taking your points, first one, taking loans to pay off other loans. >> guest: they paid off the loans. they needed the support to get stablized and create jobs. it was not just a bankruptcy, and the president's leadership, he negotiated tough concessions on both sides with management and labor. this was something that we needed to do at this time, and so, no, that type of a rescue was essential to keep the auto industry stable. >> host: what about bondholders, still have nos been paid back. >> guest: the car companies are just now starting to make money. now that gm is making record profits, but, you know, again, it's the bankruptcy. >> host: volvo, bmw, non-union companies not in trouble and the other union companies were in trouble. >> guest: there were changes that need to be made. there was restructuring that needed to happen in the auto industry