"I’ll take a lot of credit for the fact that this industry’s come back," Romney told WEWS-TV in Cleveland. Speaking after a campaign stop at a metal stamping facility in nearby Euclid, Romney said the industry needed to enter a "managed bankruptcy" process in order to fully recover – and that was what eventually helped American automakers get back on their feet.
"My own view is that the auto companies needed to go through bankruptcy before government help," Romney said. "And frankly, that’s finally what the president did. He finally took them through bankruptcy."
Responding to the former Massachusetts governor’s comments, President Barack Obama’s national campaign co-chair Ted Strickland said Romney was trying to "fool" Americans with his remarks.