Filed under: Government/Legal, Chrysler, GM
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[President George W. Bush](http://www.autoblog.com/tag/president george w bush) recently spoke to a gathering of auto dealers in [Las Vegas](http://www.autoblog.com/tag/las vegas), saying that while he believes in the free market under normal conditions, he doesn’t regret the $700 billion bailout fund used to rescue [General Motors](http://www.autoblog.com/tag/general motors) and Chrysler from the brink of collapse. Bush was quoted as saying he’d do it again, and that he didn’t want there to be a 21 percent unemployment rate. The former leader avoided addressing remarks from the current gaggle of Republican presidential candidates who have criticized his decision to lend a hand to banks, insurers and automakers.
“If you make a bad decision, you ought to pay,” Bush said. “Sometimes circumstances get in the way of philosophy.”
Bush championed a $17.4 billion bailout for the two automakers in December of 2008 as part of the $700 billion Troubled Asset Relief Program. Republican presidential candidate Mitt Romney has said both Bush and current [President Barack Obama](http://www.autoblog.com/tag/president barack obama) were mistaken in bailing out the auto industry. Instead, Romney believes GM and Chrysler should have been allowed to go into a controlled bankruptcy from the start.Bush says he’d pull the trigger on auto bailouts again originally appeared on Autoblog on Tue, 07 Feb 2012 10:29:00 EST. Please see our terms for use of feeds.
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