Romney Takes Credit for Domestic Auto Turnaround

Mitt Romney the presumed Republican presidential nominee and vocal opponent of the U.S. government's $62 billion bailout of Chrysler and General Motors says he deserves "a lot of credit" for the rebound of the two companies.

Romney tells a Cleveland, Ohio, television station that President Barack Obama followed his suggestion that the carmakers be forced to restructure in Chapter 11. But Romney opposed taxpayer financing to carry the companies through bankruptcy and maintain operations.

Obama's auto task force and many analysts say no private lender was willing to make such risky loans, especially during the financial markets crisis. They also contend that it was the government's involvement that got both companies into and out of bankruptcy in less than two months each, thus avoiding serious damage to their business.