Cheney opposed auto industry bailout

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WASHINGTON, Aug. 30 (UPI) -- Former U.S. Vice President Dick Cheney says he opposed a federal rescue of the auto industry, saying he would have preferred the government not get involved.

In his book, "In My Time" published Tuesday, Cheney said he understood why former President George W. Bush wanted to give the incoming Obama administration time to decide on its policies but "I would have preferred that the government not get involved and was disappointed -- but not surprised -- when the Obama administration significantly increased the government intervention in the automobile industry shortly after taking office," The Detroit News reported.

"I had continued throughout my career to be philosophically opposed to bailing out specific companies or industries," he wrote, noting he voted against the 1979 government loan guarantees to Chrysler Corp.

By contrast, Cheney said he supported the $700 billion Troubled Asset Relief Program to keep the banking industry from collapsing.

Cheney also said he offered to resign three times -- the first two times rejected immediately by Bush. The third time, he wrote, Bush took some time to think it over.

In an NBC "Dateline" interview Cheney defended the practice of waterboarding, saying, "It produced results." Waterboarding, which had been used on terror suspects, simulates a sensation of drowning.