Updated 11:58 a.m. ET

Mitt Romney is criticizing President Obama's handling of the auto industry bailouts, saying in an op-ed column today that it was "crony capitalism on a grand scale."

"The president tells us that without his intervention things in Detroit would be worse. I believe that without his intervention things there would be better," the former Massachusetts governor wrote in a column for The Detroit News.

The column comes as Romney is trailing Rick Santorum in two new polls in Michigan, the state where Romney was born and that he won in the 2008 GOP primary campaign.

But the auto bailouts pose a challenge for Romney, who has had to explain his 2008 New York Times column that was headlined "Let Detroit Go Bankrupt." In that piece, Romney argued for a "managed bankruptcy" of Chrysler and General Motors.

In his latest op-ed piece, Romney argues that it's time for the Obama administration to divest itself of its ownership stake in GM and turn proceeds over to American taxpayers.

He also acknowledges that managed bankrupcy, which he advocated four years ago, "may sound like a death knell." Romney explains:

But in fact, it is a way for a troubled company to restructure itself rapidly, entering and leaving the courtroom sometimes in weeks or months instead of years, and then returning to profitable operation.

The Democratic National Committee is hitting back, saying Romney is "attempting to rewrite history" on the auto bailouts in an e-mail to reporters. The e-mail includes a long list of links and snippets to newspaper articles that say the managed bankruptcy that Romney advocated for the industry was not possible.

Obama campaign strategist David Axelrod tweeted:

Does anyone believe what Mitt says: that the American auto industry would be better off today if the President hadn't intervened in 2009?

Romney's op-ed column in the Detroit newspaper is also striking because he stresses his Michigan roots. He calls himself a "son of Detroit" who grew up "drinking Vernors," a brand of ginger ale, and watched ballgames "at Michigan & Turnbull."

He also mentions his father, George, who became head of American Motors Co. in 1954. George Romney later was elected Michigan's governor.