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This article describes the auto industry bail out, ultimately concluding that it was a success on part of the Obama administration. What are your critiques of the author's opinions? How was this bailout different from the too-big-to-fail bailout? Was it indeed a success?
http://www.bloomberg.com/news/2011-05-31/obama-deserves-a-victory-lap-for-automaker-rescue-commentary-by-ron-klain.html
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Obama's forced restructuring of the auto companies is exactly what needs to happen to our government at all levels in order to stop the our free fall into debt.
ReplyDeleteI think it was fairly successful. The auto industry was able to partially free themselves from the death grip of the unions. They were also able to begin the process of innovation and update their cars to better compete with foreign competitors.
ReplyDeleteIt's funny to read the comments at the bottom of the article's page because the author seems to be the only one happy with the bailout. I do think that it was necessary to bail them out because of the negative effects that would occur to the Michigan economy if they didn't bail them out. I like Chris' point that they started building better cars that can compete with foreign carmakers because this will help their future success significantly.
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