Automakers’ Bailout and Bankruptcies Shortchanged Accident Victims

junker-wide

Marian Wang: The U.S. Treasury still holds a stake in Chrysler that it intends to sell, and an Obama administration official has said that the government doesn’t expect to fully recover about $1.9 billion in remaining investments.

Specifically, What Should Be Done for Jobs?

Alan Greenspan cartoon

It would be hard to get a new stimulus package through Congress, but no member who’s up for reelection next year when unemployment is likely to be in double digits wants to be accused by rivals of voting against steps to help small businesses, public schools, childrens’ health, and average working people who need a tax cut.

White House and TARP to the Rescue — of Automakers, but not of States and Locales

detroit-flying

by Robert Reich – What now for the automakers? The Troubled Assets Relief Program — TARP — was enacted to save Wall Street but it’s already been so twisted out of its original shape by Hank Paulson that a bit more twisting to save the Big Three from bankruptcy over the next few weeks won’t [...]

Why the Automakers Won’t Make Fuel-Efficient Cars, Even as the Price of Being Bailed Out

detroit

by Robert Reich – Telling automakers to make more fuel-efficient cars as a condition of being bailed out is like telling Citigroup or any other big bank to issue more affordable loans to Main Street as a condition of being bailed out. It won’t happen.

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