A watchdog says the U.S. government expects to lose $9.7 billion on its bailout of General Motors.
During the bleakest days of the Great Recession, Congress agreed in bipartisan votes to bail out two of Detroit’s biggest businesses, General Motors and Chrysler.
Chrysler says it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire.
As the campaign draws to a close it has become very apparent that Obama will return to the White House and that Harry Reid will lead a Democratic Senate.
Auto manufacturing is back in America – especially in Michigan, Ohio and Pennsylvania because President Obama made the politically risky decision to bailout the auto industry after bailing out the banks. It was a decision that worked. Obama was right, Romney was wrong. So Romney is now in full lying mode. He is trying to retroactively re-write the wrongs in his writings.
Yes, it’s great that all turned out well for the auto workers, but it is absolutely horrendous to know that the American taxpayers via President Obama’s actions could have been left standing for billions of dollars – and still might.
What was most clear tonight, though, is that Mitt Romney has no idea how the world works and the Office of the President is no place for on the job training.
With the CBS Local Presidential Forum coming to a close Barack Obama and Mitt Romney take their chance to set the record straight, pointing out the false accusations their opponent has leveled and giving their response.
President Barack Obama is hailing the rebound of the U.S. auto industry, pointing to progress since his administration rescued General Motors and Chrysler.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.