Facing a triple threat from the spiraling economy, mortgage foreclosures and an ailing auto industry, President Obama began his economic counteroffensive this week. He signed a huge stimulus bill, was given a multi-billion dollar plan to restructure car makers and announced a $50 billion foreclosure rescue. All of these moves resonate in Detroit, a city struggling with foreclosures and ground zero of the auto industry meltdown. Jerome Vaughn is the News Program Director at
WDET-FM in Detroit and he joins The Takeaway this morning.
Comments [1]
This is a bailout of the UAW; a payback for the support they gave to President Obama during the campaign. What's the major difference between Lehman Brothers and Chrysler? Lehman didn't have a UAW chapter.
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