Ground zero Detroit: Auto industry, foreclosures, and the recession hit hard

Friday, February 20, 2009

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.


Jerome Vaughn

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.

Feb. 20 2009 09:59 AM

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