Motor City Mourns as GM Files For Bankruptcy

One of the "Big Three" carmakers struggles to stay alive

Monday, June 01, 2009

General Motors is expected to file for bankruptcy this morning, leaving thousands of workers in Detroit worried about what will happen next. To talk about this American business milestone is Jerome Vaughn, the news and program director at WDET Detroit Public Radio.

Guests:

Jerome Vaughn

Contributors:

Nadia Zonis

Comments [1]

Dave Brubeck

This nationalization of the banks and auto industry is very reminiscent of the nationalization of the railroads in Ayn Rands Atlas Shrugged. This goes against everything we stand for in the US. It's one thing to willingly buy stock or bonds in a poorly run company and another thing to be forced into investing in it with your tax dollars. How far into debt will the government drive the country until the value of our currency completely collapses? We need to stand up and demand fiscal responsibility for our elected officials. At current time about twenty percent of your tax dollar goes towards paying interest on the governments debt.

Jun. 01 2009 08:35 AM

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