Tuesday, November 09, 2010

Overhaul: New Book Lifts the Lid on GM and Chrysler

Motor Trend's Todd Lassa writes about Steven Rattner's book Overhaul in Notes From the Revolution: Rattner's Overhaul:
Overhaul makes a strong case for the bailouts, though. Saving GM and Chrysler was not socialism. It was pragmatic, balanced capitalism with government oversight. It saved jobs, and with the distasteful bailout of the banking industry, likely prevented a depression potentially far worse than the great one of the 1930s.
"It is disappointing that the companies seem to be doing so well in this economy, and there's overwhelming opposition" to the bailouts, Rattner told me. He credits the opposition to "frustration and unhappiness about the state of the economy."

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