Friday, November 14, 2008

My opinion Thomas L. Friedman : Government has protected Detroit automakers to death (Arizona Daily Star)

I was in a hotel room watching CNBC early one September morning. They were interviewing Bob Nardelli, the CEO of Chrysler, and he was explaining why the auto industry, at that time, needed $25 billion in loan guarantees. It wasn't a bailout, he said. It was a way to enable the car companies to retool for innovation.

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