It is the American people that drives the economy, not Obama. He deserves no credit, zero, none.
By propping up GM and Chrysler, the suppliers the industry relies on are able to continue
It's easy to look at the bailouts and bankruptcies of General Motors and Chrysler as a big-government bonanza. Some even see tints of socialism in the loans and subsequent government ownership stakes. But as Ford points out today, there was more at stake than just two companies.
The entire industry, and in some ways, the entire U.S. economy, was riding on the survival of GM and Chrysler, says Ford Motor Co executive chairman Bill Ford, Jr. "It would have been so catastrophic to have a supply-base meltdown because it would have brought down all the auto manufacturers and frankly some other industries as well," Ford told CNBC TV according to an Automotive News report.
So much for President Obama’s Wall Street problem.
About a third of the money raised by Obama’s top fundraisers this year came from the financial sector, suggesting that strained relations with Wall Street have not hurt Obama’s ability to attract donations there, according to new data from the Center for Responsive Politics released Friday.
The numbers represent a notable increase from 2008, when bundlers in the investment and banking arena accounted for about 20 percent of the total brought in by top fundraisers for Obama.
Republicans who've worked unceasingly to weaken and kill any legislation to regulate and oversee the operations of those crooks on Wall St., aren't you, Hawkeye? Eh, what's that? Can't hear you, Hawkeye.
mysteryman, you've just libeled me on a public forum...