Did the auto industry bailout work? New numbers from the Bureau of Labor Statistics suggest it did, with unemployment rates dropping faster than the national average, due in part to jobs created by the auto industry. This could be the push President Obama needs to stay on top until November, but as the rest of the country continues to struggle, it might not be time to raise the victory flag quite yet.
Steven Rattner, the Obama Administration’s former Car Czar, who led the effort to restructure GM and Chrysler, gives an insider’s account of the process. In Overhaul: An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry, he tells what happened during the historic auto-industry intervention, covering political brinkmanship, corporate mismanagement, and personalities under pressure. He also explains the tough choices he and his team made to keep Chrysler and General Motors in operation.
Steven Rattner, President Obama's former car czar and author of Overhaul: An Insider’s Account of the Obama Administration’s Emergency Rescue of the Auto Industry in America, discusses his new book and whether the bailout of the auto industry was good for America.