GM-Chrysler Bailout: Was It A Blank Check?

WASHINGTON — To hear President Barack Obama’s account of the government’s rescue of General Motors and Chrysler, you might think the Bush administration handed the automakers a big blank check – billions of dollars in loans with no strings attached.

Obama, defending his administration’s relations with the business community on Monday, said the White House knew the bailout of GM and Chrysler would be unpopular with the public but was crucial to preserving 1 million jobs. He said his administration forced the auto companies to make drastic changes in return for the money, unlike his predecessor.

Read more: Gm, Chrysler, Auto Bailout, Bailouts, GM Bailouts, Chrysler Bailout, Financial Crisis, Economic Crisis, Fact Check, Business News


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