26 Feb '12, 11am

US auto industry bailout was necessary Analysts

US auto industry bailout was necessary Analysts

The United States (US) auto industry could have gone belly-up if Washington had not rescued General Motors (GM) and Chrysler in 2009, analysts say, as Republican White House hopefuls continued to call the bailout another sign of 'big government' invading business. -- PHOTO: AFP WASHINGTON (AFP) - The United States (US) auto industry could have gone belly-up if Washington had not rescued General Motors (GM) and Chrysler in 2009, analysts say, as Republican White House hopefuls continued to call the bailout another sign of 'big government' invading business. Days before primary votes in key auto industry states of Michigan and Ohio, Republican frontrunners Mitt Romney and Mr Rick Santorum are blasting President Barack Obama for not leaving the two imperiled auto giants to the dynamic processes of the free market and private capital. But economists say that the US$80 billion ...

Full article: http://www.straitstimes.com/Motoring/Story/STIStory_77096...

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