GM's Bankruptcy and Your Wallet
Gene Sperling of the White House Auto Task Force on the short- and long-term impacts of GM's bankruptcy on taxpayers. At this point, the government has already plowed about $50 billion into General Motors. Sperling describes how GM was inflexible and producing too many automobiles, and now he says, the American public should have confidence in the 'new' GM given the changes initiated by GM and the Obama administration. What's more, the influence of government will be minimally-invasive, according to Sperling, and major decisions regarding GM's future will remain in the company's hands.
