Reshared post from +John Biaggio
"Did President Obama save General Motors?" Reynolds asked
"Without the money, without the funding, it would have been very problematic," said Akerson. "At the risk of alienating a whole lot of potential customers, I would say the Obama administration did a good job."
Republican presidential hopeful Mitt Romney and other critics have argued the bailout was unnecessary, and that the regular bankruptcy process would have made GM and Chrysler stronger companies.
"Would that have happened?" Reynolds asked.
"Not in my opinion," asked Akerson. "It would have been in bankruptcy for years and I think you could have written off this company, this industry and this country."
GM chief: “We got a second chance”
As company reports record earnings, CEO Dan Akerson tells CBS News the company would have been bankrupt for years without bailout
Post imported by Google+Blog for WordPress.