Morning Brief: Nationalization for Detroit?
Top Story Congressional Democrats unveiled a $15 billion plan to bail out the struggling U.S. auto industry. Under the plan, companies would have until March 31 to submit detailed plans for restructuring their operations. Congress and the White House are still negotiating details of the plan today, but they appear to be close to a ...
Congressional Democrats unveiled a $15 billion plan to bail out the struggling U.S. auto industry. Under the plan, companies would have until March 31 to submit detailed plans for restructuring their operations. Congress and the White House are still negotiating details of the plan today, but they appear to be close to a resolution.
The plan involves a significant oversight role for U.S. government regulators and according to the New York Times‘ David Sanger, comes “perilously close to a word that no one in Mr. Obama’s camp wants to be caught uttering: nationalization.”
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Joshua Keating is a former associate editor at Foreign Policy. Twitter: @joshuakeating
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