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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
Auto Industry Bailout
November 17, 2008 6:53 pm (EST)
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- Blog posts represent the views of CFR fellows and staff and not those of CFR, which takes no institutional positions.
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The drying up of credit markets, first in securitization, then in bank lending, has spilled over into the real economy. As the graph indicates, the absence of credit to finance car purchases has led to a decline in car sales, pushing U.S. automakers to the brink of bankruptcy. Given Wall Street’s rescue, some suggest that it is only fair to bail out the auto industry. However, critics claim that this use of taxpayer funds would only delay adjustment.
Reed, Simon: Detroit spinners?
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Feldstein: A Chapter For Detroit To Open
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