FROM Bruce Belzowski
Today, It's Chrysler... Tomorrow, GM? Big banks who've accepted billions in federal bailouts had little choice when President Obama demanded that they take "haircuts" to keep Chrysler in business. But smaller investors, including hedge funds, said no deal, and now Chrysler's reorganizing in bankruptcy court.
Today, It's Chrysler... Tomorrow, GM? President Obama says he does not want to run a big automaker , but the federal government could end up owning 50% of General Motors. In the meantime, it will own 10% of a new, multi-national company when Chrysler merges with Fiat , presuming, of course, that bankruptcy goes well. Big banks who've accepted billions in federal bailouts didn't have much choice when Obama demanded they take "haircuts" to keep Chrysler in business. But smaller investors, including hedge funds, said no deal, forcing Chrysler's reorganization in bankruptcy court. We hear about the economics and politics involving investors, unions, part suppliers and dealers. Also, what about the cars? Will American drivers change their ways and go European?
"Tough on crime" rhetoric sees a revival at Sessions' DOJ The pendulum swings between treatment-focused approaches to drug abuse and tough law enforcement. Now, after years of Obama-era "reforms," President Trump’s Attorney General, Jeff Sessions wants local police freed from federal restrictions to fight another "war on drugs."
Mixed Messages from US diplomats on the new hard line on Syria Since President Trump's surprise retaliation against Syria's use of chemical weapons, Bashar al-Assad has used the same airport to launch conventional attacks on his own people. It's not clear what the US, its allies — or Vladimir Putin's Russia -- plan to do now.
In Janesville, WI, Middle America meets the new American dream Janesville, Wisconsin is the hometown of Republican House Speaker Paul Ryan. But he couldn't prevent the closing of the General Motors factory after 100 years. We hear what's happened to what once was a model of American middle-class unity.