Auto Bailout: The Next Steps
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🚗 By December 2008, Michigan’s auto industry was days away from a total collapse. On December 19, the U.S. government issued $17.4 billion in emergency loans to keep GM and Chrysler afloat. This massive lifeline saved an estimated one million jobs across Michigan and the Midwest. The bailout prevented a local depression and bought the Motor City time for a historic turnaround. #ford #GMC #Chrysler #financialcrisis #AutoHistory | Welcome Home History
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