Rattner's Legacy: The Chooch Is At the Door
GM's sales are down 45% from last September (when sales were already bad enough to drive the company into banrkuptcy). Chrysler is down 42%. Ford is only down 5%. Car buyers are clearly punishing the two bailout recipients brutally. Robert Farago of Truth About Cars predicts that GM and Chrysler will both 'go down by the end of next year' without a second, new federal bailout. The only question, he says, is whether the two bailed out manufacturers will need the cash before the 2010 midterm elections."
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