Obama’s Auto Industry Bail-Out is Working – Who Knew?

It seems as if Obama and his administration’s decision to bailout the Auto industry giants such as GM and Chrysler has paid off or at least is paying off and is on the right track.

GM has paid back a 6 billion dollar plus loan ahead of schedule. The simple fact that this was possible so early by the folks at General Motors as it emerges from their financial hardship is outstanding.



More good news and supporting evidence that Obama new what he was doing comes from Chrysler. They have pulled off what I would have shamefully called impossible, they are operating profitably.



The biggest surprise to me however was the notion that over the last three quarters the US auto industry has added 45,000 jobs. That is just awesome.



I suppose we should start giving Obama some credit, especially the finance world, for his leadership and establishment of economic recovery plans and programs that thus far seem to be working. The Making Home Affordable Plan that created such mortgage assistance programs such as HAMP and HARP have done very well, much better then I expected. HAMP - the Home Affordable Modification Program Obama's mortgage modification assistance has helped over a million Homeowners.

HARP is the Home Affordable Refinance Program and has also done well when you consider that it is a mortgage refinance program

 
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