1. White House Auto Bailout
... richer. In fact, the reason that the companies are struggling is more closely tied to the sub prime mortgage meltdown than one might at first recognize. The first casualties of recession are debtors, and like the Mortgage industry, the Auto industry depends on people paying down the notes that they finance. Unfortunately for the auto industry, most people will miss a car payment before they do a house payment, and those unable ... to extend their home credit to eat their car loans, end up leaving the car companies holding the bag. Nobody is happy about the state of the economy, but the ...
- Word Count: 552
- Approx Pages: 2
- Grade Level: Undergraduate