Among the federal government's most controversial actions during the Great Recession was the rescue of the automobile industry.
Investment banker Steven Rattner, who had no background in the automobile industry, was the Obama administration's point person while most of the decisions were made. His memoir, Overhaul: An Insider's Account of the Obama Administration's Emergency Rescue of the Auto Industry (Houghton Mifflin Harcourt, 336 pp.), takes readers behind the scenes when many of the key decisions were made. Like most such books, parts are quite self-serving, but readers willing to persist will learn a great deal about how the government makes key decisions.
The rescue, for which the government laid out a mind numbing $81.8 billion at the beginning, featured several clashes of ideology and culture that Rattner, who had initially been reluctant to accept the job, discusses at great length. He found himself frustrated with the glacial pace of government decision making and angry at the intransigence and self-delusion of the executives of Chrysler and General Motors.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
