Marketplace Scratch Pad

Cash guzzlers

Paddy Hirsch Mar 20, 2009

The US auto industry is really sucking wind, if Steven Rattner, the Treasury’s auto adviser has it right. Bloomberg quotes him saying $21.6 billion may not be enough.

“It could be considerably higher, I won’t deny that,” Rattner said, when asked whether U.S. aid sought could rise to $30 billion or $40 billion. “What they’ve asked for depends on them achieving plans that are somewhat ambitious,” Rattner said. “Like all management teams they tend to take a reasonably, slightly perhaps, optimistic view of their business. So it could be more, I can’t rule that out.”

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.