Obama on GM Bankruptcy

UpTakeVideo
June 02, 2009
THE PRESIDENT: Good morning, everybody. Just over two months ago, I spoke with you in this same spot about the challenges facing our auto industry, and I laid out what needed to be done to save two of America's most storied automakers -- General Motors and Chrysler. These companies were facing a crisis decades in the making, and having relied on loans from the previous administration, were asking for more.