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Local Car Dealers React To New Direction Of Bailout Plan
Posted: 11/13/2008
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Car dealers are reacting today to Treasury Secretary Henry Paulson's tweaking of the bailout plan. Yesterday, Paulson announced a new direction that could help consumers get loans.
The redefined plan would focus the government aid on banks instead of buying troubled assets from financial firms.
Banks that need to borrow money before they can lend it would benefit, and should make it easier for consumers to get car loans.
Many Traverse City car dealerships are hopeful the new plan will brighten things up for the auto industry.
9&10's Erika Waddell and photojournalist Josh Strand have the story.
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