agent Entrepreneur logo
MenuMENU
SearchSEARCH

Bush Book Defends Auto Bailout, Criticizes Detroit Three

November 9, 2010
2 min to read


WASHINGTON — Two years after leaving office, former President George W. Bush remains a harsh critic of the executives he believes led the U.S. auto industry down the path to self-destruction. His new book, “Decision Points,” will be released today, and it includes a behind-the-scenes look at the government’s Troubled Asset Relief Protection (TARP)-enabled bailout of General Motors Co. and Chrysler LLC.


Bush has a contentious history with the domestic automakers. In his second term, he challenged them to “build a product that’s relevant” and, according to the book, rejected a request for aid from GM’s then-CEO, Rick Wagoner, shortly before the 2008 presidential election. As newly elected President Barack Obama prepared to take office, he and Bush met several times to discuss issues Obama would confront in the new year. In their first meeting, Bush says he told Obama he would not let the automakers fail.

Ad Loading...


The next week, Wagoner would join Chrysler CEO Robert Nardelli and Ford Motor Co. chief Alan Mulally in two congressional hearings to request immediate aid for GM and Chrysler and an emergency line of credit for Ford. In December, Bush would authorize a $17.4 billion bailout under the TARP, calling it “the only option.”


“I had hoped we could convince Congress to release those loans immediately, so the companies could survive long enough to give the new president and his team time to address the situation,” Bush writes. “The Senate wouldn't budge.”


Bush has since come under fire from Obama and others for not demanding more from the automakers in return for the loans. But the former president described the terms as “stringent” and forced the Detroit Three to rewrite their business plans.


Nevertheless, Bush writes, “It was frustrating to have the automakers’ rescue be my last major economic decision.”

More Industry

F&Iby Lauren LawrenceFebruary 27, 2026

Price Driving Insurance Churn

Over half of insurance holders ages 18 to 29 reported to be 'somewhat' likely to change providers in the next 90 days, according to CivicScience, which found that interest was lower among older age groups.

Read More →
Industryby Lauren LawrenceFebruary 26, 2026

AI Drives Dealer Website Traffic

Total visits to dealer websites from generative artificial intelligence platforms grew more than 15 times year-over-year, signaling a shift in how many consumers shop for cars online.

Read More →
Industryby Hannah MitchellFebruary 26, 2026

Automakers Tops in Fuel Economy

In the U.S., Honda has the most efficient gas-electrified combo lineup while Tesla beats all automakers in annual EPA ranking as brands built their alternative-fuel offerings.

Read More →
Ad Loading...
F&Iby Lauren LawrenceFebruary 25, 2026

Report Finds Year-End F&I Strength

Deal volume ebbed and flowed throughout 2025, but product performance remained steady, according to automotive technology and data intelligence solutions provider StoneEagle.

Read More →
Industryby Hannah MitchellFebruary 24, 2026

Overall Consumer Confidence Up

Americans’ view of present business conditions, the labor market and family finances, though, are still in the dumps, and if they plan to buy cars, many target used units.

Read More →
Auto Financeby Lauren LawrenceFebruary 23, 2026

Auto Loan Forecast Bucks Market Trend

Auto loan originations rose over 6% year-over-year in the third quarter of 2025, but TransUnion predicts a slight decline in auto loan growth this year, making it an outlier in the company's overall lending forecast.

Read More →
Ad Loading...
F&Iby Hannah MitchellFebruary 23, 2026

Some Auto Brands Cheaper to Insure

A new top 10 list ranks the least expensive for average full insurance coverage on a clean driving record and high driver credit scores.

Read More →
Industryby StaffFebruary 20, 2026

Learn to Manage the Mayhem at Agent Summit

Rob Mancuso – president of Mancuso Automotive – will present a Keynote at the 2026 event.

Read More →
Fixed Opsby Hannah MitchellFebruary 20, 2026

Auto Recalls Sank Last Year

2025 Sedgwick data indicate that the number of vehicles affected fell to its lowest point in more than a decade.

Read More →
Ad Loading...
Industryby Lauren LawrenceFebruary 19, 2026

Affordability Leads Top-Rated List

Edmunds’ editorial team tested 300-plus vehicles to help determine the Top Rated Awards for 2026, and one brand stood out with multiple rankings, including Best of the Best.

Read More →