President Obama insists his administration’s plans will help insure auto industry’s futureAmerican Auto Industry | Today 1:55 pm

Barack Obama refuses to sit by and let the American auto industry squander its bailouts.

As Chrysler and General Motors struggle to find their footing amid the economic crisis, the president today announced new plans to save the ailing companies. And those plans call for a complete overhaul. Appearing at the White House, Mr. Obama insisted that if the companies want more taxpayer money, they’re going to have to make some serious changes.

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p> For example, Chrysler must find a way to strike a deal with Italian company Fiat because, according to administration economists, the legendary automaker cannot survive on its own. GM chairman Rick Wagoner was fired this weekend after the administration put a ...

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