Obama Announces Terms Of Latest Auto Industry Bailout

WASHINGTON - MARCH 30: U.S. President Barack Obama (C) makes an announcement as (L-R) former National Economic Adviser Gene Sperling, Executive Director of the task force and Chief Economist and Economic Policy Adviser to the Vice President Jared Bernstein, National Economic Council Director Lawrence Summers, White House Budget Office Director Peter Orszag, Secretary of Transportation Ray LaHood, Secretary of the Treasury Timothy Geithner, former Deputy Labor Secretary Edward Montgomery, Secretary of Commerce Gary Locke, Secretary of Energy Steven Chu, Council of Economic Advisors Chair Christina Romer, and White House Energy And Climate Adviser Carol Browner listen at the Grand Foyer of the White House March 30, 2009 in Washington, DC. Obama unveiled the details of his administration's plan on dealing with the auto industry crisis. He also named Montgomery to be the new director of Recovery for Auto Communities and Workers. (Photo by Alex Wong/Getty Images)