Stimulating African American Economic Development: Lessons from G.M.
(Washington Informer) — President Barack Obama reached another significant milestone on the long difficult road toward economic recovery of the economy in the United States when General Motors (G.M.) recently launched one of the largest initial public offerings (IPO) in American history. I believe that the proper stimulus investment in the African American business community will also bring a much-needed economic recovery. To the astounded pseudo-economists and near-sighted politicians who vociferously criticized President Obama for using federal stimulus funds to reorganize and stabilize G.M., the fact is the stimulus worked. The investment of taxpayers’ dollars worked to save G.M. jobs and to catalyze a financial rebirth of G.M.
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