Tagged: Economy

Chrysler, Ford and General Motors gained market share in the past couple years. Helped by Toyota's much-publicized recalls, the problems that Japanese carmakers faced after last year's earthquake and tsunami, and an improving reputation for the quality of American-made vehicles, Detroit's Big Three grabbed 47 percent of sales last year — up from 45.1 percent in 2010 and 44 percent in 2009.

Our friend Micki Maynard of Changing Gears, though, reports that the Detroit companies' comeback — in terms of market share — may be over.

Steven Rattner — the "car czar" when the Obama administration was restructuring the auto industry in 2009 — today spoke in favor of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

But it wasn't exactly a double thumbs up.

On a panel at an ideas conference in New York City, Rattner noted that before the financial crisis began in 2008, Wall Street was the "global leader in finance. ... But of course, it got out of control."

The 2012 presidential election is approaching, and President Obama's fate may hinge on how well the economy fares over the coming months.

On the campaign trail, Republican presidential candidate Mitt Romney has been highlighting the economy's weaknesses. The former Massachusetts governor has made a similar claim about the president, and the recession, at almost every campaign stop.

"I don't blame the president for the downturn," Romney told a crowd in New Hampshire earlier this year. "He didn't cause it. But he made it worse and made it last longer."