This photo has shown up in the United States Library Of Congress by way of another blog.
"Title: Detroit, Michigan. Fashion show presented by the Chrysler Girls' Club of the Chrysler Corporation at Saks Fifth Avenue store. Girl modeling brassiere and pantie girdle."
http://en.wikipedia.org/wiki/Betty_Ford She was a lady I respected for a number of reasons.
If you go to the Wikipedia page above you'll see that she was in the Detroit area around that time, a model, dancer, and fashion coordinator and newly married to her first husband. There is a period photo of her in Martha Graham's auxiliary troupe. Compare the photo with the LOC photo. (I think her knees confirm the match.) She would be around 22 at the time of the photo.
Also compare her striking features from these 1930s 40s photos of Betty Ford with the model in the photo.
I think I may have a match to the model in the LOC photo as our very respected and talented First Lady, Elizabeth Ann Bloomer Warren "Betty" Ford.