Hi Michael:
Actually, Chrysler received a loan guarantee. It received no money from
Congress. On the basis of the guarantee, money was lent, and as you have
stated, paid off early.
John
>At 02:35 AM 12/2/97 -0800, you wrote:
>>John McEwen wrote:
>>> To think that the greatest auto and
>>> motorcycle names of Britain are dead and gone - Austin and Morris, BSA and
>>> Norton - is a sad commentary on the history of a great nation. No other
>>> country stood by and witnessed such an amazing loss.
>>
>>That's where I might have to differ on this argument. Didn't Chrysler almost
>>disappear in the late eighties/early ninties? I remember hearing rumours
>about their
>>demise, but no talk of what would be done. Thankfully, they pulled
>themselves up by
>>the bootstraps and built the new Ram trucks. If I'm wrong, please correct
>me, this
>>is only what I had heard at the time.
>
>Mr. Lee went to Congress hat in hand and received a massive loan for
>Chrysler. To that august body's credit, Congress didn't really try to run
>Chrysler. And to Mr. Lee's credit, Chrysler paid the loan off early.
>
>Michael, New Bern, NC
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