tag:blogger.com,1999:blog-34928391.post8753969265718535677..comments2023-10-12T03:32:59.387-05:00Comments on Truncated thoughts: Quote of the dayzbicyclisthttp://www.blogger.com/profile/10850387889082662189noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-34928391.post-45158510969408505432008-10-02T22:47:00.000-05:002008-10-02T22:47:00.000-05:00You are so right...The Chrysler bailout was a snee...You are so right...The Chrysler bailout was a sneeze compared to this flu.Erikhttps://www.blogger.com/profile/15635610912407767554noreply@blogger.comtag:blogger.com,1999:blog-34928391.post-89940868897484376732008-10-02T19:35:00.000-05:002008-10-02T19:35:00.000-05:00Yes, there's a certain irony to that.As Wikipedia ...Yes, there's a certain irony to that.<BR/><BR/>As Wikipedia notes, the Chrysler deal was a better bet than the current madness, although still a bailout:<BR/><BR/>"Realizing that the company would go out of business if it did not receive a significant amount of money to turn the company around, Iacocca approached the United States Congress in 1979 and asked for a loan guarantee. While it is sometimes said that Congress lent Chrysler the money, it, in fact, only guaranteed the loans. Most thought this was an unprecedented move, but Iacocca pointed to the government bail-outs of the airline and railroad industries, arguing that more jobs were at stake in Chrysler's possible demise. In the end, though the decision was controversial, Iacocca received the loan guarantee from the government."<BR/><BR/>http://en.wikipedia.org/wiki/Lee_Iacocca#Career_at_Chryslerzbicyclisthttps://www.blogger.com/profile/10850387889082662189noreply@blogger.comtag:blogger.com,1999:blog-34928391.post-24225098353064637682008-10-02T14:18:00.000-05:002008-10-02T14:18:00.000-05:00Although I agree with his statements, I find it ir...Although I agree with his statements, I find it ironically amusing that you chose a quote from Iacocca. Didn't the U.S. taxpayer bail out Chrysler with loan guarantees back in '79...at his request?Erikhttps://www.blogger.com/profile/15635610912407767554noreply@blogger.com