by Publius
BigGovernment.com
Today, in 1980, President Jimmy Carter authorized the first federal bailout of Chrysler. Sometimes you have to wait a couple decades to say “I told you so…”
_____
The history of the Chrysler Corporation Loan Guarantee Act of 1979 can be read here.
“In 1983, Chrysler paid off the loans that had been guaranteed by US taxpayers. The Treasury was also $350 million richer.”