[okie01]

It’s more than the immediate overhang of Chrysler debt; it’s the preception by the markets that the government was changing it’s behavour.

There is also the burden on Ford and to a lesser extent of all other business borrowers as a result of the way that the administration shafted GM and Chrysler’s senior creditors.

I'm afraid we're not communicating.

I was responding to a question about the 1979 loan guarantee issued to Chrysler when Iaccoca was the CEO.

You appear to be addressing the Obama administration's bankruptcy shenanigans of a more recent vintage.

[Lonesome in Massachussets]

You are correct, I was digressing. More to the point, when the Government guarantees the debt of a private company, it benefits that company, its owners, employees, suppliers and creditors. But, it is like eating salted peanuts, or rolling over credit card debt: it’s bad for you and leads to the danger of becoming a habit.