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« Bailout News: CBS 60 Minutes Video: Sheila Bair & The FDIC: Your Bank Has Failed. What Happens Next? | Main | Bailout Truth: Video: Hey Tim, Do Us All A Favor And Step Down Now »
Sunday
Mar082009

Chrysler 1979: Bailout News From Back In The Day With Music By Bob Seger

For whatever reasons those old enough to remember (I was 12 and remember Lee Iacocca coming in from Ford to lead the way. Yeah, back then failout CEOs got fired and sangre nueva was brought in.) the government bailout of Chrysler corp. in 1979 generally think it was a massive rescue.

It was $1.5 billion.  Triple that number to adjust for inflation and we're talking about $5 billion in today's dollars.  Miniscule.  Wouldn't even make the front page. 

This above video is a report from AP Radio about bailout old school.

And inside we have an ancient favorite from Detroit legend Bob Seger, hat tip to reader Old Man.

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Reader Comments (9)

@GT 953 Sunny

I received your email but the email address you gave for responding does not work. I sent you a response twice and it was returned undeliverable both times.
Mar 9, 2009 at 1:43 AM | Registered CommenterDailyBail
GT sent me a message saying when he attempts to watch videos on the site it takes him to a login page.

Has anyone else had this kind of problem when watching videos here?

If so, please speak up so that I can work to solve it.

Thanks.
Mar 9, 2009 at 1:45 AM | Registered CommenterDailyBail
He's probably getting blocked because he is trying to access your blog from China, AIG, GS, Tim Geithner's Office, or a couple dozen other locations not on your fan club list. LOL
Mar 9, 2009 at 2:50 AM | Unregistered Commenterspideydouble
That was an interesting trip down memory lane.

It's hard to believe the amount was so small and yet it was the biggest news of the year practically. How far we've fallen.
Mar 9, 2009 at 3:53 AM | Unregistered CommenterGenevieve
"ancient favorite " ????? sheesh "ancient" my rear end.... ;-)
Mar 9, 2009 at 8:44 AM | Unregistered CommenterBear
@Bear

nice comment. we're all getting old.
Mar 9, 2009 at 1:23 PM | Registered CommenterDailyBail
At least Chrysler repaid that loan. I don't think that'll happen with the current crop of bailouts.
Mar 9, 2009 at 4:38 PM | Unregistered CommenterDED
@ded

Certainly not from Cerberus, the PE firm that owns the majority stake in chrysler. The will not repay a dime.
Mar 12, 2009 at 6:51 PM | Unregistered CommenterMortgage T&A
Bad time going for the Chrysler Group. Check out the site for more product updates http://www.automobilebestbuys.com/autoblog/chrysler-limosines-best-world-class-limos.html
Jan 17, 2011 at 4:06 AM | Unregistered Commenterraysonsmith

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