[Lee Stewart]

Originally Posted by 442w30

If that were true, then Chrysler wouldn't have gone bankrupt. :twocents:

The Chrysler Bailout of 1979: A Retrospective

Back in 1979, Chrysler was on the verge of bankruptcy and in desperate need of a $1.5 billion loan from the federal government.1 However, Chrysler's troubles began further back in the 1960s, when the company tried to expand both within the United States and worldwide in an attempt to catch up to its main competitors. In hindsight, it was ill-advised as the seventies would have a total of three recessions, two energy crises, and new government environmental and fuel-efficiency standards. The fear of millions of jobs being lost, along with resurgent German and Japanese auto industries, had many concerned that an already weak economy could be pushed into a depression. All these factors eventually led to Chrysler's 1979 bailout by the federal government.

https://www.investopedia.com/article...er-bailout.asp

Chrysler did go Chapter 11 Bankruptcy back in April 2009 which was caused by The Great Recession