"The free-enterprise system has gone to hell"
The financially straitened Chrysler Corp. got a felicitously timed lift last week in its drive to persuade Washington to approve federal guarantees for loans from private banks. The Economic Development Administration decided to guarantee loans totaling $111.1 million for the Jones & Laughlin Steel Corp. to install pollution control equipment. Though that guarantee was granted under a special Administration program to help steelmakers meet the heavy cost of complying with environmental rules, Chrysler officials are sure to cite it as a precedent in their push for...
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