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Nader urges banking probe of Lockheed ties
Nader and James Welch told the Senate Banking Committee that nearly half of the 24 banks loaning Lockheed $400 million are interlinked through directorships. They warn interlocks could influence the L1011 TriStar market while Rolls Royce engine delays compound Lockheed’s finances. Eleven banks also fund major airline customers Delta Eastern and TWA.
MENTIONED IN THIS ARTICLE
H. L. Schwartz
Associated Press
Washington (Ap
Ralph Nader
Senate Banking Committee
Lockheed Aircraft
Nader
James Welch
Lockheed
Nixon
Welch
England
Rolls Royce, Ltd
TriStar
Bank of New York
Chemical and Chase Manhattan
Chase and
First National City of
Chicago
Delta
Eastern
TWA