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Lockheed loan guarantee sparks consumer advocates warning
The advocates warned that even with help Lockheed will seek more federal underwriting in the future. They argued the loan guarantee acts as a foot in the door and could lead to broader government backing of Lockheed’s activities. Treasury Secretary Connally defended the bill as needed to protect the economy, sustain technological advances, preserve competition, prevent 25,000 TriStar layoffs, aid the balance of payments, and maintain defense costs.
MENTIONED IN THIS ARTICLE
Lockheed
Treasury
John B. Connally
U.S