Number: R40005 Title: Chrysler Corporation Loan Guarantee Act of 1979: Background, Provisions, and Cost Authors: James M. Bickley, Specialist in Public Finance Abstract: The American automobile industry has serious financial problems. Corporate executives from the Big Three (General Motors, Ford, and Chrysler) have testified before Congress about their need for federal credit (direct loans and guaranteed loans). This report examines the Chrysler Corporation Loan Guarantee Act of 1979 for possible insights that could assist Congress in evaluating proposals to provide federal credit assistance. Pages: 8 Date: December 17, 2008