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Connally / Lockheed Loan #458891

NBC Evening News for Tuesday, Jul 20, 1971
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(Studio) Treasury Secretary Connally testifies before Senate committee in favor of government loans for business near bankruptcy.
REPORTER: John Chancellor

(DC) [CONNALLY - says motivation for recommendation not based on concern for particular company or industry, but out of concern for well being of American people; Lockheed will be able to make enough to repay loan, though airbus project may not show profit.] Dep. Defense Secretary David Packard may resign out of frustration with defense contract spending; ordered to delete portion of testimony given yesterday, expressing opposition to government loans for ailing companies
REPORTER: Robert Goralski

Reporter(s):
Chancellor, John;
Goralski, Robert
Duration:
00:02:30

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