NBC Evening News for Friday, Jul 09, 1971
View other clips in this broadcast →
Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws. For any such use, please visit NBC NEWS Archives XPRESS.
(Studio) Nixon administration proposes giving loans to any industry in danger of bankruptcy.
REPORTER: Frank Mcgee
(DC) [Senator William PROXMIRE - points out President would control board approving loans under proposed plan; President could approve loans to help him in election year] [Treasury Department spokesperson Charles E. WALKER - doesn't think plan would be abused for political gain.] [PROXMIRE - says approval or denial of Lockheed Aircraft Corp.'s loan could affect California citizens' votes in next election; once efficiency of industry replaced by political power as determiner of whether industry survives, economy system will be weakened.]
REPORTER: No reporter given