Bailouts

The Times must realize it is perpetuating an economic myth by publishing Kevin Phillips’ “The Bailout Bubble” (Opinion, Dec. 28). To compare the Lockheed and Chrysler situations to taxpayer-funded IMF cash payments is what liberal self-appointed economists have been doing for years--and apparently will be able to continue doing so long as liberal press units publish their economic malaprops.

Let Phillips and his ilk show where one penny of U.S. taxpayer monies was ever given to either Chrysler or Lockheed. Yes, their loans from banks were guaranteed. But not only were the loans repaid, both companies employ thousands and pay a large amount of taxes today.

HOWIE KEEFE

Marina del Rey