"I Am Changing My Name to Chrysler"

With all the news about government bailouts, I'm reminded of the government loan guarantees to save Chrysler in 1980. If memory serves me correctly, the government took either stock or options on stock as collateral, and ended up making money on the deal. 

Songwriter Tom Paxton and singer Arlo Guthrie captured taxpayer consternation with the Chrysler loans with the song, "I Am Changing My Name to Chrysler."

"I Am  Changing My Name to Chrysler"

by Tom Paxton

Oh the price of gold is rising out of sight

And the dollar is in sorry shape tonight

What the dollar used to get us

Now won't buy a head of lettuce

No the economic forecast isn't right

But amidst the clouds I spot a shining ray

I can even glimpse a new and better way

And I've devised a plan of action

Worked it down to the last fraction

And I'm going into action here today

CHORUS:

I am changing my name to Chrysler

I am going down to Washington D.C.

I will tell some power broker

What they did for Iacocca

Will be perfectly acceptable to me

I am changing my name to Chrysler

I am headed for that great receiving line

So when they hand a million grand out

I'll be standing with my hand out

Yes sir I'll get mine

When my creditors are screaming for their dough

I'll be proud to tell them all where they can all go

They won't have to scream and holler

They'll be paid to the last dollar

Where the endless streams of money seem to flow

I'll be glad to tell them what they can do

It's a matter of a simple form or two

It's not just remuneration it's a liberal education

Ain't you kind of glad that I'm in debt to you

CHORUS

Since the first amphibians crawled out of the slime

We've been struggling in an unrelenting climb

We were hardly up and walking before money started talking

And it's sad that failure is an awful crime

Well it's been that way for a millennium or two

But now it seems that there's a different point of view

If you're a corporate titanic and your failure is gigantic

Down to Congress there's a safety net for you

CHORUS

©1980 Accabonac Music (ASCAP)