Guidelines for Rescuing Large Failing Firms and Municipalities.
GENERAL ACCOUNTING OFFICE WASHINGTON DC GENERAL GOVERNMENT DIV
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In the 1970s the government provided financial aid to three large firms and one municipality Conrail, Lockheed, Chrysler, and New York City to avert potential bankruptcies. From its own experience and from the recollections and experiences of over 100 others that have been involved in these programs, GAO developed guidelines on structuring, implementing, administering, and overseeing this type of program. GAO developed these guidelines so they would be readily available to assist others if similar programs are created in the future.
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