Lee Iacocca advises GM and Chrysler to quickly repay loans

In a recent interview, Lee Iacocca stated that Chrysler, the company that he famously led in the 1980s, should repay its government loans as fast as possible. Citing onerous oversight and restrictions, he suggested that both General Motors and Chrysler need to quickly recover their independence.

While Iacocca's statements are sure to elicit cheers from the non-regulation crowd, the man's own story suggests that his advice is, perhaps, excessively simplistic.