Maybe we're starting to find out.
Then again I started thinking such things back when they were throwing nearly a trillion dollars at Wall Street and the banking industry, while the the automakers/auto unions had to come begging hat in and kiss politician's patrician arses on tv for 15-30 billion.
Do I feel sorry for auto execs? Certainly not, but to me the auto unions are a pull upwards for millions of job salaries and benefits. Also I'm definately no more fond of wall street lizards and bankers giving themselves fat bonuses(for crashing) on my tax money.
Susie Madrick does a better job of covering it than I so here she is:
"Billionaire bankers (and their investors) walk away from the table with their pockets stuffed with taxpayer cash while members of the auto workers union are told they’ll have to sacrifice even more - in this case, the Obama administration wants the companies to get rid of “old liabilities” - i.e. retiree pensions. (You know, while bankers complain about having to sell the house in the Hamptons).."
And what’s all this crap about bringing the cost of wages in line with Japanese auto workers - whose government provides free health care? Why are workers the only ones expected to bear that burden? That’s a right-wing meme if ever I heard one."
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Labels: bailouts, Banks, fat cats, Obama, wall street
